Announcement of the financial results of fiscal year 2017 to the analysts
The Management Team of THPA SA, briefed on 31.05.2018 the Financial Analysts on the Company's financial results for the year of 2017.

The turnover of the Company for 2017 amounted to euro 54.2 million compared to euro 48.1 million in 2016, recording an increase of 12.84%.

Revenue by operating segment is distributed as follows: Container Terminal operations amounted to euro 35.4 million, corresponding to 65.27% of the total turnover; Conventional Port operations amounted to euro 16.9 million, corresponding to 31.23% of the total turnover; Passenger Port operations amounted to euro 210 thousand, corresponding to 0.39% of the total turnover; and Exploitation of Open and Covered Spaces amounted to euro 1.7 million, corresponding to 3.12% of the total turnover.

Profits before tax amounted to at euro 12.5 million compared to euro 21.1 million in 2016 recording a decrease of 40.83% and as a percentage of turnover of 23%, while profits net of taxes were euro 7.2 million compared to euro 14.1 million in 2016 recording a decrease of 48.57% and as a percentage of turnover of 13.36%.

The aforementioned result is attributed to the significant increase in depreciation due to the revaluation of the useful life of the port equipment; the impairment of the company's assets; and the significant increase in provisions to mitigate risks.

The new Management Team believes that by employing this approach, the Financial Statements reflect realistically the financial starting point of the Company under the new Shareholdership.

THPA SA is a robust Company with null borrowing. In 2017 there was an increase of 19.80% of the invested cash funds, from euro 71.6 million to euro 85.8 million. The cash equivalents along with the other financial assets amounted to euro 90,3 million.

The Company's dividend policy aims to satisfy the shareholders along with the creation of reserves for the financing of its investments. The proposed dividend of earnings for the year 2017 is euro 0.16 per share.

It is noted that from the throughput data of the four (4) first months of 2018, Container Terminal traffic is increased by 8.4%.