CLASQUIN

Earnings Release • Oct 29, 2015

www.clasquinfinance.com Financial Press Release

Lyon 29 October 2015 (after market closure)

5 continents - 20 countries - 56 offices

Marked growth in Q3, in line withH1

	30.09.2015	30.09.2014	Change at current exchange rate	Change at constant exchange rate	Q3 2015 / Q3 2014
CONSOLIDATED (unaudited*)
Number of shipments**	152,002	123,260	+ 23.3 %	+ 23.3 %	+ 25.4 %
Sales (€m) ***	177.7	148.2	+ 19.9 %	+ 13.7 %	+ 13.0 %
Gross profit (€m)	45.8	35.6	+ 28.6 %	+ 23.1 %	+ 29.4%

*Excluding Gueppe-Clasquin, a subsidiary (70% ownership) specialised in road haulage, freighting and logistics.

**Note: Sales is not a relevant indicator for assessing activity in our business, because it is greatly impacted by changing sea and air freight rates, fuel surcharges, exchange rates (especially versus the \$), etc. Variations in the number of shipments, the volumes shipped and—in terms of the Group's finances—gross profit are relevant indicators.

The very strong growth in the number of shipments in Q3 (+25.4%) arose from sustained organic growth (+6.4%) and the acquisitions made in Q4 2014 (ECS & GAF) and in Q2 2015 (LCI) (+19.0%).

Gross Profit increased 29.4% in Q3. Organic growth was 11.2% (7.0% at constant exchange rates). Acquisitions contributed 18.2% to the increase.

DETAILS ON ACTIVITY BY BUSINESS LINE

	NUMBER OF SHIPMENTS			GROSS PROFIT (in €m)
At current exchange rate	30.09.2015	30.09.2014	30.09.2015 / 30.09.2014	Q3 2015 / Q3 2014	30.09.2015	30.09.2014	30.09.2015 / 30.09.2014	Q3 2015 / Q3 2014
Sea freight	73,864	66,754	+ 10.7 %	+ 12.0 %	20.7	15.8	+ 30.9 %	+ 29.6 %
Air freight	51,604	46,283	+ 11.5 %	+ 10.8 %	14.1	11.5	+ 23.3 %	+ 15.1 %
Other	26,534*	10,223	+ 159.6 %	+ 178.3 %	5.2*	2.4	+ 117.9 %	+ 181.1 %
TOTAL OVERSEAS ACTIVITY	152,002	123,260	+ 23.3 %	+ 25.4 %	40.0	29.7	+ 35.0 %	+ 35.3 %
Log System					1.8	1.9	- 3.5 %	- 10.1 %
Gueppe-Clasquin					5.1	5.1	- 0.5 %	+ 2.7 %
Consolidation entries					- 1.1	-1.1	NS	NS
TOTAL CONSOLIDATED					45.8	35.6	+ 28.6 %	+ 29.4 %

* The strong growth in "Other" activity is linked to the acquisition of LCI: number of shipments for 6 months (April/September): 15,112; GP for 6 months: €3.1 m.

	VOLUMES
	30.09.2015	30.09.2014	30.09.2015 / 30.09.2014	Q3 2015 / Q3 2014
Sea freight : TEUs (Twenty Equivalent Units)	90,458	76,484	+ 18.3 %	+ 23.8 %
Air freight : Tons	33,889	33,748	+ 0.4 %	- 3.4 %

HIGHTLIGHT OF THE FIRST NINE MONTHS

Since 31 March 2015 CLASQUIN has held 80% of the capital in FINANCIERE LCI, a company which acquired 100% of the capital in LCI INTERNATIONAL.

LCI INTERNATIONAL is a company specialising in freight forwarding between France and Northern Africa & Turkey.

LCI INTERNATIONAL has 3 sites in France (Villefranche sur Saône (69), La Crèche (79) and Vitrolles (13)) and 3 subsidiaries and interests in Tunisia.

This transaction shall increase earnings per share and have a positive effect on profitability from this year.

2015 OUTLOOK

Market:

Growth estimated at +/- 3% in volume.

Clasquin:

Confirmed guidance: very, very significant growth in business and profit.

UP COMING EVENTS (publication issued after market closure)

• Wednesday 16 March 2016 : 2015 Annual results

• Wednesday 21 September 2016 : 2016 Half year results

• Thursday 18 February 2016 : Business report as at 31 December 2015
• Thursday 28 April 2016 : Business report as at 31 March 2016
• Thursday 25 August 2016 : Business report as at 30 June 2016
• Thursday 27 October 2016 : Business report as at 30 September 2016

CLASQUIN CONTACTS

Yves REVOL – Chairman and CEO Philippe LONS – Deputy Managing Director and CFO Stéphanie CHALANDON – Financial Reporting and Logistics Manager Phone : 04 72 83 17 00 – Fax : 04 72 83 17 33 – Mail : finance@clasquin.com CLASQUIN Group - 235 cours Lafayette - 69006 Lyon

Clasquin is an air and sea freight forwarding and overseas logistics specialist.

The Group designs and manages the entire overseas transport and logistics chain, organising and coordinating the flow of client shipments between France and the rest of the world, and more specifically to and from Asia-Pacific and the United States. Its shares are listed on Alternext Paris, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP.

For more information, see www.clasquinfinance.com.

CLASQUIN confirms its eligibility for the new share savings plan for MSCs (medium-sized companies) in accordance with Article D221-113-5 of the French Monetary and Financial Code established by decree number 2014-283 of 4 March 2014 and with Article L221-32-2 of the French Monetary and Financial Code which set the conditions for eligibility (less than 5,000 employees and annual sales of less than 1,500 million euros or total balance sheet of less than 2,000 million euros).

Clasquin is part of Enternext©PEA-PME 150 index