Salamis Tours (Holdings) Public LTD

Earnings Release • Nov 27, 2015

27 November 2015

INTERIM MANAGEMENT STATEMENT

At its scheduled meeting of Thursday, 26 November 2015, the Company's Board of Directors examined and approved the Group's Interim Management Statement for the second half of 2015, prepared in accordance with Section 11 of the Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law of 2007.

Nature of operations of the Group:

The Group's main activities have not changed in the period under review in relation to the year ended 31 December 2014 and remain the management and exploitation of the Group's own vessels, tourism, travel agency operations, customs clearing and international transport.

Financial situation and material events in the period under review:

The Group's results for the period until 30 September 2015 are significantly improved compared to the corresponding period of last year.

The improvement in the results is mainly due to the increase in the turnover by 7% and the reduction of the cost of sales by 4%.

The Group has acquired a commercial container vessel at the purchase price of €1,800,000. The vessel was received at the beginning of October, was renamed M/V ALASA and has started its itinerary in the beginning of November, serving the Greece – Cyprus – Israel commercial line.

Development and prospects

Regarding the results for the entire year and considering the progress of the Group's operations to date, these are expected to be improved compared to last year.

During the period under review, there have been no other material events and transactions beyond the Group's ordinary business affecting its financial situation.

Vassos G. Hadjitheodosiou Chairman of the Board of Directors