Korres Group reported consolidated earnings results for 2013. Group consolidated sales in 2013, reached EUR 39.2 million from EUR 40.0 million in 2012 due to lower sales to Johnson & Johnson following the relevant agreement termination for North America in view of the direct group presence in this Market in 2014 through the establishment of the new subsidiary KORRES US Ltd. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) excluding the extraordinary restructuring cost impact, reached EUR 7.0 million in 2013 from EUR 7.9 million in the corresponding period of 2012, due to increased promo actions, the lower sales to Johnson & Johnson in consideration of the completion of the co operation and the transition to direct presence in North America in 2014 as well as the project costs towards international strategic co operations such as AVON which was completed in Feb. 2014.

Earnings before interest, taxes, depreciation and amortization (EBITDA) after deducting restructuring costs reached EUR 4.0 million in 2013. The group positive cash flow amounted to EUR 7.7 million from EUR 1.7 million in 2012, as a result of the management efforts towards rationalization of working capital. Net after tax and minority results reached EUR 4.5 million in 2013 to EUR 4.2 million in the corresponding period of 2012.