Keo PLC — Management Reports 2015

Apr 27, 2015

KEO: Interim Management Statement

KEO plc presents the first Interim Management Statement of the Company and its subsidiaries for the year 2015. The Interim Management Statement has been prepared in accordance with Article 11 of the Transparency Requirements (Securities Admitted to Trading on Regulated Market) Law of 2007 (N.190(I)/2007) and is showed below:

MAIN ACTIVITIES

The main activities of the Group, which have not been changed since the previous year. include the vinification of vine products, the production of beer and juices and bottling of natural mineral water which are distributed in the local market and overseas.

TURNOVER

The Group's gross turnover during the first 3 months of the year has decreased by 2.27% in relation to the same period in the previous year.

This decrease is due to the overall shrinkage of the market with the Retail Price Index for food and beverages for January 2015 showing a decrease by 2.8% in relation to the same period in the previous vear.

PROFITABILITY

The Group's loss during the first 3 months of the year has increased by $\in$ 289 thous. (i.e. 25%) in relation to the same period in the previous year. It is noted that the results for the same period in the previous year included profit of €200 thous. from the sale of machinery which is not repetitive, as well as rental income of €43 thous, received by the subsidiary company in the United Kingdom which was sold.

MAJOR RISKS AND UNCERTAINTIES

The major risks and uncertainties that the Group faces remain unchanged from those described in the Company's Annual Report for the year 2014.

SIGNIFICANT EVENTS AND TRANSACTIONS

There have been no other significant events and transactions, other than the normal operating activities of the Group, which had an impact on the financial position of the Company and its subsidiaries