Manutan International

Earnings Release • Oct 17, 2019

Gonesse, July 17th 2019

MANUTAN GROUP 2018/2019 Q3 Turnover

In thousands of euros	Turnover at the end of June 2019	Turnover at the end of June 2018	Q3 2019	Q3 2018	Q2 2019	Q2 2018	Q1 2019	Q1 2018
Total turnover	562,843	541,267	190,484	183,998	179,748	170,160	192,612	187,110

During the third quarter 2018/2019, the Manutan Group's business enjoyed a growth of +3.5% compared to the same quarter of the prior year, including an exchange rates effect of +0.1% and a day effect of -0.1% (+3.5% at constant exchange rates and number of days). Turnover amounted to 190.5 million euros, compared with 184.0 million euros for the same quarter of the previous fiscal year.

At the end of the third quarter 2018/2019, the Manutan Group's business increased by +4.0% (+4.1% at constant exchange rates and number of days, including an exchange rates effect of -0.1% and a null day effect) compared to the same period of the 2017/2018 fiscal year. Turnover amounted to 562.8 million euro till June 30 th 2019 compared with 541.3 million euros till June 30 th 2018.

In thousands of euros	Turnover at the end of June 2019	Turnover at the end of June 2018	Q3 2019	Q3 2018	Q2 2019	Q2 2018	Q1 2019	Q1 2018
Enterprises	433,933	417,181	139,039	136,373	150,229	141,723	144,665	139,085
North	31,019	32,220	9,664	10,514	10,488	10,658	10,867	11,048
Centre	92,602	89,903	29,012	29,086	32,713	31,182	30,877	29,634
Est	17,870	18,594	5,846	5,860	5,871	5,975	6,153	6,759
South	207,410	194,969	65,805	62,832	71,546	66,430	70,059	65,707
West	85,033	81,494	28,713	28,081	29,611	27,478	26,709	25,936
Local Authorities	128,911	124,086	51,445	47,625	29,519	28,437	47,947	48,025
South	128,911	124,086	51,445	47,625	29,519	28,437	47,947	48,025
Total Group	562,843	541,267	190,484	183,998	179,748	170,160	192,612	187,110

In terms of its operational areas ¹ , the Group's situation is diverse:

¹ The analysis of the Group's performance by geographical area has been refined and contains an additional level of granularity: Enterprises and Local Authorities. This additional information will be included in our reports from now on.

At Constant exchange rates and working days	1st quarter	2nd quarter	3rd quarter	4th quarter	Financial Year
Enterprises	3.1%	7.1%	2.1%		4.1%
North	2.8%	-0.1%	-3.2%		-0.1%
Centre	2.6%	6.5%	-1.2%		2.7%
Est	-9.0%	0.3%	1.7%		-2.6%
South	5.1%	9.3%	5.1%		6.5%
West	2.1%	6.9%	0.9%		3.2%
Local Authorities	-1.3%	5.5%	7.3%		3.9%
South	-1.3%	5.5%	7.3%		3.9%
Total Group	2.0%	6.9%	3.5%		4.1%

• The Enterprises division growth in the third quarter (+2.1%) was mainly driven by the South area. It should be noted that the Centre, East and West areas had experienced strong double-digit growth in the third quarter of 2017/2018.
• The Local Authorities division accelerated its growth in the third quarter (+7.3%) in all of its markets.

The Group announced the acquisition of Kruizinga in June 2019, allowing the Group to enrich its products and services offer while strengthening its positions in the Benelux and on the ecommerce channel. The inclusion of Kruizinga in the Group's results will take place in the fourth quarter of the 2018/2019 financial year.

For the rest of the financial year, the Group will continue implementing its development strategy while maintaining its mid-term investment plan.

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About the Manutan Group

A family-run business created in 1966. Manutan is Europe's leading B2B e-commerce company and specializes in the multichannel distribution of products and equipment for businesses and local authorities.

Its vast range of select products and services is one of the largest offerings in Europe. This enables the company to meet all of its client's needs and help them reduce their indirect purchase costs.

With 26 subsidiaries established in 17 countries in Europe, the Group has more than 2 200 employees and has a turnover of 741 million euros in 2017/2018. Manutan France was awarded Best Workplaces in 2019.

Manutan International is listed on Euronext Paris – Compartment B - ISIN: FR0000032302-MAN. www.manutan.com

Next publication : Q4 2018/2019 Turnover : October 17th 2019 (after market closure)