Creta Farms Reports Consolidated and Parent Earnings Results for the Year 2014
Creta Farms reported consolidated and parent earnings results for the year 2014. For the year, on consolidated basis, the company's sales rose by 9.8%, a strong increase versus last year, to EUR 104.8 million versus EUR 95.5 million a year ago. The increase was mainly driven from further penetration into the local market with market share reaching 25.2% for the full year. EBITDA was EUR 10.9 million versus EUR 5.8 million a year ago, an increase of 88,6%, representing a 10.4% profit margin compared to 6.1% last year, an improvement of 430 basis points. Operating profit was EUR 6.2 million versus EUR 774,000 a year ago. Earnings after taxes were EUR 1.3 million versus a loss of EUR 21.9 million a year ago.
For the year, on parent basis, the company sales reached EUR 104 million, an increase of 10.1% versus the corresponding period last year with gross profits reaching EUR 46.2 million. EBITDA was EUR 10.9 million, versus EUR 7.2 million, an increase of 52.1%. The earnings after tax reached EUR 1 million compared to loss after tax of EUR 15.6 million a year ago.