The Management of Profile SA, “PROFILE SOCIETE ANONYME COMMERCIAL AND INDUSTRIAL INFORMATICS COMPANY”, (hereinafter referred to as the “Company”), in the context of the correct, valid and timely information of all investors and stakeholders, announced today that on 14 June 2022, it proceeded to the sale and transfer of the Business Unit Ticketing Management and Customs Administration for customs officers to “CRS LIKNOSS MONOPROSOPI SOCIETE ANONYME RESEARCH, DEVELOPMENT AND TRADE OF SOFTWARE PRODUCTS RELATED TO E-MANAGEMENT AND DISTRIBUTION OF TOURISM MATERIAL” for a total price of € 2,250,000, sale executed in cash one-off payment.

The transferred Business Unit concerns the UTS TicketLink the Ferry Ticketing Reservation System and the Customs Management Software, whose turnover in 2021 amounted to € 851 thousands. For the H1 of 2022 the turnover was expected to reach € 357 thousands compared to € 380 thousands of the respective period last year, representing about 3% of the estimated turnover of the Profile Group for the H1 2022.

In line to the Business Transfer Agreement (BTA) and Applicable Law, the above transfer includes the transfer of the customer contracts, software, employees and equipment that follows this activity.

Furthermore, the price was considered highly competitive judging by the last years’ economic results of this specific business activity.

The decision for this sale was taken following the implementation of the Company’s business plan to disinvest from non-core business and less rewarding activities, which are expected to require significant funds in R&D, and which are to be directed towards the Core Business Of the company.

The Company’s business plan being implemented focuses mainly on the concentration of its activities in the development of solutions for the financial services sector, the main axis of its activities, on one hand, whilst on the other hand, concentrates on covering major projects on the Recovery & Resilience Fund and in general in the Public Sector of the country, in which the Company expects to have a significant presence in the coming years.