Isagro sales up 28% in Q1 2014

Isagro’s sales recorded a 28.2% increase to €41.4 million in the first quarter ended Mar 31, 2014,due to the early start to the season in Europe.

The growth of sales in this quarter, benefitting of the start of the collaboration with the partner Gowan, was accompanied by an increase of the marginality of sales at a Group level, in particular with reference to Copper products, the sales mix of which shifted in favor of higher added-value formulations.

First-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) sharply increased by 417.1% to some € 5.2 million, while EBIT recorded around€3.1 million (versus the loss of €1.5 million of same period last year). Profit before taxes registered some €2.1 million (versus the loss of 3.0 Euro million of same period last year ), while the net result was a positive €1 million (versus the loss of €3.3 million of same period last year).

Outlook

In the light of the results obtained in the first quarter 2014, Isagro expects revenues of around €150 million and EBITDA of around €15 million.