KOGENERACJA S.A. announced consolidated and company earnings results for first quarter ended March 31, 2014. For the quarter, on consolidated basis, revenue from sales was PLN 270,527,000 against PLN 313,786,000 a year ago. Operating profit was PLN 50,692,000 against PLN 77,913,000 a year ago. Profit before tax was PLN 48,788,000 against PLN 74,546,000 a year ago. Net profit for continuing operations was PLN 39,747,000 against PLN 59,536,000 a year ago. Net profit for the period attributable to ordinary shareholders was PLN 38,674,000 or PLN 2.60 per basic and diluted share against PLN 58,745,000 or PLN 3.94 per basic and diluted share a year ago a year ago. Net cash flow from operating activities was PLN 106,148,000 against PLN 218,779,000 a year ago. Purchases of intangible assets and property, plant and equipment was PLN 4,590,000 against PLN 42,030,000 a year ago.

For the quarter, on company basis revenue from sales was PLN 189,013,000 against PLN 220,773,000 a year ago. Operating profit was PLN 41,413,000 against PLN 57,291,000 a year ago. Profit before tax was PLN 38,043,000 against PLN 55,074,000 a year ago. Net profit was PLN 31,052,000 against PLN 44,065,000 a year ago. Operating profit (EBIT) was PLN 41,413,000 compared to PLN 57,291,000 a year ago. Net cash flow from operating activities was PLN 107,361,000 against PLN 191,119,000 a year ago.