Clasquin: Strong Growth in Q1 2016

Regulatory News:

Clasquin (Paris:ALCLA):

* Adjusted for the impact of divested operations (Gueppe Clasquin).
**Note: Sales is not a relevant indicator for assessing activity in our business, because it is greatly impacted by changing sea and air freight rates, fuel surcharges, exchange rates (especially versus the $), etc. Variations in the number of shipments, the volumes shipped and—in terms of the Group's finances—gross profit are relevant indicators.

• The market in Q1 2016:
  • The growth in the global sea freight market in volume was sluggish over the 1^st quarter and helped keep sea freight rates very low.
  • The global air freight market dropped by 3/4% over the same period.

• Clasquin in Q1 2016:
  • Most of the growth is associated with the acquisition of LCI* on 01 April 2015.
  • For comparable scope and exchange rates, business is experiencing modest growth (number of shipments: + 0.3% / Gross profit: + 1.4%).

* LCI: a company specialising in freight forwarding between France and Maghreb countries. 3 sites in France and 3 subsidiaries and interests in Tunisia.

DETAILS ON ACTIVITY BY BUSINESS LINE

* The strong growth in ‘Other’ activity is linked to the acquisition of LCI: number of operations for 3 months (January-March 2016): 8,605; GP for 3 months: €1.7m.
** Twenty Equivalent Units
*** Tons

Q1 2016 HIGHLIGHT

Several development projects since the start of the year:

• In early 2016, by way of one of its American subsidiaries (Secure), the Group acquired a small "customs" business in New York (GP: €0.4 M).
• In January 2016, Clasquin India opened a new office in Bangalore, which brings the number of locations in that country to four.
• The group signed a protocol to acquire a company that specialises in organising the transport of works of art: Art Shipping International. This Paris-based company has total sales of €1.4m and gross profit of over €0.7m. The primary flows are to and from the USA, Switzerland, Dubai and Hong Kong. The closing is scheduled for May 2016.

Other development projects should materialise in the months ahead.

2016 OUTLOOK

Marché :
Modest growth.

Clasquin :
Business growth is greater than market growth.

2015 ANNUAL REPORT

The 2015 annual report was posted online today on our website www.clasquin.com. It can be viewed under the "Financial Reports" menu.

UP COMING EVENTS (publication issued after market closure)

• Tuesday 7 June 2016 : Combined General Meeting
• Thursday 25 August 2016 : Business report as at 30 June 2016
• Wednesday 21 September 2016 : 2016 Half year results
• Thursday 27 October 2016 : Business report as at 30 September 2016

CLASQUIN Group - 235 cours Lafayette - 69006 Lyon

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