FRIWO AG reported earnings results for the first half of 2014. For the period, the company suffered a drop in first-half operating profit due to negative currency effects and extra costs. EBIT fell to EUR 1.2 million from EUR 1.7 million. Adjusted for currency effects, EBIT came in at EUR 1.5 million. In addition to the appreciation of the euro against the U.S. dollar, the performance was burdened by additional expenses related to quality problems with a product. These effects could not be fully offset by the 10% reduction in sales and administrative expenses. First-half revenue grew 1.2% to EUR 58.3 million bolstered by growth in the E-mobility, charging equipment and LED units.

The company predicts a slight revenue increase and stable earnings in 2014. Last year, revenue totaled EUR 113.9 million and EBIT stood at EUR 3.1 million.