ANNUAL REPORT 2016

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HIGHLY SUCCESSFUL YEAR FOR THE PFLEIDERER GROUP

Letter from the president of the management board
2016 was not only the most exceptional year in the last 20 years of Pfleiderer Group, but also a significant milestone...
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Capital Market Day
See the video from the meeting with investors which took place in 2016 in Wieruszów.

Pfleiderer Group at a glance

Leading particleboard producer No. 1 in Germany and No. 2 in Poland
Approx. 1 billion euros revenues in 2016
EUR 149 million
sust. EBITDA in 2016
15.5% margin
(Comparable business)
Successful integration approx. EUR 32 million of synergies by the end of 2018
Value-add products (MFC&HPL) - 65% of total sales in 2016
1st wood producer (capacities) in Poland and Germany
Company listed on the Warsaw Stock Exchange since 1997
Stable dividend policy - PLN 71.2 millon or PLN 1.1 per share – Management Board recommendation on dividend payment from the net profit for 2016
3,512 employees in Poland and Germany
Deleveraging from 4.0x in 2014 to 1.6x in 2016
Leading particleboard producer No. 1 in Germany and No. 2 in Poland
Approx. 1 billion euros revenues in 2016
EUR 149 million sust. EBITDA in 2016 15.5% margin
(Comparable business)
Successful integration approx. EUR 32 million of synergies by the end of 2018
Value-add products (MFC&HPL) - 65% of total sales in 2015
1st wood producer (capacities) in Poland and Germany
Company listed on the Warsaw Stock Exchange since 1997
Stable dividend policy - PLN 71.2 millon or PLN 1.1 per share – Management Board recommendation on dividend payment from the net profit for 2016
3,512 employees in Poland and Germany
Deleveraging from 4.0x in 2014 to 1.6x in 2016

PFLEIDERER GROUP IN 2016

Good set of financial results supported by favorable market conditions
(Comparable business)
12.5 %
growth of the Group's sustainable EBITDA
15.5 %
EBITDA margin
EUR 52.0 million
Capital Expenditures - all strategic Capex projects are well on track
REVENUES (€m)
0.0
0.0
2015
2016
Sust. EBITDA (€m)
0.0
0.0
2015
2016
NET INCOME (€m)
0.0
0.0
2015
2016

KEY ACHIEVEMENTS IN 2016

EBITDA margin was raised
to 15.5% of revenue and to be record since 1996 (Comparable business)
Reorganization
of the Pfleiderer Group is completed
One Pfleiderer cost synergies already achieved EUR 18 million
(vs. total target of approx. EUR 32 million by the end of 2018)
The Company has changed the name under which
it does business to Pfleiderer Group S.A.
It's registered office has been relocated
to Wrocław
Higher volume of sales across all segments, in particular
by value-added products
EBITDA margin was raised to 15.5% of revenue and to be record since 1996 (Comparable business)
The company has changed the name under which it does business to PFLEIDERER GROUP S.A.
HIGHER VOLUME OF SALES across all segments, in particular by value-added products
One Pfleiderer cost synergies already achieved EUR 18 million (vs. total target of approx. EUR 32 million by the end of 2018)
REORGANIZATION of the PFL Group is COMPLETED
It's registered office has been relocated TO WROCłAW

Pfleiderer group on the Warsaw Stock Exchange

Pfleiderer Group Quotations (19.01.2016-30.12.2016)

PFL
Market ticker
PLN 02.4 bn*
Market capitalization
048.4 %
Growth of share price in 2016
049 %
Free float
*as of 31 Dec. 2016
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