Papoutsanis SA reported earnings results for the year 2014. For the period, the company reported turnover was EUR 17.2 million against EUR 16.0 million in 2013 increased by 7,1%. Despite the continuing overall adverse economic environment, for the 4th consecutive year company increased its turnover and earnings before deferred taxes.

Exports were EUR 7.0 million and account for 41% of total company turnover versus 39% in 2013. Earnings before taxes were at EUR 134,000 against earnings of EUR 84,000 in 2013. Results after taxes were losses EUR 68,000 in 2014 versus losses of EUR 111,000 in 2013.

The relevant taxes of EUR 203,000 represent solely deferred taxes not payable in the following years and therefore not affecting the company's cash flow.