CONTINUE TO GROW TOP LINE ORGANICALLY

BY 9% IN ORIGINAL CURRENCY

STRONG OPERATING CASH-FLOW OF 70M$

SUCCESSFUL ACQUISITION OF P.J.SALVAGE

SUCCESSFUL INTEGRATION OF JV’s

HEADWINDS FROM EX-RATES FLUCTUATIONS

NEGATIVELY IMPACT THE EBIT BY 7.3M$

INCREASE IN SAME STORE SALES IN

GERMANY(4.4%) AND IN ISRAEL (5.7%)