The Picanol Group announced consolidated earnings results for the first half ended June 30, 2014. For the period, the company reported sales of EUR 219,926,000 against EUR 304,057,000 year ago. EBITDA was EUR 38,512,000 against EUR 62,355,000 year ago. EBIT was EUR 33,049,000 against EUR 60,144,000 year ago. Profit before taxes was EUR 34,062,000 against EUR 61,821,000 year ago. Profit was EUR 24,631,000 against EUR 42,426,000 year ago. Share of the group in profit EUR 30,113,000 against EUR 42,426,000 year ago. Basic and diluted earnings per share were EUR 1.7 against EUR 2.4 a year ago. Net cash flow from operating activities was EUR 24,366,000 against EUR 52,570,000 year ago. Acquisitions of intangible fixed assets were EUR 159,000 against EUR 36,000 year ago. Acquisitions of tangible fixed assets were EUR 6,614,000 against EUR 2,879,000 year ago.

Based on the current market situation, the company is expecting a turnover and profit decline for its activities in the second half of 2014 compared with the same period of the previous year, in line with the decline of the first half of the year.