Toupargel-Agrigel announced audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported sales of €294.4 million against €327.1 million a year ago. Operating profit was €8.3 million against €8.3 million a year ago.

Net profit (group share) was €5.1 million or €0.50 per share against €4.0 million or €0.39 per share a year ago. Cash flow from operations was €18.7 million or €1.86 per share against €14.1 million or €15.4 per share a year ago. Net debt amounted to €9.4 million as of 31 December 2013 compared with €11.7 million as of 31 December 2012.

Capital expenditure was 6.0 million against 11.3 million a year ago. Net assets per share were €8.7 against €8.2 a year ago. Revenue decreased due to i) an unfavourable calendar effect, with four fewer business days in 2013 (revenue down €5 million vs.

2012), ii) a more targeted approach to new customers, with a deliberate reduction in their number (revenue down €7.4 million vs. 2012), iii) a reduction in sales prices (revenue down €4 million) and erosion among regular customers that subsided at the end of the year.