F.G. Europe S.A. reported consolidated and parent earnings results for fiscal 2014. On parent basis, the sales of air conditioning moved downward in almost all sectors where the company operates in, while the total reduction amounts to 26.0% and the total income is limited to EUR 61.52 million against EUR 83.17 million in 2013. The reduction in total sales by 23.2%, reached to EUR 67.35 million in 2014 from EUR 87.74 million.

On consolidated basis, total sales were reduced, in correspondence with the sales of the parent company, by 26.6%, amounting to EUR 72.72 million from EUR 99.10 million in 2013, clearly influenced by the decline in revenues from the energy sector (EUR 7.0 million from EUR 11.39 million in 2013). Despite the decrease in the operating expenses by 3.4%, the increase in the parent company's financial expenses contributed to the formation of negative results before and after tax to EUR 8.2 million and EUR 4.8 million, respectively. The group's financial figures were affected further by the decline in the revenues from the energy sector, due to: the credit note (EUR 1.14 million ­ 10% on the revenues in 2013) issued by LAGIE S.A., according to the provisions of Law 4254/2014; the reduction, from April 1, 2014, of invoice price of produced energy to LAGIE S.A. by 3.28% and unusually low wind capacity during 2014 that resulted in reduction in revenues by 26.0%. The reduction in the sales of the fiscal year 2014 to 23.0%, compared to 2013 resulted in losses of EUR 2.15 million against profit of EUR 2.93 million in 2013.