Celesio AG announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported revenue of EUR 5,642.8 million compared to EUR 5,504.1 million a year ago. EBITDA was EUR 138.3 million compared to EUR 133.1 million a year ago. Adjusted EBITDA was EUR 139.9 million compared to EUR 133.1 million a year ago. EBIT was EUR 105.1 million compared to EUR 103.4 million a year ago. Adjusted EBIT was EUR 106.7 million compared to EUR 103.4 million a year ago. Profit before tax was EUR 72.5 million compared to EUR 79 million a year ago. Adjusted profit before tax was EUR 83.9 million compared to EUR 78.7 million a year ago. Net profit from continuing operations was EUR 44 million compared to EUR 51.6 million a year ago. Adjusted net profit from continuing operations was EUR 53 million compared to EUR 50.6 million a year ago. Basic earnings per share from continuing operations were EUR 0.25 compared to EUR 0.30 a year ago. Adjusted basic earnings per share from continuing operatons were EUR 0.31 compared to EUR 0.29 a year ago. Net cash flow from operating activities from continuing operations was EUR 21.2 million compared to net cash flow used in operating activities from continuing operations of EUR 29.1 million a year ago. Negative free cash flow from continuing operations was EUR 19.9 million compared to EUR 68.5 million a year ago. Net loss attributable to shareholders of the company was EUR 5.4 million compared to EUR 53.3 million a year ago. Basic and diluted loss per share was EUR 0.03 compared to EUR 0.31 a year ago. Net cash flow from operating activities from continuing and discontinued operations was EUR 35.3 million compared to net cash flow used in operating activities from continuing and discontinued operations of EUR 22.5 million a year ago. Capital expenditure on non-current assets was EUR 35.3 million compared to EUR 25.2 million a year ago. For the 2012 fiscal year, the company anticipate an operating results (EBITDA) of at least EUR 575 million after adjusting for non-recurring expenses from the operational excellence program. The company is expecting adjusted EBIT to follow a similar trend.