VARVARESSOS S.A.

Annual financial results of 2012

The company's turnover during 2012 reached 15,28 million EURO in comparison to 17,60 million EURO in 2011. The company's gross margin came up to -903 thousand EURO (-5,91%). The company's exports reached 9,21 million EURO that is 60,26% of the total sales. The company's EBITDA amounted to -1,94 million EURO in comparison to -476,8 thousand EURO in previous year's corresponding period. Loss after taxes amounted to 4,33 million EURO contrary to 3,55 million EURO in 2011.

The aforementioned statements are posted at the company's website www.varvaressos.gr