Korres reported consolidated earnings results for the first half of 2013. For the period, the company's sales increased by 0.2%, at €21.8 million from €21.7 million, coming from the KORRES SA positive trend of sales in Greece as well as the positive performance of the key export markets. Adjusted earnings before interest, taxes, depreciation and amortization excluding the extraordinary restructuring cost impact-that is one off receivables rationalization effect materialized by the group given the foreseen adverse financial environment-(Adjusted EBITDA) reached €4.5 million from €5.1 million in first half of 2012, due to increased promo actions and the different product mix (phasing) between the two semesters.

Earnings before interest, taxes, depreciation and amortization (EBITDA), after deducting restructuring costs reached €3.0 million. The Group achieved positive operating cash flow of €1.9 million from cash used in operations was €0.7 million in first half of 2012, as a result of the operating cost improvement and the management efforts towards rationalization of working capital. Net loss after tax and minority results reached €0.9 million from earnings of €1.4 million in the corresponding period of 2012.

Excluding the restructuring cost mentioned above, net profit after tax and minority rights were positive, that is €0.7 million.