The decline continues for FMCG products

1. Market View
Year 2015, January – March 2016
IRI Greece, Insights
May 2016

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 Value Sales Trend: Super/Hyper Markets FMCG Metrics
 Super/Hyper Markets (including Key Retailers, smaller
Retailers and Sklavenitis real data)
 Channels
 Greece Mainland
 Crete
 Areas
 YR 2015 vs YR 2014
 January-March 2016 vs January-March 2015
 Periods
Table of contents

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 Stores with large selling
spaces (over 2500 sqm)
and even broader range
of products
Hypermarket
 Self-service retail stores
with a central check-out
area and at least 2 cash
registers, offering a
large variety of
groceries as well as
consumer durables and
goods
Supermarket
 Self-service retail stores
carrying mainly
groceries in limited
range with emphasis on
own label products and
low prices
Discounters
Channels definitions

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Greece economy
RETAIL TURNOVER INDEX
(w.o AUTOMOTIVE FUEL)
INFLATION RATE TREND
UNEMPLOYMENT
- 4 .9 %
- 7 .1 %
- 5 .3 %
- 1 .8 %
- 0 .2 %
- 6 .4 %
2010 2011 2012 2013 2014 2015
GDP
4.7%
3.3%
-0.9%
-1.3%
-1.7%
1.5%
2010 2011 2012 2013 2014 2015
1 4 .8 %
2 1 .0 %
2 7 .5 % 2 6 .5 %
2 5 .0 %
2 6 .9 %
2010 2011 2012 2013 2014 2015
-1.2%
-7.2%
-8.6%
-1.0% -1.0%
-11.3%
2010 2011 2012 2013 2014
Jan/Oct
'15 vs.
Jan/Oct
'14
Source: ELSTAT Feb 2016 (latest available period/provisional data)

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HM/SM VALUE SALES TREND
YR 2013
YR 2014
YR 2015
YR 2013 YR 2014 YR 2015
-1.4% -2.1%
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data)
In 2015 the negative sales trend is deccelarating compared to the
previous years

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HM/SM VALUE SALES TREND
YTD 2014 YTD 2015
YTD 2016
YTD 2014 YTD 2015 YTD 2016
+0.5% -7.8%
Overall sales in YTD are declining
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data), YTD: Jan-Mar 2016

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TRENDS PER SHOP TYPE - YTD
The decline is far sharper in Hyper markets and small Super markets
0-400 sqm
2500+ sqm
400-1000 sqm
1000-2500 sqm
• % Value Contribution: 13,2%
• Value sales trend: -19,3%
• % Value Contribution: 9,2%
• Value sales trend: -24,8%
• % Value Contribution: 44,5%
• Value sales trend: -3,8%
• % Value Contribution: 33,1%
• Value sales trend: -1,4%
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data), YTD: Jan-Mar 2016

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HM/SM SALES AND PRICE TREND
Prices seem to be slightly increasing in YTD
-1,4
-2,1
-7,8
0,6
-2,1
-8,6
-2,0
0,2
0,8
2014 2015 YTD 2016
Value Volume Price per Volume
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data), YTD: Jan-Mar 2016

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HM/SM VALUE SALES TREND BY MONTH
-0,4%
-3,7%
-0,6%
-7,7%
-1,4%
-2,9%
-6,9%
-6,6%
-4,1%
-2,4%
-3,1%
-2,6%
-4,2%
3,0%
-2,7%
-4,8%
4,1%
1,5%1,5%
-3,3%
-3,1% -3,4%
-2,7%
-2,5%
2,3%
-4,4%
3,1%
-6,3%
-0,1%
5,5%
-8,3%
-0,5%
-2,6%
-3,9%
-3,6%
-7,5%
-6,0%
-8,3%
-8,8%
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data)
Sharp decline of previous months continues also in March

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HM/SM UNIT SALES TREND BY MONTH
1,9%
0,8%
3,2%
-2,5%
-0,6%0,0%
-5,6%-6,0%
-2,3%
-2,7%
-1,8%-1,6%
-3,1%
-2,5%
-3,2%
0,3%
-2,6%
1,5%
3,2%
-7,2% -5,5% -5,4%
-6,4%
-8,5%
2,0%
-5,0%
1,4%
-7,6%
-0,8%
4,8%
-9,3%
-3,8%
-6,7%
-9,5%
-7,8%
-11,6%
-11,2%
-11,7%
-13,5%
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data)
Unit sales follow the same pattern

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HM/SM VALUE SALES TREND 2015
-2,0%
-2,4%
-2,1%
FOOD
HBA
HOUSEHOLD
YTD
-8,4%
-5,6%
-5,4%
FOOD
HBA
HOUSEHOLD
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data), YTD: Jan-Mar 2016
All segments mark negative trends in YTD in value sales...

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HM/SM UNIT SALES TREND 2015
-4,4%
-3,9%
-2,4%
FOOD
HBA
HOUSEHOLD
YTD
-13,0%
-6,4%
-9,8%
FOOD
HBA
HOUSEHOLD
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data), YTD: Jan-Mar 2016
...as well as in unit sales

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Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data)
Frozen and packaged foods were the only categories with a positive
growth in value
HM/SM VALUE SALES TREND 2015
-1,2%
-3,7%
-2,4%
-2,4%
1,7%
-0,3%
-4,5%
1,1%
-4,0%
-2,0%
-5,5%
HOUSEHOLD CLEANERS & DETERGENTS
OTHER HOUSEHOLD PRODUCTS
PERSONAL CARE & BEAUTY
PERSONAL HYGIENE
PACKAGED FOOD
SNACKS
DAIRY
FROZEN FOOD
COOKING AIDS, INGREDIENTS & CONDIMENTS
NON ALCOHOLIC BEVERAGES
ALCOHOL DRINKS

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Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis data)
Packaged foods was the only category with a positive growth in unit
HM/SM UNIT SALES TREND 2015
-2,6%
-2,2%
-3,0%
-4,8%
0,3%
-5,5%
-5,3%
-2,4%
-7,8%
-4,3%
-7,9%
HOUSEHOLD CLEANERS & DETERGENTS
OTHER HOUSEHOLD PRODUCTS
PERSONAL CARE & BEAUTY
PERSONAL HYGIENE
PACKAGED FOOD
SNACKS
DAIRY
FROZEN FOOD
COOKING AIDS, INGREDIENTS & CONDIMENTS
NON ALCOHOLIC BEVERAGES
ALCOHOL DRINKS

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HM/SM VALUE SALES TREND YTD
-4,2%
-7,8%
-3,8%
-7,3%
-7,7%
-6,6%
-8,9%
-14,5%
-6,8%
-6,6%
-13,8%
HOUSEHOLD CLEANERS & DETERGENTS
OTHER HOUSEHOLD PRODUCTS
PERSONAL CARE & BEAUTY
PERSONAL HYGIENE
PACKAGED FOOD
SNACKS
DAIRY
FROZEN FOOD
COOKING AIDS, INGREDIENTS & CONDIMENTS
NON ALCOHOLIC BEVERAGES
ALCOHOL DRINKS
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis), YTD: Jan-Mar 2016
All categories decrease in value during the first 3 months of 2016

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HM/SM UNIT SALES TREND YTD
-6,5%
-13,0%
-3,0%
-9,7%
-12,7%
-14,2%
-10,9%
-21,8%
-15,5%
-8,9%
-19,2%
HOUSEHOLD CLEANERS & DETERGENTS
OTHER HOUSEHOLD PRODUCTS
PERSONAL CARE & BEAUTY
PERSONAL HYGIENE
PACKAGED FOOD
SNACKS
DAIRY
FROZEN FOOD
COOKING AIDS, INGREDIENTS & CONDIMENTS
NON ALCOHOLIC BEVERAGES
ALCOHOL DRINKS
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis), YTD: Jan-Mar 2016
The same applies for unit sales

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Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis), YTD: Jan-Mar 2016
Winning and losing categories in YTD
CATEGORIES WITH THE BIGGEST
GROWTH IN VALUE
CATEGORIES WITH THE BIGGEST
DECLINE IN VALUE
• Food supplements • Cooking fats
• Insecticides • Iron aids and water
• Baby food (jars, juices, biscuits) • Olives
• Frozen pizza • Choco eggs
• Antibacterial wipes • Seasonal chocolates

18. 18
Leading barcodes
IRI InfoScan

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No 3
• Φρέσκο γάλα ΔΕΛΤΑ 1lt
3.5% λιπαρά
No 2
• Νερό Ζαγόρι 500ml
No 1 in unit
• Καραμολέγκος σταρένιο
φόρμα 680γρ
Leading barcodes for March ‘16 in terms of value and unit sales
No 3
• Νescafe classic 100γρ
No 2
• Λουμίδης Παπαγάλος
παραδοσιακός 200γρ
No 1 in value
• Καραμολέγκος σταρένιο
φόρμα 680γρ
Top 3 barcodes contribute 0.89% of total FMCG value sales
Top 3 barcodes contribute 1.16% of total FMCG sales in units
Source: IRI InfoScan, HM/SM (including Key Retailers, smaller Retailers and Sklavenitis)

20. 20
Top manufacturers’ performance
IRI InfoScan

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VALUE SALES TREND 2015 AND YTD
-7,8%
-2,8%
-7,1%
-13,0%
-4,7%
-7,5%-6,6%
-14,2%
-4,6%
5,0%
13,0%
-3,0%
-6,1%
-4,0%
-0,5%
-10,1%
-6,9%
1,8%
-11,2%-11,4%
-1,2%
-19,3%
-5,9%
-8,9%
6,7%
9,8%
TOTALMARKET
UNILEVER
P&G
DELTA-B.STATHIS
NESTLE-PURINA
CCHBC-TCCC
FRIESLAND
OLYMPOS
MONDELEZ
PAPADOPOULOU
MEGA
COLGATE-PALMOLIVE
FAGE
ELBISCO
SARANTIS
HENKEL
ATHENEAN
RECKIT
MINERVA
BOLTON
ION
SCA
TASTY
PEPSICO
GIOTIS
KARAMOLEGOS
YTD
-2,1% -2,4% -6,8% -3,6% -2,2% -2,0% -5,4% -0,5% -1,0% 4,3% 20,5% 1,1% -10,0% 4,8% -5,8% 1,8% 1,4% -3,8% -2,4% 7,3% 1,9% -17,1% -0,6% -12,0% 5,6% 6,4%
Key manufacturers
Figures in blue indicate the trend for 2015
Source: IRI InfoScan, Ranked based on value sales 2015, YTD: Jan-Mar 2016

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(+30) 210 27 87 636
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(+30) 210 27 87 653
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