Financial Communication 2015

Despite difcult economic conditions marked by the compaction of the construction market, COLORADO activity underwent a slight decline compared to the previous year with a turnover of 536 million dirhams. This resilience reects the diversication policy initiated by the company for several years and the opening to the export market.

Thanks to the efforts made in cost control, the net income rose to 52.5 million dirhams, which represents an increase of 11% compared to 2014.

Highlights of the 2nd Half of 2015:

• Evolution of the turnover in the second half of 2015 by 4%, bringing the annual decline in turnover to 3% instead of 9 % recorded in the first half of 2015.

• Great evolution in the net income in the second half of 2015. The annual increase in net income is 11%.

• Signicant increase of the export turnover and opening of several showrooms abroad, especially in Africa.

• Launch of the « industrial painting » business/activity.

• Design and launch of several new products.

• Complete renovation of the Casablanca-Zerktouni showroom.

• Capital increase from 90 million dirhams to 120 million dirhams by incorporation of reserves.

Dividends per share :

The Board of Directors will submit to the vote at the next General Meeting of Shareholders the distribution of a regular dividend of 3 dirhams per share and an exceptional dividend of 1.25 DH per share, that is a total of 4.25 dirhams per share. The total dividend served would then be of 51 MDH, or a Pay Out Ratio of 98%.

Outlook :

Given the very encouraging achievements of 2015, the COLORADO management remains condent over the

2016 outlook.

COLOARDO will maintain its policy of diversication, innovation and sustained communications.