Athens Water Supply & Sewage : FISCAL YEAR 2018 FINANCIAL RESULTS

• Increased EBT by 21% to 80.3 million euro compared to 66.5 million euro in 2017
• Increased in Net Profit by 10% to 48 million euro compared to 43.5 million euro in 2017
• Increased EBITDA by 14.2% to 96.7 million euro compared to 84.7 million euro in 2017
• Increase of the proposed dividend by 35%, at 0.27 euro/share
• Reduction of operating cost by 5.1% to 267.1 million euro from 281.5 million euro in 2017

EYDAP, the largest water supply and sewerage company in Greece and one of the largest in Europe, continued its steady and profitable course for yet another year through rational management that led to cost containment and via strengthening the Company's planning for sustainable development, while supporting vulnerable social groups.
In particular, the Company's turnover amounted to 322.4 million euro from 327.3 million euro in 2017, decreased by 1.5%, mainly due to a 3.5% decrease in consumption.
However, the Company's performance indicators for the year 2018 are strengthened due to a 6% decrease in operating expenses before depreciation. In particular, operating expenses amounted to 229.5 million euro compared to 244.7 million euro in 2017. We should note that in the year 2017, an amount of 11.8 million euro was recognized as additional service cost for the future one-off compensation of employees in accordance with IAS 19.
EBITDA * increased by 12 million euro (+ 14.2%) to 96.7 million euro from 84.7 million euro in 2017. EBITDA margin increased to 30.0% from 25.9% in 2017.
Similarly, the EBIT * of the Company increased by 11.2 million euro (+ 23.4%) stood to 59.1 million euro from 47.9 million euro in 2017. EBIT margin stood at 18.3% from 14.6% in 2017.
The Company's pre-tax earnings increased significantly by 21% to 80.3 million euro from 66.5 million euro in 2017, while Profit after Taxes also showed a significant increase of 10% to 48 million euro from 43.5 million euro in 2017. Net profit margin increased to 14.9% from 13.3% in 2017.
Net Operating Cash Flows for the Group increased from 68.3 million euro in 2017 to 112.3 million euro in 2018, while the Group's Free Cash Flows to the Firm amounted to 108,8 million euro from 64.5 million euro in 2017.

EYDAP, always consistent with its shareholders with the uninterrupted dividend distribution from the day of its listing on the Athens Exchange, will propose to the Ordinary General Meeting of Shareholders, by decision of its Board of Directors, the distribution of a dividend amounting to a total of 28,755,000 euro (0.27 per share gross) increased by 35%.

* Alternative Performance Measure
See section Alternative Performance Measurement Indicators in the Annual Financial Report 2018 that is posted on the corporate website www.eydap.gr.