KORRES / 9M 2016 FINANCIAL RESULTS

• CONSOLIDATED SALES GROWTH
• NET PROFITABILITY INCREASE
• HIGH OPERATING CASH FLOWS

Korres Group recorded positive growth rates in sales, net profits and operating cash flow in the 9m 2016 results.

Consolidated sales at 44,4m euro were higher by 1% compared to 9M 2015 at 44,0m euro, with positive performance of the brand both in Greece (4% vs 9M2015) and the priority markets (+2,1%) –US, Germany, France, UK and Norway.

Adjusted earnings before interest, tax and depreciation (Adjusted EBITDA) in the 9M of 2016 reached 8,3m euro (after the deduction of the extraordinary restructuring cost) from 8,2m euro in the 9M of 2015. Earnings before interest, tax and depreciation (EBITDA) amounted 6,5m euro in 9M 2016.

Net profit after tax and minority rights, increased by 14% to 1.3m euro in 9M 2016 from 1.1m euro in the corresponding period of 2015, as a result of sales growth and gross profit margin improvement.

Operating cash flows more than doubled at 4.0m euro in 9M 2016 from 1.4m euro at the same period of 2015, further strengthening the financial position of Korres Group.

Key growth drivers in the future development of Korres Group will continue to be:

• the investment in the research and development for primary innovation
• the expansion of the strategic product categories focusing in Greek herbs
• Contractual farming partnerships with Greek farmers in our constant effort to promote organic farming and the wealth of the Greek flora as well as supporting the local economy. Recent examples of this effort include the launch of the Golden Krocus, Ageless Elixir- the first cosmetic product with organic Greek Saffron extract, the best saffron variety in the world - and Castanea Arcadia, Anti-Wrinkle and Firming Collection – a Korres global innovation.
• the permanent support of pharmacies-Korres Group major Sales Channel and
• the further development of the Group's international activity mainly in the priority markets.

For more information:

INVESTOR RELATIONS
Athina Lagou / Τ: (+30) 213 018 8905, E: athina.lagou@korres.com
PUBLIC RELATIONS

Giorgos Anthoulakis/Τ: 213 018 8835 Ε: giorgos.anthoulakis@korres.com

Katerina Traka / Τ: 213 018 8837 Ε: katerina.traka@korres.com