Thrace Plastics and Commercial S A : Announcement of First Quarter 2020 Financial Results

May 27, 2020

Announcement of First Quarter 2020 Financial Results

The purpose of the current release is to present the Group's financial results for the first quarter of the current year.

PRESS RELEASE

Wednesday, 27 May 2020

FINANCIAL RESULTS OF FIRST QUARTER 2020

ATHEX:PLAT

Reuters: THRr.AT

Bloomberg:PLAT GA

The purpose of the current release is to present the Group's financial results for the first quarter of the current year.

Specifically the basic financial results of the Group during the first quarter of 2020 versus the respective period of 2019 settled as follows:

Consolidated Financial Results	31/03/2020	31/03/2019	Change(%)
Turnover	€ 78.4 million	€ 83.6 million	-6.2%
Gross Profit	€ 17.5 million	€ 16.8 million	+4.4%
ΕΒΙΤ*	€ 4.7 million	€ 4.6 million	+3.9%
EBITDA*	€ 9.1 million	€ 8.4 million	+8.7%
EBITDAMargin(%)	11.6%	10.0%
Adjusted EBITDA*	€ 9.5 million	€ 8.4 million	+13.5%
Adjusted EBITDAMargin(%)	12.1%	10.0%
EBT	€ 4.1 million	€ 3.1 million	+34.1%
EAT&MI	€ 2.8 million	€ 2.0 million	+36.8%
Earnings per Share	€ 0.0638	€ 0.0466	+36.8%

It is noted that the adjustment of EBITDA was made by deducting the non-recurring expenses of the first quarter of 2020, which do not concern the ordinary business activity of the Group. Non-recurring expenses amounted to € 401 thousand for the current period, whereas there were no such expenses in the first quarter of 2019.

The total Equity on 31.03.2020 amounted to € 151.0 million compared to € 146.3 million on 31.12.2019 with the Net Bank Debt standing at € 82.1 million compared to € 83.5 million on 31.12.2019. The ratio Net Debt / Total Equity settled at 0.54x versus 0.57x on 31.12.2019.

For further clarifications or information regarding the present release you may refer to Ms Ioanna Karathanasi, Head of Investor Relations, tel.: + 30 210-9875081.

* Note

Alternative Performance Measures (APM): During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized.

EBIT (The indicator of earnings before the financial and investment activities as well as the taxes): The EBIT serves the better analysis of the Group's operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses, before the financial and investment activities. The EBIT margin (%) is calculated by dividing the EBIT by the turnover.

EBITDA (The indicator of operating earnings before the financial and investment activities as well as the depreciation, amortization, impairment and taxes): The EBITDA also serves the better analysis of the Group's operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses before the depreciation of fixed assets, the amortization of grants and the impairments, as well as before the financial and investment activities. The EBITDA margin (%) is calculated by dividing the EBITDA by the turnover.

Adjusted EBITDA (The adjusted indicator of operating earnings before the financial and investment activities as well as the depreciation, amortization, impairment and taxes): The adjusted EBITDA equals with the EBITDA excluding any extraordinary Expenses/Income.