Korres S.A. Natural Products reported consolidated earnings results for the full year ended of 2012. For the period, the company increased in gross profit margin and adjusted EBITDA profit, despite the growing economic difficulties in Greece. At turnover level, the group's consolidated sales, affected by lower production volume for North America and by restructuring actions in priority markets undertaken to ensure growth, reached EUR 40 million against EUR 42.7 million in 2011.

Adjusted earnings before interest, taxes, depreciation and amortization, i.e. excluding the extraordinary restructuring cost impact - including one off receivables rationalization effect materialized by the group given the foreseen adverse financial environment - increased by 3.3% to EUR 7.8 million from EUR 7.6 million in 2011, as a result of the enhanced gross profit margin and reduced operating expenses. Earnings before interest, taxes, depreciation and amortization, after deducting the above restructuring cost reached EUR 4 million. It has to be highlighted that in 2011 there was an extraordinary income from Johnson &Johnson upon the completion of the transition period.

If this particular 2011 amount (EUR 2.3 million) was excluded, the increase in the adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) would be 47.8%. Net after tax and minority results amounted to EUR 4.2 million from EUR 3.4 million in 2011. Excluding the restructuring cost mentioned above, net profit after tax and minority rights, would be EUR 0.3 million.