Financial results for the 6-month period of 2018

VARVARESSOS S.A. turnover during the 6-month period of 2018 reached 8,40 million EURO contrary to 10,72 million EURO in the same period of 2017. The company's exports came up to 6,53 million EURO which is 77,77% of the revenues. Losses before depreciation (EBITDA) have reached 38,94 thousand EURO contrary to losses 263,74 thousand EURO during the same period of 2017. Losses after taxes reached 1,29 million EURO compared to losses 1,073 million EURO in the 6-month period of 2017 and were affected negatively by the new product blend due to the new business plan.

Announcement of Regulated Information in the context of the Regulation EU 596/2018: Transaction Acknowledgement

It is announced that on August 28, 2018 Motor Oil Holdings Ltd (related legal entity with Messrs. Vardis J. Vardinoyannis, John V. Vardinoyannis and Petros T. Tzannetakis – respectively Chairman of the Board, Executive Vice Chairman of the Board and Deputy Managing Director of MOTOR OIL (HELLAS) S.A.) sold 90,601 MOTOR OIL (HELLAS) S.A. shares of total value Euro 1,834,452.90.

Maroussi 31 August 2018
The Board of Directors

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