Korres S.A. Natural Products announced earnings results for the nine months of 2012. The company announced sales increase in Greece for the first nine months of 2012, despite the adverse financial environment; a strong net profit increase and EBIDTA improvement. More specifically, nine months consolidated sales for the Group reached €30.9 million compared to €31.8 million in the corresponding 2011 period; an outcome of the lower North America sales due to the fact that Johnson & Johnson has entered the local production stage of the transition period as well as the restructuring effect in certain priority markets like Germany and Spain, undertaken by the KORRES Group to ensure profitable growth going forward.

Profitability improvement is one of the nine months results' highlights with the gross margin reaching 63% against 59% for nine months of 2011, a 350 BPS increase, due to focused sales policy, product mix optimization and cost rationalization. Earnings before interest, taxes, depreciation, and amortization [EBITDA], reached €6.6 million, increased by 0.7% for the nine months of 2011. Net profit after tax and minority rights reached €1.4 million compared to €1 million for the nine months of 2011, increased by 38.9%.