KORRES/ H1 2016 FINANCIAL RESULTS

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

KORRES Group continued with consolidated sales growth in H1 2016 combined with profitability and operating cash flow improvement.

Consolidated sales increased by 2%, to 31,0m euro in H1 2016 from 30,3m euro in the corresponding period of 2015, as a result of the positive performance of the brand both in Greece and the international markets.

At the international level, key growth drivers were the priority markets-US, UK, Germany, Norway-with 7% growth.

In Greece, sales rose by +1% compared to H1 2015, exploiting the positive effect of the complete communication and promotional plan in the pharmacy channel and the new innovative products launched by Korres in the strategic categories. Korres Group, focusing on the anti ageing subcategory, presented the new collection Castanea Arcadia-global innovation based on the largest research on world's natural, which highlighted Castanea (Arcadian Chestnut tree) as one of the top performing antioxidant plants worldwide.

 Earnings before interest, tax, depreciation and amortization (EBITDA), improved to 5,8m euro from 5,7m euro in the respective period of 2015, as a result of sales growth and the gross profit margin improvement.

Net profits after tax and minority rights, enhanced by 91% to 2,2m euro in H1 2016 from 1,1m euro in H1 2015.

Operating cash flows doubled to 3,2m euro in H1 2016 from 1,4m euro at the same period of 2015, further strengthening the financial position of Korres Group.

In H2 of 2016, Korres Group will continue to focus and invest in the strategic categories, presenting new innovative products in the pharmacy channel. Further expansion and growth in the priority markets such as US, UK, Germany and Norway, remains key strategic direction for the Group.

Finally, Latin America, where KORRES products were launched in Q2 2015 in Brazil within the context of the strategic agreement with AVON, constitutes a market of significant growth potential for Korres brand.

For more information:

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

PUBLIC RELATIONS / George Anthoulakis / T (+30) 2130 188835 / E george.anthoulakis@korres.com