Y/KNOT INVEST S.A.

Regulated Information Announcement – Provision of clarifications regarding the transfer of the participation in the subsidiary “Kiriacoulis France SARL”

Regulated Information Announcement – Provision of clarifications regarding the transfer of the participation in the subsidiary “Kiriacoulis France SARL”

Following the announcement dated 24/02/2026 and pursuant to a relevant request from the Hellenic Capital Market Commission, the company “Y/KNOT Invest S.A.” (the “Company”) wishes to further inform the investing public regarding the transfer of its entire participation, i.e. a 70% stake, in the company under the name “Kiriacoulis France SARL” (“KF”), as follows:

1. Comparative Financial Figures of KF and the Group.
As stated in the announcement of 24/02/2026, the divestment from KF is part of Management’s strategic decision to disengage from loss‑making foreign activities, taking into account the deterioration of its financial figures and the negative equity of the company at the time of the transfer. The tables below present, in order, the financial data of KF and its subsidiaries and the consolidated financial data of the Y/KNOT Invest group, formerly the KIRIAKOULIS MEDITERRANEAN CRUISES group (the “Group”):

1.1 Financial Data of KF and its Subsidiaries 1

Amounts expressed in thousand €

Statement of profit or loss

12M - 2023A

12M - 2024A

6M - 2025P

12M - 2025P

Revenues

           34.213 

           39.813 

               7.371 

               8.686 

Gross Profit                 403 

              1.752 

                  209 

                  366 

Profit/Loss after tax               (428)                 296 

                  (75)

                 (603)

     
Statement of financial position

31.12.2023A

31.12.2024A

30.06.2025P

31.12.2025P

Total assets          19.062 

              9.076 

               6.881 

               5.106 

of which:    
Non-current assets                 157                  114                  103                     95 
Supplier advances          10.069              1.579                  623                  502 
Total liabilities           19.982              9.699               7.579               6.332 
of which:    
Borrowings                 950                  599                  599                  407 
Customer advances          12.483              1.851                  751                  183 
Equity               (919)               (623)                (698)            (1.226)

A: Audited Financial Statements
P: Draft, unaudited Financial Statements
Note 1: Before intercompany eliminations

1.2 Group Consolidated Financial Data

Amounts expressed in thousand €

Statement of profit or loss

12M - 2023A

12M - 2024A

6M - 2025A

 Revenues

               40.514 

               40.888 

                 8.749 

Gross profit

                 3.335 

                 1.734 

                  (356)

Profit/Loss after tax

                (2.013)

                (2.154)

                (1.702)

    
Statement of financial position

31.12.2023A

31.12.2024A

30.06.2025A

Total assets

               49.057 

               35.560 

               29.898 

of which:   
Non-current assets

               22.361 

               21.447 

               20.795 

Total liabilities 

               41.133 

               29.827 

               25.867 

of which:   
Borrowings

                 7.086 

                 6.293 

                 6.392 

Equity

                 7.924 

                 5.733 

                 4.031 

A: Audited Financial Statements

 

2. Strategic Restructuring and Continuation of Activity.
The transaction forms part of the Group’s strategic restructuring aimed at reducing operating costs and enhancing profitability. Specifically:

As highlighted in the 24/02/2026 announcement, the Group’s commercial activity (sales and chartering of vessels) is not discontinued, but is now carried out centrally, from Greece, through Greek Group companies.
Already, within the current year (2026), vessel sales have been executed through Greek Group companies, confirming the operational effectiveness of the above strategic decision.

 

3. Impact on the Group’s Financial Results.
From this transaction and the discontinuation of the consolidation of the loss‑making results and the negative equity of KF, the Group is expected to recognize income from the sale of the 70% participation amounting to approximately €800 thousand. This effect will be reflected in the interim financial statements for the first half of 2026.

Upon completion of the divestment, the Management of the Company ensures the Group’s disengagement from activities with high working capital requirements and coordination costs, focusing instead on the further development of its operations in Greece and the improvement of consolidated results.

In accordance with the relevant provisions of French law, the transaction will be finalized upon publication of the related documents in the French commercial registry (Registre du Commerce et des Sociétés).

The Company will continue to inform the investing public of any material development.