Silvano Fashion Group Consolidated Interim Financial Report for Q2 and 6 months of 2018 (unaudited)

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Summarized selected financial indicators of the Group for 6 months of 2018 compared to 6 months of 2017 and 30.06.2018 compared to 31.12.2017 were as follows:

The Group`s revenue amounted to 33 533 thousand EUR for 6 months of 2018, representing a 2.2% increase as compared to the same period of previous year. Overall, wholesales increased by 3.5% measured in EUR.

The Group’s reported gross profit margin for 6 months of 2018 continued to improve increasing to 57.8%, reported gross margin was 49.5% in the respective period of previous year. Consolidated operating profit for 6 months of 2018 amounted to 11 020 thousand EUR, compared to 7 122 thousand EUR in 6 months of 2017. The consolidated operating profit margin was 32.9% for 6 months of 2018 (21.7% in 6 months of 2017). Consolidated EBITDA for 6 months of 2018 was 11 810 thousand EUR, which is 35.2% in margin terms (8 094 thousand EUR and 24.7% for 6 months of 2017).

Reported consolidated net profit attributable to equity holders of the Parent company for 6 months of 2018 amounted to 7 657 thousand EUR, compared to net profit of 5 434 thousand EUR in 6 months of 2017, net profit margin attributable to equity holders of the Parent company for 6 months of 2018 was 22.8% against 16.6% in 6 months of 2017. As of 30 June 2018 consolidated assets amounted to 51 090 thousand EUR representing a decrease of 3.4% as compared to the position as of 31 December 2017.Trade and other receivables increased by 1 078 thousand EUR as compared to 31 December 2017 and amounted to 3 794 thousand EUR as of 30 June 2018. Inventory balance increased by 950 thousand EUR and amounted to 18 710 thousand EUR as of 30 June 2018.

Equity attributable to equity holders of the Parent company decreased by 10 218 thousand EUR and amounted to   30 756 thousand EUR as of 30 June 2018. Current liabilities increased by 7 971 thousand EUR for 6 months of 2018.

Total salaries and related taxes for 6 months of 2018 amounted to 6 474 thousand EUR (7 418 thousand EUR in 6 months of 2017). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 407 thousand EUR.

On June 28, 2018 Silvano Fashion Group held its regular Annual General Meeting of Shareholders. The Meeting adopted the following decisions.

Jarek Särgava AS Silvano Fashion Group Member of the Board Phone: +372 6845 000 Email: info@silvanofashon.com

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Globe Newswire: 12:20 GMT Friday 10th August 2018

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