HYGEIA GROUP: P.R – 1Η 2018 Financial Results

19/09/2018

PRESS RELEASE

HYGEIA Group - Η1 2018 Financial Results

•  Consolidated EBITDA from continuing operations continued to improve significantly, reaching €22.1m and recording a 18% rise.

•  Consolidated earnings after tax from continuing operations and minority interests increased significantly by 59% and reached €12.5m.

•  Consolidated sales from continuing operations for the Group remained at high levels and amounted to €113.6m, recoding a 5% rise.

The company Diagnostic & Therapeutic Center of Athens HYGEIA SA (hereinafter HYGEIA) released its consolidated financial statements for the period ended 30/06/2018, in accordance with the International Financial Reporting Standards (IFRS).

The consolidated results for the periods ended 30/06/2018 and 30/06/2017 include the cutbacks when invoicing hospitalization fees and diagnostic tests for individuals insured with national insurer EOPYY (rebate and claw-back), which were implemented as of 01/01/2013 and continue to be in force until 31/12/2022, pursuant to Article 100 of Law 4172/2013 (Government Gazette Vol A 167), as amended and currently in effect.

REVENUE: Consolidated revenue reached €113.6m, up by 5%, as opposed to €107.7m for the same period in 2017.

EBITDA: Consolidated EBITDA increased by 18%, reaching €22.1m, compared to €18.8m in earnings for the first half of 2017.

EBIT: Consolidated EBIT showed marked improvement, amounting to €15.8m, as opposed to €11.5m in earnings for the same period last year.

NET EARNINGS (LOSSES) AFTER TAXES FROM CONTINUING OPERATIONS & MINORITY INTERESTS: Consolidated results after taxes from continuing operations amounted to earnings of €12.5m, as opposed to earnings of €7.8m for the same period in 2017.

Commenting on the results, the Chairman of the Board of Directors of DTCA HYGEIA and CEO of Marfin Investment Group (MIG), Mr Athanasios Papanikolaou, issued the following statement:

During the first half of 2018, HYGEIA Group continued to record constant growth, achieving significant profitability, while at the same time maintaining its leading position in the healthcare sector.

Believing that following Greece's exit from the Economic Adjustment Programme, the country - and by extension the market - where we operate will start showing signs of growth, we are confident that HYGEIA Group will continue to pave the way in the private healthcare sector for the years to come, validating once again the hard work and efforts of the Group's doctors, staff and Management.

This is the third consecutive fiscal year that HYGEIA Group records a new profitability record and we are all very proud, as the market itself rewards us every day.

Commenting on the results, the HYGEIA Group CEO, Mr Andreas Kartapanis, issued the following statement:

In the current business environment, with the anticipation that the recovery of the Greek economy will accelerate, the operating profitability of HYGEIA Group continues its upward trend, strengthening the Group's leading position in the sector.

At HYGEIA Group we remain dedicated to our main goals, i.e. to identify risks on time and implement suitable tools that will ensure business optimization, continuous growth, strong capital and adequate liquidity.

All of us at HYGEIA Group do not grow complacent, but treat each crisis as a new challenge and an opportunity to improve. We continue to responsibly address the issues of sustainable development, focusing on fostering and strengthening innovative entrepreneurship, by introducing high value-added services that incorporate knowledge, quality and environmental awareness, as we believe that growth is inexorably interwoven with society, the environment, the employees and the national economy.

Our unwavering priority is to continue to offer healthcare services in tune with the highest standards worldwide, while striving for long-term growth, and pledging to keep HYGEIA Group among the recognized leading organizations internationally, enhance our corporate value and safeguard the long-term interests of all stakeholders.

HYGEIA Hospital SA was founded in 1970 and has since been active in the provision of primary and secondary healthcare services, occupying a leading position in the private Greek healthcare sector. The Company is listed in the Athens Exchange and employs over

2,650 people as a Group and over 3,800 associate physicians. In January 2006, MARFIN INVESTMENT GROUP (MIG) gained control of the Company and launched a series of investment initiatives, with the strategic objective being to create the largest group of integrated healthcare services. HYGEIA Group owns three hospitals in Greece (HYGEIA, MITERA & LETO), with a total capacity of 874 licensed beds, 45 operating rooms, 14 delivery rooms and 9 ICUs. It also owns one Molecular Biology & Cytogenetics Center (AlfaLab) and a company trading in special materials, consumables, pharmaceuticals and general medical supplies (Y-LOGIMED). Furthermore, it is active in the area of research, production and trading of medical cosmetics (BEATIFIC).

On July 5, 2018, MARFIN INVESTMENT GROUP HOLDINGS SA signed a binding agreement for the sale of all of its the controlling interest (direct and indirect) in the Company, standing at 70.385%, to HELLENIC HEALTHCARE S.A.R.L., which is controlled by CVC

CAPITAL PARTNERS, for a consideration of €0.95 per share (total consideration €204,430 thousand). On August 25, 2018, by decision of the General Meeting of MARFIN INVESTMENT GROUP HOLDINGS SA, the sale and transfer were approved, along with all the relevant decisions and actions of the Board of Directors. The transaction is subject to the approval of the Competition Authority.