Evrofarma S.A.

Earnings Release • Apr 11, 2025

Didymoteicho, 11/04/2025

PRESS RELEASE

Financial Results of EVROFARMA Group of Companies 2024

EVROFARMA Group of Companies continues to record a positive financial trajectory in 2024, achieving significant performance across all financial indicators. The increase in gross profit margin and final profitability for the fiscal year 2024 stemmed from the improvement in the operating profit of its subsidiary, Campus S.M.S.A., which arose from increased production of higher quality cow's milk, the maintenance of stable fixed costs, and a slight decline in animal feed costs.

The Group's substantial cash flows led to a reduction in borrowing by €5.3 million (28%). This resulted in a decrease from €18.7 million in the previous period to €13.4 million. This significant reduction in net borrowing underscores the company's consistently profitable trajectory.

Specifically, consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to €5,426 thousand (adjusted excluding provisions: €5,901 thousand) compared to €5,246 thousand in the previous year. Conversely, the company's pre-tax earnings decreased to €2,879 thousand from €3,504 thousand in the previous period.

Consolidated pre-tax earnings rose to €2,888 thousand, compared to €2,707 thousand in the previous year. Similarly, the company's pre-tax earnings decreased to €1,647 thousand from €2,375 thousand in the comparative period.

The consolidated net result after tax increased to profits of €2,280 thousand, compared to €2,202 thousand in the previous year. At the company level, the result decreased to €1,409 thousand from €2,133 thousand in the comparative period.

The gross consolidated profit margin was €10,226 thousand, compared to €8,594 thousand in the previous year, and €7,652 thousand for the company, compared to €7,020 thousand in the comparative period.

The consolidated turnover amounted to €45,719 thousand, a decrease of 6.2% compared to the previous year (€48,761 thousand), while the corporate turnover reached €44,129 thousand, an increase of 8.2% compared to the previous year (€40,779 thousand).

Exports showed impressive growth, rising from €4,575 thousand to €10,272 thousand, an increase of 125%, accounting for 23.28% of total sales.

Additionally, the investment plan was approved as part of the "Innovation and Green Transition in Agricultural Product Processing" program of the Recovery and Resilience Fund, with a budget of €7.26 million, and its implementation has already begun. The Group's total investments for 2025 are expected to reach €8.5 million, focusing on the construction of storage and distribution facilities in Didymoteicho, increasing the productivity and packaging of strained yogurt, as well as modernizing the general services of the factory. Investments in barn facilities and a new modern milking parlor for the subsidiary are also anticipated.

Following the 2024 financial results, the Board of Directors has decided to propose a gross dividend of €0.05 per share at the upcoming Annual General Meeting of Shareholders.

Management remains cautiously optimistic for 2025, focusing on the completion of investment projects.

Published on 11/04/2025, after the close of the Athens Stock Exchange session.

The 2024 financial statements will be available online on:

• Company's website http://www.evrofarma.gr
• ATHEX Group website http://www.athexgroup.gr.