FINANCE

Message from the Chief Executive Officer

Despite a particularly difficult economic environment, Thomas Fleurs successfully advanced on its development plan in 2009 by realising the following steps:

• Confirmation of the success of Wallflower living plant art, with sales advancing from florists, wholesales and garden centres (Botanic, Truffaut, …), selling over 100 000 units as well as first advances on an international level.

• The successful integration and take-over in 2008 of the Gouverneur buying central and first commercial developments in flower export towards external clients outside of the Thomas Fleurs group.

• The success of the trolley rental activity launched in February at the FloraHolland auction, or more than 2 400 trolleys rented to exporters and transporters as well as first sales to a large Dutch transport company.
En axant son développement commercial sur un modèle de distribution innovant : le "cash & carry" et sur une stratégie d'approvisionnement gagnante, le groupe Thomas Fleurs a su en effet s'imposer sur le marché des grossistes en fleurs coupées comme acteur économique incontournable.

By focusing its development on the innovative « Cash & Carry » model and on a profitable supplier strategy, the Thomas Fleurs group has been catapulted into a leading market position in the French flower sector.

Thomas Fleurs anticipates an overall progression of around 10% this year. To date, the group consists of 7 sales platforms in France and Spain.

In May 2010, WallFlower clenched the prestigious « Glazen Tulp » (Glas Tulip) prize in Holland, which heralds innovative concepts. WallFlower is the first French product to receive this esteemed distinction in the Netherlands.

The activities of Gouverneur remain dynamic with diverse new commercial contacts outside of the group. The trolley rental business remains stable and in June 2010, Thomas Fleurs realised a capital increase of 725 000 €, in accordance with TEPA law.

For the years ahead, the Thomas Fleurs Group has been able to set ambitious goals thanks to the talents of our associates, the confidence of our investors and the loyalty of our clients and partners, with whom we have formed solid and durable relationships. Together, let us strive towards our future successes.

Thom Van Pul Président, Director

Consolidated accounts (01 january - 31 december)

in M€	2010	2009	2008
Turnover	29,31	25,92	25,02
Value added	5.02	3,83	2,43
EBITDA	1,51	0,61	(0,28)
Operating income	0,63	(0,16)	(0,74)
Current result	0,40	(0,14)	(0,96)
Net income before good will acquisition	0,44	(0,15)	(0,49)
Net income group	0,29	(0,26)	(0,45)

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CONTACT FINANCE
Investor relations: Claudia Klein Overmeen - LD : +33(0)4 90 83 22 49 claudia@thomasfleurs.fr