Europris — Earnings Release 2016

Nov 3, 2016

A soft start followed by market outperformance in the last two months

A soft start followed by market outperformance in the last two months

Fredrikstad, 3 November 2016 (OSE:EPR):

Total revenues for the third quarter 2016 were NOK 1,218 million, up 7.3 per

cent from NOK 1,135 million in equivalent period in 2015. Adjusted EBIT rose by

6.4 per cent to NOK 110 million (NOK 104).

Robust sales in the important second quarter resulted in a softer start in July

as consumer demand for spring and summer products had largely been satisfied.

However, a significant pick-up in sales in the last two months of the third

quarter lead to above-market performance in August and September, despite a

delay in the seasonal shift to autumn. Overall, like-for-like sales in the third

quarter increased by 1.5 per cent, compared with the market benchmark of 2.1 per

cent.

Overall performance in the first nine months of 2016 was healthy, with chain

revenues increasing 7.3 per cent to NOK 3,795 million (3,537 million). This

represents a like-for-like sales growth of 3.8 per cent in the first nine months

of 2016, compared with 2.8 per cent growth for the market benchmark.

- Our success in the second quarter was followed by a somewhat disappointing

start in the third quarter. However, we succeeded in lifting sales considerably

outperforming the market on a like-for-like basis in August and September, says

CEO Pål Wibe.

Europris added three new stores during the quarter, of which two were located in

shopping centres, bringing the total number of stores in the group to 238. The

group's latest vintage of stores performs well, generally delivering sales above

initial expectations.

Significant progress was made to the pipeline of new stores for 2017, adding

seven new stores in the quarter. Management plans to open thirteen new locations

for the full year so far.

Please find the report and presentation for the third quarter 2016 enclosed.

For further information, please contact:

CEO Pål Wibe, tel.: +47 99 11 98 91

CFO Espen Eldal, tel.: +47 48 29 24 24

About Europris:

Europris is Norway's largest discount variety retailer by sales. The company

offers its customers a broad assortment of quality owned brands and brand name

merchandise. The company's merchandise is sold through the Europris chain, which

consists of a network of 238 stores throughout Norway. 178 stores are directly

owned by the company and 60 operate as franchise stores. The company's

headquarters are located in Fredrikstad, Norway.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.