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2014-05-09

Restamax Plc: RESTAMAX PLC INTERIM REPORT BETWEEN 1 JANUARY AND 31 MARCH 2014

Restamax Plc
INTERIM REPORT 9 MAY 2014 10 AM

RESTAMAX PLC INTERIM REPORT BETWEEN 1 JANUARY AND 31 MARCH 2014

Turnover grew by 4.8 per cent and profitability improved in January-March 2014

Turnover and income

The income of the group's first quarter of 2014

Restamax's turnover for the first quarter was MEUR 15.9 (MEUR 15.2), a growth
of 4.8% over last year. EBITDA was MEUR 1.4 (MEUR 1.3). The Group's operating
profit was TEUR 87 (TEUR -23).

Prospects for 2014

Profit guidance (unchanged since 5 March 2014):
Restamax estimates that the 2014 turnover will increase to MEUR 86-97. The
company estimates that the 2014 EBITDA will increase to MEUR 14.5-16.3 and
the operating profit to MEUR 8.7-10.4.

The company's goal is to reach a turnover of MEUR 100 by the end of 2015. With
the purchase of the Rengasravintolat Group during the first quarter of 2014,
the company estimates it will come close to meeting this goal already in
2014.

Due the seasonal nature of the restaurant business, most of the profits are
made at the end of the year.

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|Key figures: |
| |
| |
|(TEUR) |
| 1-3/14 1-3/13 1-12/13 |
|Turnover 15,914 15,178 65,033 |
|EBITDA 1,415 1,253 9,146 |
|EBITDA % 8.9% 8.3% 14.1% |
|Operating profit 87 -23 4,051 |
|Operating profit % 0.6% -0.1% 6.2% |
|Profit for the review period 71 -398 2,908 |
|Earnings per share for parent company shareholders 102 -475 2,565 |
|For minority shareholders -31 77 344 |
|Earnings per share for parent company shareholders (EUR) 0.01 -0.05 0.24 |
|Interest-bearing net liabilities 7,685.2 8,690.0 6,183.8 |
|Gearing ratio 20.3% 65.6% 21.9% |
|Equity ratio 61.3% 40.4% 60.9% |
|Key figures: |
|Material margin % 75.4% 75.6% 73.9% |
|Staff expenses % 29.5% 32.0% 30.1% |
| |
|(incl. rented workforce) |
|Return on investment % 0.3% -0.2% 10.7% |
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CEO Markku Virtanen:

In November 2013, Restamax became the first Finnish listed restaurant company.
Our growth speed in 2013 was slightly calmer than in the previous years, as
the company concentrated on the listing project. The first quarter of 2014
has shown that the year will once again be one of growth for Restamax.

The stock exchange listing yielded capital of MEUR 15.5 for growth.
Investments were started immediately, and 2014 also began under strong
conditions of growth. In January 2014, together with Hans Välimäki Restamax
established Gastromax Oy, which includes the Midhill restaurants located in
Helsinki and Tampere. In March, the company opened the Masu Asian Bistro in
Tampere and, in Helsinki, new launches are being carried out in the second
quarter of 2014.

In March, Restamax also made the largest business transaction in its history
by acquiring the Rengasravintolat Group. As a result of the acquisition, 16
new restaurants were transferred to our portfolio. The transaction also
helped us strengthen our position in the Helsinki region and we expanded our
operations to the new market area of Pori.

Ever since the company's inception, our objective has been to grow the
business rapidly and boldly. We have aimed to offer individual restaurant
services to different customers. We are on the right track. Now, at the
beginning of 2014, our group comprises more than 80 restaurants all over
Finland: nightclubs, restaurants, pubs and cafés.

Restamax's approach aims to develop a range of restaurant concepts to meet
local demand. Our extensive restaurant portfolio based on almost 40 different
concepts, enables increasingly large market shares in different locations. We
are, however, aiming to avoid establishing chains, as the American-style
world of chains does not suit us. In Finland, the market for this is too
small. Expansion requires many new individual concepts, which are tailored to
suit the needs of each locality. By means of our operating model, we can not
only boost our operations locally, but also offer a comprehensive range of
restaurants for our customers. Our diverse portfolio comprises a chain of
experiences, including café, restaurant and entertainment services from early
morning till late night.

In recent years, the overall market in the restaurant field in Finland has
grown by approximately 3-4%, or somewhat stronger than the gross national
product. In 2013, increase in turnover in the sector was 1.4%. Although the
general economic situation in Finland has continued to be unstable and costs
have continued to climb, their effects on the company's products and their
demand have been relatively small. Despite the general economic situation,
Restamax has been able to maintain excellent profitability, clearly above the
average profitability of the field.

Our operating environment is also strongly affected by the ongoing debate in
Parliament on alcohol legislation. The restaurant sector is a significant
employer in Finland. The decision made by the government not to raise value
added tax is a sign of recognition of the significance of the sector, and
gives new hope for the recovery of the restaurant business.

Markku Virtanen
CEO

The full Restamax interim report for January-March 2014 is appended to this
release in PDF format. The interim report is also available on the company's
website atwww.restamax.fi.
RESTAMAX PLC
Board of Directors
Markku Virtanen, CEO

Appendix: Restamax's interim report January-March 2014-05-09

Additional information:

CEO Markku Virtanen, tel: +358 400 836 477
CFO Jarno Suominen, tel: +358 40 721 5655

Distribution:

NASDAQ OMX Helsinki

Key media
www.restamax.fi

Restamax Plc

is a Finnish restaurant business group established in 1996. The company has
continued to grow steadily throughout its history. The group companies
include approximately 80 restaurants, cafés, pubs and nightclubs all over
Finland. Well-known restaurant concepts of the Group include Ristorante Bella
Roma, Gringos Locos, Viihdemaailma Ilona, Daddy's Diner and Stefan's
Steakhouse. Wayne's Coffee is also a part of the company's portfolio.
Restamax Plc employs approximately 900 people, the Group's pro forma turnover
in 2013 was MEUR 87.0 and EBITDA MEUR 13.3.

Restamax company website: www.restamax.fi, Restamax consumer website:
www.ravintola.fi

Restamax's interim report January-March 2014-05-09
http://hugin.info/158654/R/1783922/611231.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Restamax Oyj via Globenewswire

HUG#1783922

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