Korres group Products reported earnings results for the first quarter of 2014. For the quarter, the company reported consolidated sales increased by 5% in first quarter 2014 at EUR 12.5 million from EUR 113.9 million in first quarter 2013 incorporating the positive trend of all key markets. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), excluding the extraordinary restructuring cost impact, reached EUR 3.1 million in first quarter 2014 from EUR 3.0 million in first quarter 2013.

Earnings before interest, taxes, depreciation and amortization (EBITDA), grew by 4% at EUR 2.3 million from EUR 2.2 million. The Group operating cash flow doubled at EUR 3.3 million from EUR 1.6 million in first quarter 2013, as a result the strategic commercial agreement with AVON, the improved operational profitability and the overall effort towards working capital rationalization. Net after tax and minority results (profits) reached EUR 0.3 million in first quarter 2014 from losses EUR 0.1 million in first quarter 2013.