Zucchi announced consolidated earnings results for the first half ended June 2014. For the period, the company reported net loss of EUR 11.8 million, down from a EUR 15.1 million loss in the same period of 2013. Revenues dropped to EUR 62.6 million from EUR 71.4 million as the market crisis is still affecting the linen product sales. Gross operating loss was EUR 7.3 million, up from a loss of EUR 5.7 million in the first half of 2013. Operating loss dropped to EUR 10.5 million from EUR 13.5 million, due to lower restructuring charges. Net debt rose to EUR 93.6 million at the end of June 2014 from EUR 91 million as at December 31, 2013.

For full-2014, the company does not expect the domestic market consumption to recover as early as in the second half of the year. In view of the cost-cutting measures and of some opportunities to sell and enhance the value of some assets, the company believes it is reasonable to expect that the second-half performance will be better than the one in the first half.