KRI-KRI Milk Industry has released its financial statements for the first quarter 2015.

On a corporate level, turnover of products amounted € 11,983 th. against € 11,267 th. of 2014 (increased by +6.4%). It should be mentioned that the turnover figure of the comparative period (1.1-31.3.2014) as presented on the statement of comprehensive income also includes a non-recurring figure of €5,800 th. relating to sales of raw materials to outsourcing partners.

On a corporate level, profitability measures were as follows:

- Ebitda amounted € 1.337 th. against € 758 th. of 2014,

- Profit before tax amounted € 571 th. against € 371 th. of 2014,

- Net profit after tax amounted € 513 th. against € 411 th. of 2014.

The consolidated net profit after tax attributable to parent's shareholders amounted € 513 th. against € 392 th. of 2014.

In the yogurt sector, KRIKRI achieved a 15% increase in sales and high rise on operating profitability. Key factors for this development are the regaining of our market share in the domestic market, and the new exporting agreements to western European countries. The most significant new exporting agreements are with TESCO and MARKS & SPENCER inUK, and also with super market chains inItalyandBelgium. In addition, with our recently launched advertising campaign of yogurt KRI-KRI, we communicate our competitive advantage of producing yogurt only using fresh raw milk (within 24 hours from milking the cows) coming from local farms, and we are looking forward to even higher figures.

In the ice cream sector, where the first quarter is not representative of annual results due to high seasonality, sales reduced by 20% reaching € 2,139 th. from € 2,714 th. in 2014, mainly because of the adverse weather conditions that did not allow the timely season opening. However, by the end of April ice-cream figures turned around presenting positive relative change.