KRI-KRI Milk Industry has released its financial statements for the first quarter 2014.

On a corporate level, turnover of products amounted € 11,267 th. against € 11,383 th. of 2013 (a marginal drop of 1%). It should be mentioned that the turnover figure as presented on the statement of comprehensive income also includes a 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 € 758 th. against € 929 th. of 2013,

-  Profit before tax amounted € 371 th. against € 404 th. of 2013,

-   Net profit after tax amounted € 411 th. against € 238 th. of 2013.

The consolidated net profit after tax attributable to parent's shareholders amounted € 392 th. against € 234 th. of 2013.

In the yogurt sector, after the fire of 24/12/2013 that destroyed company's yogurt production plant in Serres, in order to cover its temporary production needs, the company entered into agreements for outsourcing its full production to other third party Greek production units. In that way, it is not expected to experience any significant stock-outs or unfulfilled orders of customers in Greece or abroad. Yogurt sales, in the first quarter 2014, presented a small drop of 4%, mainly due to the disturbance of the yogurt supply chain in the first weeks after the fire. In the ice cream sector, where the first quarter is not representative of annual results due to high seasonality, sales increased by 10% reaching € 2,714 th. from € 2,470 th. in 2013.