Nireus Aquaculture SA announced group earnings results for the first quarter of 2016. Group sales of the company amounted to EUR 43 million against EUR 41.4 million during the respective previous period, marking an increase of 3.9%. EBITDA improved by EUR 5.3 million from negative EUR 7.3 million in 2015. This increase is mainly attributed to the reduction in the production cost of fish, to the increase in the quantity of juvenile sales in addition to the increase in the sales price of fish. Total pre-tax results of the first quarter of 2016 amounted to losses of EUR 4.6 million as compared to losses of EUR 15 million in 2015. The result is mainly attributed to the reduced biomass of fresh fish due to their biological cycle and based on which a recovery in their biomass is noted during the second semester with an ultimate increase in volume during the end of the year. Net debt, after the effect of the valuation at fair value, of new loans, amounted to EUR 154.7 million.