Sidma S.A. reported consolidated and company earnings results for the first half of 2016. For the period, on consolidated basis, the company recorded rising sales volumes and a significant improvement in its results at both operating and pre-tax levels, mainly due to the increased contribution of the parent company and the subsidiaries in Romania and Bulgaria. Turnover amounted to EUR 51.7 million compared to EUR 50.4 million in the corresponding period of 2015 or 2.4% higher, while together with consignment sales it amounted to EUR 65.4 million, decreased by 0.7% compared to the one last year but with the average selling price of its products reduced by 10%. Moreover, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 2,826,000 compared to EUR 1,023,000 last year, mainly due to the significant increase in gross profit by 63% or EUR 2.7 million approximately. Earnings before taxes improved by 57% compared to the same period last year or EUR 1.7 million, representing a loss of EUR 1.3 million. At company level, in the first semester of 2016, turnover was set to EUR 35.6 million from EUR 29.2 million, presenting an increase of 22% while together with dealership sales it was set to EUR 49.4 million from EUR 44.6 million in the corresponding period of 2015. However, it is worth mentioning that this year's results include the sales of the subsidiary PANELCO which was absorbed at the end of last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to profits of EUR 2.5 million from EUR 0.75 million in the corresponding period last year, while earnings before taxes amounted to losses of EUR 1.0 million, improved by 47% or EUR 0.9 million compared to those of the corresponding period last year including exceptional provisions of EUR 500,000 for the impairment of bad debts. Without these provisions earnings before taxes, depreciation and amortization (EBITDA) and losses before taxes would have improved by 267% and 72% respectively. The improvement recorded in both operating results and earnings before taxes, and mainly at company level, is due to an improvement in gross profit by 97% or EUR 2.7 million approximately.