Sarantis Group announced strong performance in its financial results for the first half of 2024 after the acquisition of Stella Pack, leading to record sales and high profitability.

In particular, in the highlights of the first half of 2024:

• Focused implementation of strategic priorities brought record sales in the first half of the year
  Published sales in H1 2024 (including Stella Pack) amounted to €302.6m compared to €232.4m in H1 2023, up 30.2%, underscoring the contribution of Stella Pack.
• Comparable sales in H1 2024 (excluding Stella Pack) amounted to €263.4 million compared to €232.4 million in H1 2023, up 13.4% as a result of the Group's commitment to its strategic priorities and the sound management of revenue growth opportunities, confirming the creation of strong organic growth.
• A strong commitment to margin improvement led to a significant increase in EBITDA and EBIT

As noted in the announcement, the group has made significant progress with the operational consolidation during the first half of the year and continues as planned. During the period, the group made full repayment of the Stella Pack loans of €8.5m.

As stated, "We renew our confidence in the achievement of our 2024 targets as presented during the Sarandi Group Investor Day held on 14 March 2024."

CEO STATEMENT

Mr. Yannis Bouras, CEO of Sarantis Group, commented on the financial results for the first half of 2024:

"The first half of the year was strong as we achieved record sales and profitability, continuing to focus on the execution of our growth strategy. Remaining focused on investment and innovation in our core categories with targeted initiatives, we continue to make significant progress on our strategic priorities. In the first half of 2024, Stella Pack complements the group's organic growth with the integration process making progress and its contribution further strengthening the consumer home care portfolio. At the same time, we are accelerating our digital business transformation through the digitisation of our way of doing business, which will enable us to further improve our efficiency and strengthen our competitive advantages.

I would like to express my gratitude to our people across our markets and to the group for their passion, dedication, and support. By jointly driving growth, we have achieved significant progress and strong performance, which reinforces our confidence in achieving the targets we have set for 2024."