Kifisia 26/02/2020

Announcement on the Commentary of the Annual Financial Statements

PAPERPACK SA continues its upward trend, according to the published annual financial report for the fiscal year 1/1/2019 to 31/12/2019. More specifically:

The Company's turnover increased by 10.99% to € 18,447 thousand compared to € 16,621 thousand in the prior year.

Operating profit (EBITDA) of the Company amounted to € 4,309 thousand compared to € 2,248 thousand in the prior year. We note that the application of IFRS16 has a positive impact on EBITDA of € 603 thousand.

Earnings before taxes amounted to € 2,598 thousand versus € 1,059 thousand in the prior year.

Earnings after taxes amounted to € 1,929 thousand versus € 761 thousand.

The Company reported positive operating cash flows of € 3,817 thousand versus € 1,370 thousand and its cash balances amounted to € 2,044 thousand.

The Bank's bank debt decreased by € 1,393 thousand compared to 31/12/2018.

Finally, the Board of Directors proposes, in its annual report to the Ordinary General Meeting of Shareholders, the payment of a dividend of € 0.50 per share.


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