VMP PLC'S FINANCIAL STATEMENTS RELEASE JANUARY 1 DECEMBER 31, 2018: GROWTH STRATEGY IMPLEMENTATION PROCEEDED AS PLANNED Helsinki Stock Exchange:VMP

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VMP PLC COMPANY RELEASE, PUBLISHABLE FEBRUARY 28, 2019 AT 8.00 A.M. EET

VMP PLC'S FINANCIAL STATEMENTS RELEASE JANUARY 1 –DECEMBER 31, 2018: GROWTH STRATEGY IMPLEMENTATION PROCEEDED AS PLANNED

October–December 2018 in brief

• The Group's revenue was EUR 33.3 million (EUR 31.5 million in October–December 2017). Revenue increased by 5.9%.
• The Group's adjusted1 EBITDA was EUR 2.4 million (2.7). Adjusted EBITDA decreased by 8.6%. Comparative figures do not include expenses of the parent companies2 of the Group, which amount to EUR 0.1 million. Considering this, EBITDA for comparative period is EUR 2.5 million.
• The Group's earnings per share (EPS) was EUR 0.032. The result was impacted by amortizations of goodwill amounting to EUR 1.8 million.
• VMP strengthened its market position and knowhow by acquiring Henkilöstötalo Voima and the HR services company Enjoy.

January–December 2018 in brief

• The Group's revenue was EUR 124.9 million (EUR 109.5 million in January–December 2017). Revenue increased by 14.0%.
• The Group's adjusted3 EBITDA was EUR 10.2 million (9.3). Adjusted EBITDA increased by 10.2%. Comparative figures do not include expenses of the parent companies2 of the Group, which amount to EUR 0.1 million. Considering this, EBITDA for 2017 is EUR 9.2 million.
• The Group's earnings per share (EPS) was EUR -0.202. The result was impacted by amortizations of goodwill amounting to EUR 6.9 million and listing expenses of EUR 3.0 million.
• The Board's proposal to the Annual General Meeting is that dividends be paid EUR 0,08 per share, corresponding to a total of EUR 1.2 million.

Outlook for 2019

VMP expects adjusted EBITDA to grow significantly during the financial period ending December 31, 2019 compared to the financial period ended December 31, 2018.

Key figures

Juha Pesola, CEO

'In the last quarter of 2018, our business operations proceeded according to plans. Revenue continued to grow and reached EUR 33.3 (31.5) million. Profitability continued at a good level, and our adjusted EBITDA was EUR 2.4 (2.7) million.

In addition to organic growth, we pursue a significant role in industry consolidation. In the fourth quarter we executed two significant corporate acquisitions. In November, we acquired Henkilöstötalo Voima, and in December we acquired Enjoy group, which is focused on the HoReCa industry. After the review period, we acquired Henkilöstöratkaisu Extraajat Oy, which is focused on the retail industry. With these acquisitions, we further strengthened VMP's position in the HR services industry, bringing a lot of new talent, customers and business into VMP. The total revenue of the companies we acquired was approximately EUR 50 million in 2018, and by improving the efficiency of our operations we can achieve significant synergy benefits.

The executed acquisitios strengthen our business in the service industry, which further balances the distribution between industries of the Groups clientele, and creates even growth over fluctuations in economic cycle. By acquiring Enjoy, we expanded our operations to Lapland, where growth in tourism is expected to continue also in the coming years. I am pleased to see that VMP is seen as a good and strong partner, and as one that has the capability to develop its business and the entire industry.

The Ministry of Economic Affairs and Employment's (TEM) growth services reform is a service reform aims to promote employment and the availability of skilled labor while responding to changes in the labor market. Due to the elections drawing closer, the reform has entered the political debate stronger than before. I believe that the ongoing and new pilot projects related to the growth service reform, where VMP Urapalvelu career service is actively involved, will continue. The pressure to renew employment services has not disappeared, and the private sector is strongly involved in this development.

2018 was a time of significant changes for VMP. The company listed, and its business grew both organically and through acquisitions. I believe that the transformation of the labor market will present many new business opportunities in the future, and as a company we are well positioned to help businesses and employees succeed amidst these changes. '

Result publication event

A press conference for analysts and media will be held on Thursday, February 28, 2019 at 11.00 a.m. Finnish time as an audiocast at https://vmp.videosync.fi/2018-q4/register. The conference will be held in Finnish. The conference will be hosted by Juha Pesola, CEO, and Pauliina Soinio, Interim CFO. During the presentation, there will be an opportunity to ask questions.

The presentation material will be available at company website at http://www.vmpgroup.fi/en/investors/reports-and-presentations/ before the conference.

A recording of the audiocast will be available at the same website later on the same day.

More information:

Juha Pesola, CEO
tel. +358 (0)40 307 5105

Pauliina Soinio, Interim CFO
tel. +358 (0)40 307 5007

Certified Adviser: Danske Bank A/S, Finland branch, tel. +358 10 546 7934

Attachments to this release:

VMP Plc Financial Statement Release 2018

VMP Plc Financial Statement Release presentation material 2018

VMP is a Finnish HR services company with a comprehensive offering of staffing, recruiting and organizational development, and self-employment services. VMP's vision is to help both employers and employees succeed in the changing world of work. We serve customers in Finland and Sweden, and we have a recruitment hub for staffed employees in Romania. VMP Group consists of VMP Varamiespalvelu, Voima, Enjoy,Extraajat, Personnel and Eezy brands.

1 In October–December 2018, EUR -0.1 million in personnel expenses relating to bonus payments related to the acquisition has been entered as items affecting comparability

VMP Plc ('VMP') was founded on September 8, 2017. The company acquired Varamiespalvelu-Group on October 31, 2017 through a share transaction. Due to this, the consolidated financial statement of VMP Plc for 2017 only includes operative business activity from a two-month time period. The share transaction had no impact on business operations, but it resulted in VMP Plc having considerable consolidated goodwill and a changed financing structure. The financing structure has also changed due to the financing arrangement carried out in spring 2018 as well as the public listing carried out in June 2018.

The financial statements and interim reports of VMP Plc and Varamiespalvelu-Group are made pursuant to Finnish Accounting Standards (FAS).

3 In January–December 2018, EUR 0.5 million in personnel expenses relating to severance payments and bonus payments related to the acquisition has been entered as items affectingomparability.

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