CLASQUIN

Earnings Release • Oct 26, 2017

FINANCIAL PRESS RELEASE

www.clasquin.com

Lyon, 26 October 2017 (after market closure)

ROBUST BUSINESS VOLUMES AND GROSS PROFIT GROWTH IN Q3, IN LINE WITH H1 PERFORMANCE

	Sept 2017 9 months	Sept 2016 9 months	Sept 2017/ Sept 2016 (at current exchange rate)	Sept 2017/ Sept 2016 (at constant exchange rate)	Q3 2017/ Q3 2016
CONSOLIDATED (unaudited)
Number of shipments	181,527	164,223	+10.5%	+10.5%	+14.3%
Sales (€M) *	210.3	165.9	+26.8%	+27.0%	+25.3%
Gross profit (€M)	45.9	42.2	8.8%	+9.1%	+8.7%

* 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.

BUSINESS REVIEW

In a persistently buoyant market, Q3 saw accelerated growth across all business lines in terms of number of shipments and volumes shipped. This robust growth was mainly driven by the Group's capacity to acquire new clients and validates the ongoing expenditure designed to boost its ability to outperform the market.

Gross profit in the air and sea freight businesses (81% of total Group gross profit) increased by over 13% in Q3, reflecting steady unit margins.

The RO/RO business (10% of Group gross profit) saw a slight decline in gross profit due to the temporary impact of a new client mix.

The gross profit posted by the "Others" business line (6% of Group gross profit) was impacted by an unfavourable basis of comparison.

FINANCIAL PRESS RELEASE

www.clasquin.com

DETAILS ON ACTIVITY BY BUSINESS LINE

	Number of shipments			Gross profit (€M)
At current exchange rate	30.09.2017	30.09.2016	30.09.2017/ 30.09.2016	Q3 2017/ Q3 2016	30.09.2017	30.09.2016	30.09.2017/ 30.09.2016	Q3 2017/ Q3 2016
Sea freight	83,963	75,524	+11.2%	+14.9%	22.5	20.5	+10.2%	+13.9%
Air freight	58,240	53,016	+9.9%	+13.1%	14.8	13.1	+12.9%	+13.5%
RO/RO*	28,039	24,864	+12.8%	+17.8%	4.6	4.7	-1.7%	-5.3%
Others	11,285	10,819	+4.3%	+8.2%	3.1	3.1	+1,5%	-17.6%
TOTAL OVERSEAS ACTIVITY	181,527	164,223	+10.5%	+14.3%	45.1	41.3	+9.1%	+9.0%
Log System					2.0	1.8	+9.5%	-0.2%
Consolidation entries					-1.1	-0.9	NA	NA
TOTAL CONSOLIDATED					45.9	42.2	+8.8%	+8.7%
* Roll On / Roll Off

		Volumes
	30.09.2017	30.09.2016	30.09.2017/ 30.09.2016	Q3 2017/ Q3 2016
Sea freight	126,822 TEUs*	107,100 TEUs*	+18.4%	+23.6%
Air freight	44,537 T**	36,438 T**	+22.2%	+16.8%
*Twenty Equivalent Units	**Tons

Q3 2017 HIGHLIGHT

The deployment of our new Transport Management System (TMS), CargoWise One (published by market leader Wisetech), is progressing according to plan.

Following deployment in Milan (April) and Hong Kong (June), our Chinese subsidiary (7 offices) has now migrated to this new system.

2017 OUTLOOK

Market

Growth of more than 3-4%.

Clasquin

Growth significantly higher than market growth.

UPCOMING EVENTS (publication after market closure)

• Wednesday 21 March 2018: 2017 Annual results
• Wednesday 19 September 2018: 2018 Half year results
• Thursday 22 February 2018: Business report as at 31 December 2017 Thursday 26 April 2018: Business report as at 31 March 2018 Thursday 30 August 2018: Business report as at 30 June 2018
• Thursday 25 October 2018: Business report as at 30 September 2018

CLASQUIN CONTACTS

Philippe LONS – Deputy Managing Director and CFO Stéphanie CHALANDON – Financial Communication contact

CLASQUIN Group – 235 cours Lafayette – 69006 Lyon Tél : 04 72 83 17 00 – Fax : 04 72 83 17 33

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.