Attica posts strong financial results

BlueStar-Ferries

The Board of Directors of Attica Holdings S.A. (Attica Group), member of Marfin Investment Group (MIG), announces the Group’s nine month 2015 financial results which show consolidated Revenues of Euro 222.47 mln (increased by 4.1% against Euro 213.69 mln in nine month 2014 period) and significant growth in Earnings before interest, taxes, investing and financial results, depreciation and amortisation (EBITDA) to Euro 72.86 mln from Euro 36.19 mln for the same period in 2014, as well as, consolidated Profits before interest, taxes, investing and financial results (EBIT) of Euro 54.87 mln compared to Euro 18.06 m ln for the same period in 2014.

ATTICA GROUP NINE MONTH 201 5 RESULTS

CONSOLIDATED REVENUE OF EURO 222.47 MLN (EURO 213.69 MLN IN NINE MONTH 2014), INCREASE OF 4.1 %

SIGNIFICANT INCREASE 101.3% IN EARNINGS BEFORE INTEREST, TAXES, INVESTING AND FINANCIAL RESULTS, DEPRECIATION AND AMORTISATION (EBITDA) TO EURO 72.86 MLN AGAINST EURO 3 6.19 MLN IN NINE MONTH 201 4

INCREASE IN AFTER TAX NET PROFITS TO EURO 34.49 MLN AGAINST EURO 6 .1 1 MLN IN NINE MONTH 201 4

TRAFFIC VOLUMES IMPROVED IN ALL CATEGORIES, 7.7 % IN PASSENGERS, 7.2% IN PRIVATE VEHICLES AND 3.4% IN FREIGHT UNITS

Consolidated Profits after tax amounted to Euro 34.49 mln compared to Profits of 6.11 mln in same period in 2014. Worth noting, that t he above mentioned performance of the Group, was achieved within a challenging economic environment which deteriorated by the imposed restrictions on capital flows (capital controls) last July. This development reduced substantially liquidity conditions in Greek economy, influencing consequently the traffic volumes of the Group and in general the whole passenger shipping sector in the two most important months of the year (July and August) in regard to passenger and vehicles traffic volumes. The Group’s management continuously assesses the developments and responds to the new requirements with active vessel deployment and redeployment of the fleet. These actions enhanced capacity utilization and revenue per sailing in the nine months 2015 and resulted in fuel savings, which in combination with the decline in fuel prices decreased operating costs. As at 3 0 t h September , 2015 Attica’s cash balances stood at Euro 60.43 mln (Euro 23.94mln as at 31 st December, 2014). Fixed assets of the Group stood at Euro 567.89 mln (Euro 581.01mln as at 31 st December, 2014). Total debt of the Group stood as at 3 0 t h September , 2015 at Euro 285.00 mln (Euro 282.16mln as at 31st December, 2014) from which long – term borrowings are Euro 271.95 mln (Euro 270.80mln as at 31st December, 2014) and short – term borrowings are Euro 13.05 mln (Euro 11.36mln as at 31st December, 2014). The Group’s total equity as at 30th September, 2015 stood at Euro 377.63 mln, corresponding to Euro 1. 97 per share.

TRAFFIC VOLUMES

During the nine months of 2015, Attica Group operated through its subsidiaries in the Adriatic Sea and in the Greek domestic sea routes with an owned fleet of twelve Ro – Pax vessels, out of which three were deployed in the Adriatic Sea and nine in domestic routes. Furthermore, on 0 8. 0 4.2015 the Group took delivery of Ro – Pax Blue Galaxy under a bareboat charter agreement. The vessel operates from 24.0 4.2015 on the Piraeus – Chania (Crete) route.

During the period January to September 2015 Attica’s vessels carried 3.73 mln passengers against 3.46 mln in the same period in 201 4,480.61 thousand private vehicles against 448.26 thousand in the same period in 2014 and 205.61 thousand freight units against 198.85 thousand in 2014. In the Adriatic Sea and specifically in the Patras – Igoumenitsa – Ancona route and in the Patras – Igoumenitsa – Bari route, the traffic volumes of the vessels Superfast XI, Superfast I and Superfast II ( in joint service with ANEK), decreased by 28.3% in passengers, 29.5% in private vehicles and 11 .1% in freight units. The Adriatic Sea sailings were performed with one v essel less and dropped by 16 . 2 % compared to the same period in 2014. On the Greek domestic routes, and specifically on the Piraeus – Cyclades route, Piraeus – Dodekanese islands route, Piraeus – Herakleion route, Piraeus – Chios – Mytilene route and from 24.04.2015 Piraeus – Chania route, Attica’s traffic volumes in the nine months of 2015, with 4.5% more sailings compared to the same period of 2014, in creased by 12.9 % in passengers, 16.7% in private vehicles and 12.7 % in freight units compared to the same period in 2014. In Piraeus – Heraklion route and Piraeus – Chania route the vessels of the Group are in joint service with vessels of ANEK. The sailings in the Greek domestic sea routes were performed, until the end of April, with one vessel less compared to the same period in 2014 due to the sale of the vessel Blue Star Ithaki.

SIGNIFICANT EVENTS / CURRENT DEVELOPMENTS

During the first months of 2015 the Group experienced increased traffic volumes, a trend that was interrupted at the end of June with the announcement of the bank holiday in Greece and the imposition of capital controls. The Group’s management, assessing on an on – going basis the constantly changing economic environment, assumes all necessary actions to ensure the Group’s interests and to minimize any potential effects that may occur in its financial position. Attica Group, as part of its fleet strengthening initiatives, chartered on 08.04.2015 the Ro – Pax Blue Galaxy under a long – term bareboat charter agreement. The vessel was completely renovated in order to fulfill all the specifications and high quality standards that characterize all vessels of Attica Group. The vessel operates since 24.04.2015 on the Piraeus – Chania (Crete) route as part of the joint service with ANEK Lines S.A. On 22.05.2015 Superfast Ferries celebrated 20 years from its first sailings. In twenty years of operations, Superfast Ferries, established in Greece and flying the Greek flag, transported over 12,000,000 passengers, 2,500,000 freight units and 2,500,000 private vehicles in Adriatic, Baltic and North Sea. Next goal is to develop new destinations, maintaining the service quality that always characterizes th e vessels of Superfast and Attica Group. On 08.07.2015 Attica Holdings S.A. announced that the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) granted Attica approval to operate through its wholly owned subsidiary, Superfast Ferries (USA) LLC, a marine route between US and Cuba, in connection with travel or transportation of persons, baggage or cargo between the United States and Cuba. Attica is in the process of applying for appropriate regulatory and other approvals from the Cuban government. The Management of Attica Group continues to assess plans for further revenue growth including alternative fleet deployment combinations, as well as, development of new international routes.

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