Technopls Ventures Ltd. — Earnings Release 2014

Aug 20, 2014

Technopolis Group Interim Report January 1 – June 30, 2014

Technopolis Group Interim Report January 1 – June 30, 2014

TECHNOPOLIS PLC INTERIM REPORT August 20, 2014 at 8:00 a.m.

Technopolis Group Interim Report January 1 - June 30, 2014

Financial Occupancy Rate and Direct Result Remained Strong

Key figures 1-6/2014 compared with 1-6/2013

• Net sales totaled EUR 80.0 (60.9) million, up 31.5%
• EBITDA rose to EUR 42.6 (30.2) million, up 41.3%
• Financial occupancy rate was 93.5% (92.7%)
• Earnings per share were EUR 0.08 (0.11), including changes in fair value and
  unrealized exchange rate losses
• Fair values down EUR 10.0 (6.5) million
• Unrealized exchange rate losses amounted to -2.4 (-4.1) million
• Direct result (EPRA) was EUR 25.0 (18.5) million, an increase of 35.5%
• Direct result per share (EPRA) was EUR 0.24 (0.22)
• Net asset value per share (EPRA) was EUR 4.86 (4.98)

The acquisitions completed in 2013 and investments in campus expansions fueled
the growth in net sales, EBITDA and direct result. Technopolis reiterates its
full 2014 financial outlook and expects a year-on-year increase of 27-32% in
net sales and 35-40% in EBITDA.

                                    4-6/   4-6/  1-6/  1-6/  1-12/

Key Indicators 2014 2013 2014 2013 2013

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Net sales, EUR million 40.4 31.2 80.0 60.9 126.3
EBITDA, EUR million 22.0 16.2 42.6 30.2 64.1
Operating profit, EUR million 9.7 5.7 30.4 22.4 43.9
Net result for the period, EUR million 2.1 -1.1 10.9 9.7 28.8
Earnings/share, EUR 0.01 -0.01 0.08 0.11 0.30
Cash flow from operations/share, EUR 0.16 0.14 0.32 0.26 0.53
Equity ratio, % 40.6 39.3 40.2
Equity/share, EUR 4.56 4.50 4.66

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Earnings and balance sheet figures per share have been share-issue adjusted.

EPRA-based 4-6/ 4-6/ 1-6/ 1-6/ 1-12/
Key Indicators 2014 2013 2014 2013 2013

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Direct result, EUR million 12.3 10.5 25.0 18.5 40.5
Direct result/share, diluted, EUR 0.12 0.12 0.24 0.22 0.47
Net asset value/share, EUR 4.86 4.98 4.90
Net rental yield, % 7.2 7.5 7.6
Financial occupancy rate, % 93.5 92.7 93.6

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The EPRA-based (European Public Real Estate Association) direct result
increased by 35.5% to EUR 25.0 (18.5) million. The EPRA-based direct result
does not include unrealized exchange rate gains or losses or fair value
changes. Growth came primarily from the increase in net sales and EBITDA.

Keith Silverang, CEO:

“The first half of 2014 was a good one for the company. Our net sales increased
by 31.5% and EBITDA by 41.3%, and the company's financial position is strong.
We have focused on integrating the acquisitions made in 2013, improving
profitability, and developing operational efficiency. We are almost finished
with the integration of the Vilnius and Espoo Innopoli 3 campuses. The initial
take-over phase in Oslo is complete, but the service integration process will
take a year or two.

The company's financial occupancy rate decreased by 0.5 percentage points from
the first quarter to 93.5%. Our view is that financial occupancy rate will
remain strong in 2014, even though the sluggish performance of the Finnish
economy will pose challenges in some cities. Demand and occupancy have been
strong in Technopolis' international units. The impact of the Ukraine crisis on
St. Petersburg operations has so far been minor. Russian business operations
account for 6% of the company's balance sheet.

The shut-down of some electronics industry companies' operations in Oulu
announced this summer will eventually have an impact on our operations, but the
effects this year will be minor. The space leased by these companies totals
30,000 m², or approximately 4% of the total. Leases are expiring between 2015
and 2020.However, based on our track record I am confident we will be able to
replace these customers, as we have done before. During the last five years, we
have re-let 91,000 m² of space in Oulu, so this is nothing new for us.

Moving forward we will continue to focus on the basics: integrating acquired
campuses, improving the profitability of operations, and enhancing both the
efficiency of our operations and customer satisfaction.”

Full version of Technopolis Plc's interim report January 1 - June 30, 2014
attached.

Additional information:
Keith Silverang
CEO
tel. +358 40 566 7785

Distribution:
NASDAQ OMX Helsinki, main news media, www.technopolis.fi

About Technopolis:
Technopolis provides the best addresses for companies to operate and succeed in
five countries in the Nordic-Baltic region. The company develops, owns and
operates a chain of 21 smart business parks that combine services with flexible
and modern office space. The company's core value is to continuously exceed
customer expectations by providing outstanding solutions to 1,700 companies and
their 40,000 employees in Finland, Norway, Estonia, Russia and Lithuania. The
Technopolis Plc share (TPS1V) is listed on NASDAQ OMX Helsinki.

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