Plaisio Computers S A : Press Release Half Year 2018 Results

PRESS RELEASE HALF YEAR 2018 RESULTS
PLAISIO COMPUTERS S.A.

High one-digit increase in sales and improved gross profit. Significant increase in both before and after taxes profitability.
Stable strong capital structure. Significant decrease of trade payables and, simultaneous, wide liquidity.

• Increased sales amounting to € 137 m. from € 128 m. (+7,2%) and improvement in gross profit (+2,7%, at € 28,3 m.).

• Marginal decrease in EBITDA to € 2,7 m. from € 2,8 m..

• Significant increase of 37,3% in earnings before taxes to € 1,3 m. from € 0,9 m. and respective increase in earnings after taxes to € 0,8 m..

• High cash and cash equivalents at the level of € 39 m. and net liquidity of € 22,9 m. and dividend payment of € 1,5 m. to the shareholders.

• Significant decrease in liabilities to suppliers, of more than € 10 m., and decrease of the short and long-term liabilities expressed to Total Liabilities & Equity terms by 280 b.p. (from 41,7% to 38,9%).

• Robust capital structure with the Group's net equity to more than € 90 m..

Athens,September 19^th 2018:'Plaisio Computers' releases today the financial results for the period 01.01.2018 - 30.06.2018, according to the IFRS. The basic figures for the Group are the following:

Consolidated figures (th. €)	01.01.-30.06.2018		01.01-30.06.2017	+/-
Turnover		137.035	127.838	7,2%
EBITDA***		2.709	2.834	(4,4%)
EBITDA Margin (%)***		1,98%	2,22%	(0,24)
Operating Profit (EBIT)***		1.826	1.830	(0,2%)
EBT		1.278	931	37,3%
EAT		823	570	44,4%
Earnings per share (€)		0,0373	0,0258
Cash and cash equivalents**		38.969	49.862	((21,8%))
Total Debt**		16.085	12.877	24,9%
Net Debt***		(22.884)	(36.985)	(38,1%)
Trade Payables, Contract Liabilities & Other Short Term Liabilities**		30.217	40.448	(25,3%)

*The Group has applied IFRS 15 and IFRS 9 using the cumulative effect method, depicting the effect in 'Retained Earnings'. Under this method, the comparative information is not restated.
**The figures for 2017, are these of 31st of December
***: Constitute an APM. For the definition and the mission of APM, please, check the Half Year Financial Report - Unit E in the Report of the BoD

Commenting on the results of the first half year of 2018, the President of the Board of Directors and CEO of the Company Mr. George Gerardos mentioned the following: 'The first semester was characterised by restrained consuming demand in Greece and relatively low expectations for recovery. In this context, we are truly satisfied from our Group's sales revenue increase by 7%, a performance clearly higher than the wider retail sector. The sales of 'Telecom Equipment' segment, positively, impressed us as it showed a sales increase of more than 25%. Cost of sales and the other operating expenses showed increasing tendencies, a part of which must be attributed to expenses for the operation of Plaisio's two new stores in July. The maturity of those investments allows us to pursue the same growth rate in sales for the whole 2018 as the one achieved in the first semester, despite the excellent (comparable) second semester of 2017. This fact makes achieving this target more difficult, but not impossible. As always, the political / financial stability and, consequently, the individuals' tendency to consume, the sales in the 'Back to School' period, later in November the sales in Black Friday and the sales in the Christmas period will play a substantial role. Plaisio and its people are prepared, once more, to improve their performance by offering to the customers a wide product mix, at the best possible prices and with the best customer service and, in parallel, to maximize the yield of the shareholders of the Company'.

The Vice President and CEO of the Company Mr. Konstantinos Gerardos added: 'The first semester of 2018 was characterized by the positive trend in financial figures and by the setting of our investment plan. The first stages of which have, already, started to be implemented.
The milestone of the period was the redefinition of the Plaisio store identity. In our era, internet gives to the consumers the ability to gain access to unlimited information. Also, the distribution of goods, directly, to the customer's place, leads the physical store to adopt a different approach and mission. Having all these in mind, the new Plaisio store approaches the customer's journey by giving more emphasis on how the customer feels in the store, his willingness to spend more time in it and to live the store experience by using the products.
The aforementioned new identity was implemented in the new superstore in Ag. Paraskevi, a store of 2.260 sq.m., at Mesogeion str., which opened in the beginning of July and in the new store in Chania which opened in the end of July. The new store in Chania was an old historical cinema, named Apollon which was reconstructed in a 1.400 sq.m. store downtown. More than 210.000 people have, already, visited those two new stores up to this day.
In conclusion, Plaisio stores welcomed more than 1 million people in the current Back to School period, confirming the positive trend of the year.''