PRESS RELEASE

LAUSANNE, MARCH 31th, 2015, PERFECT HOLDING SA RELEASES

ITS CONSOLIDATED ANNUAL ACCOUNTS ENDING DECEMBER 31, 2014

Since the successful 2013 disposal of the aircraft management operations - part of the Group strategy to pursue its activities in the less regulated sectors of the aviation business, the Group now concentrates on charter sales, aircraft acquisitions and sales (brokerage) and aircraft consultancy.
During 2014, the audited consolidated results of Perfect Holding SA were revenue of CHF 24.3 million (CHF 27.4 million in 2013), a reduced net operating loss of CHF 0.3 million (CHF 0.7 million in 2013) and negative net operating cash flow of CHF 0.1 million (positive net operating cash flow of KCHF 31 in 2013). The 2014 net loss from discontinued operations amounted to KCHF 44 (CHF 2.3 million in 2013). The 2014 net loss from continuing operations amounted to CHF 0.8 million (CHF 0.65 million in 2013). Unfortunately, the reduction of the Group's running costs has been largely compensated by the cancellation of deferred tax assets on tax losses to be carried-forward.
Charter and brokerage activities have decreased in volume as a result of the very tense situation in Russia/Eastern Europe. However, increased margins have enabled an EBITDA increase in the charter segment.
The Perfect Group continues its proactive research and evaluation of carefully selected potential acquisitions, in order profitably to develop its growth. Existing corporate instruments, such as an authorized capital and a conditional capital reserved for convertible loans, in each case of approximately CHF 9 million, are available for the development of the Group's business and possible external growth transactions. The Group also has not taken advantage of bank loans for working capital.

Next release - Interim Half-Year 2015 Report - 25.09.2015

Perfect Holding SA - Avenue de Florimont 3 - 1006 Lausanne - Switzerland - Tel. +41 44 5000 810 - Fax +41 44 5000 811

Annual Report 2014 is now published and can be found on www.perfect.aero, following the path:

http://www.perfect.aero/en/investor-relations/annual-and-interim-reports

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