KARATZIS S.A. reported consolidated earnings results for the first half of 2014. Consolidated turnover, increased in the first half of 2014 by 5% standing at €37.2 million compared to €35.4 million in the first half of 2013. This increase is attributed to the increase of the turnover of the industrial sector (8.9%) as a result of the increase of the sales of the parent company as well as of hotel sector (6.2%). The increase of the hotel sector was affected by the overall strengthening of the tourism market and the capitalization of the provision of high quality services over time and the strong brand-name that has been established gradually during the recent years, in conjunction with the recent renovation of Nana Beach Hotel. Consolidated profits before taxes, financial & investing results and depreciation (EBITDA) stood at €8.6 million compared to €7.8 million in the first half of 2013 increased by 10.7% due to the results of the industrial sector. Consolidated profits before taxes stood at €4.8 million while consolidated profits after tax and minority rights stood at €3.5 million. Net earnings are reduced compared to the previous year due to the presence of non-recurring income from recovered grant of the amount of €2.6 million during the first half of 2013.

The positive results of the first semester in conjunction with the strategic movements made by company's management imply that for the full year 2014, the group's figures will move upwards. The sales of the industrial sector are projected to maintain their upward trend, while for the sales of the hotel activity are also expected to be increased.