Clasquin: The 4th Quarter Confirms the Recovery of Business Activity Observed in Q3

Regulatory News:

Clasquin (Paris:ALCLA):

*Excluding Gueppe-Clasquin, a subsidiary (70% ownership) specialised in road haulage, freighting and logistics.
**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.

• After a phase of business slowing down in 2012 that continued in the 1^st half of 2013, world trade resumed slight growth in the second half of 2013, finally resulting in annual growth of 2.9% over the whole year (source: FMI).
• In this environment, after a difficult start to the year, Clasquin saw a business recovery in the 3^rd quarter that was confirmed in the 4^th quarter.

Supported by the drive of its sales teams, the group finished the year with strong growth, both in the number of shipments (up 8.4% in Q4) and in volumes carried (Q4: up 9.7% in sea freight (TEU) and up 13.8% in air freight (tonnage)).

• Sea freight rates on the Asia-Europe route experienced a highly volatile year and finished with strong growth (x 2.4 between September and December).

Air freight rates remained very stable.

DETAILS ON ACTIVITY BY BUSINESS LINE

* *Excluded Intercargo, freight forwarder with its Head office in Barcelona, acquired by the Group in 2012.

2014 UPCOMING EVENTS (publications issued after market closure)

• Wednesday 19 March 2014 : 2013 Results
• Wednesday 7 May 2014 : Business report as of 31 March 2014
• Thursday 28 August 2014 : Business report as of 30 June 2014
• Wednesday 17 September 2014 : 2014 Half year results
• Thursday 30 October 2014 : Business report as of 30 September 2014