SIDMA S.A. reported consolidated and standalone earnings results for the first quarter of 2015. Despite the overall economic uncertainty, the company maintained its turnover during the first quarter of 2015 at both company and group level. The operating results of both company and group signalled a positive development in comparison with the respective period of 2014 owing to the continuing decrease in operating expenses and the improvement of gross profit margins. Specifically, in the first quarter of the year the consolidated turnover of the company stood at EUR 23.9 million compared to EUR 24.2 million in the respective period of 2014 and, together with agency sales, amounted to EUR 31.0 million, like in the respective last-year period. At Group level, earnings before interest, taxes, depreciation and amortisation (EBITDA) were equal to profits of EUR 295,000 compared to losses of EUR 12,600 last year, mainly due to the drastic decrease in expenses by 15% or EUR 507,000 in relation to 2014. Pre-tax results were equal to losses of EUR 1.6 million, registering an improvement by 28% or EUR 626,000 in relation to the respective last-year period.

At company level, during the first quarter of the year, the turnover of the company amounted to EUR 14.2 million compared to EUR 14.5 million in the respective period of 2014 and, together with agency sales, stood at EUR 21.2 million compared to EUR 21.3 million in 2014. Earnings before interest, taxes, depreciation and amortisation amounted to profits of EUR 296,000 compared to losses of EUR 66,000 last year, mainly due to an increase in the gross profit margin by 8.8% or from 8.5% in the first quarter of 2014 to 9.3% in the first quarter of 2015, and to a decrease in expenses by 17% or EUR 380,000. Pre-tax results were equal to losses of EUR 1.1 million compared to EUR 1.7 million in the respective last-year period, namely a 35% improvement.

The company provided earnings guidance for the full year of 2015. The objective of the company is to maintain throughout the year the improvement registered in its operating results during the first quarter.