HYGEIA GROUP: Financial Results 2016

3/4/2017

PRESS RELEASE

HYGEIA GROUP - 2016 Annual Financial Results

Y The operating performance of the Group continues to record marked improvement, despite the continuous unilateral, on the part of the Greek state, legislative obligation to implement the automatic rebate and claw-back mechanisms.

Y Consolidated EBITDA rose markedly by 45.5%, amounting to €32m.

Y Consolidated sales for the Group remained at high levels and amounted to

€227.7m, posting an increase of 3.4%.

Y Consolidated earnings after tax amounted to €760 thousand for the period.

The company Diagnostic & Therapeutic Center of Athens HYGEIA SA (hereinafter HYGEIA) released its consolidated financial statements for the 2016 fiscal year, in accordance with the International Financial Reporting Standards (IFRS).

The consolidated results for the 2016 and 2015 fiscal years have been negatively affected by the unilateral Greek government decisions for cutbacks when invoicing hospitalization fees and diagnostic tests for individuals insured with national insurer EOPYY (rebate and claw-back). These decisions are pursuant to Article 100 of Law 4172/2013 (Government Gazette Vol. A 167), were implemented retroactively on 01/01/2013 and will continue to be in force until 31/12/2018.

REVENUE: Consolidated revenue for 2016 reached €227.7m, up by 3.4%, as opposed to €220.3m in 2015.

EBITDA: Consolidated EBITDA increased significantly by 45.5%, reaching €32m, compared to €22m in earnings for the same period last year.

EBIT: Consolidated EBIT showed marked improvement, amounting to €13.5m, as opposed to €2.5m in earnings for 2015.

NET EARNINGS (LOSSES) AFTER TAXES & MINORITY INTERESTS:

Consolidated results after taxes from continuing operations recorded earnings of

€0.8m in 2016, as opposed to losses of -€26.6m in 2015.

Commenting on the results, HYGEIA Group CEO, Mr Andreas Kartapanis, issued the following statement:

Despite the continuing recession in 2016, marked by a climate of intense business uncertainty domestically, HYGEIA Group continues to follow its long-term strategic plan and demonstrate rising growth rates in its revenue and operating profitability, validating its leading position in the sector.

At HYGEIA Group, we mainly aim to identify risks on time and implement suitable tools that will ensure continuous growth, strong capital, adequate liquidity and constantly rising operating profitability.

Meanwhile, by developing the potential of our highly skilled human resources, we aspire to create contemporary and flexible business structures that promote the scientific and corporate efficiency of our Group.

True to our mission, one of the key pillars for the Group is the concept of Corporate Social Responsibility in terms of society, our employees, the environment and the economy. We undertake regular CSR initiatives and coordinated actions, with the ultimate aim being to achieve viable development and sustainability.

Our unwavering priority is to continue to offer healthcare services in tune with the highest standards worldwide, while striving for long-term growth and pledging to keep HYGEIA Group among the recognized leading organizations internationally. At the same time, we closely examine every investment opportunity that may arise and may contribute to achieving our vision.

MARFIN INVESTMENT GROUP, our majority shareholder, continues to assist us in our efforts to achieve our goals.

Detailed financial and other information is available on the Group's website at: www.hygeia.gr.

HYGEIA Hospital SA was founded in 1970 and has since been active in the provision of primary and secondary healthcare services, occupying a leading position in the private Greek healthcare sector. The Company is listed in the Athens Exchange and employs over 3,160 people. In January 2006, MARFIN INVESTMENT GROUP (MIG) gained control of the Company and launched a series of investment initiatives, with the strategic objective being to create the largest group of integrated healthcare services. HYGEIA Group owns three hospitals in Greece (HYGEIA, MITERA & LETO) and one in Albania (HYGEIA Tirana), with a total capacity of 1,261 licensed beds, 52 operating rooms, 19 delivery rooms and 10 ICUs. It is also active in the area of primary healthcare, as it owns two Diagnostic Centers (HYGEIANET Athens & Peristeri) and one Molecular Biology & Cytogenetics Center (AlfaLab), while it also runs a company trading in special materials, consumables, pharmaceuticals and general medical supplies (Y-LOGIMED). Furthermore, it is active in the area of research, production and trading of medical cosmetics (BEATIFIC).