Nireus Aquaculture SA reported group earnings for the third quarter and nine months ended September 30, 2015. For the period, the company's group sales from continuing operations posted an increase of 3.9% to €139.2 million, boosted by higher fish sales and growth of exports. Total sales amounted to €140.2 million relative to €148.9 million in the corresponding prior period and total exports to €113.8 million. Free cash flow increased to €8.6 million, while cash flow from operations was stable at €10.7 million as compared to the corresponding period of 2014. Net investments in subsidiaries, property, plant and equipment amounted to €2 million versus €3.3 million in nine months of 2014. The Group's results before taxes were losses of €4.9 million as compared to losses of €20.2 million in nine months 2014. The results were impacted by a €3 million non-recurring loss from the sale of investments.

The Group's results before taxes were significantly improved during the third quarter of 2015 and amounted to profit of €11.2 million versus €4.2 million in the corresponding period of 2014. The improvement was a result of the actions for the cost containment, the increased average sales price, but also the biological growth cycle of fish, according to which biomass remains stable from January to June and increases in the second semester of the year with a corresponding positive effect on
results.