Afarak Group Oyj reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of EUR 40,713,000 against EUR 43,181,000 for the same period a year ago. Operating profit was EUR 2,924,000 against EUR 927,000 for the same period a year ago. Profit before tax was EUR 2,667,000 against EUR 1,331,000 for the same period a year ago. Profit from continuing operations was EUR 2,272,000 against EUR 323,000 for the same period a year ago. Profit attributable to owners of the parent was EUR 2,369,000 or EUR 0.01 per basic and diluted share against EUR 348,000 for the same period a year ago. Net cash from operating activities was negative EUR 2,696,000 against net cash from operating activities of EUR 2,987,000 for the same period a year ago. Capital expenditure and other investing activities was EUR 1,908,000 against EUR 2,259,000 for the same period a year ago. Return on equity was 4.9% against 0.7% for the same period a year ago. EBITDA was EUR 4.6 million against EUR 3.0 million for the same period a year ago. The group's revenue during the first quarter was affected by lower volumes, but did not have a major impact on its results as it attained better margins as a result of a stronger US dollar on conversion of revenue. The strengthening of US dollar did not have a major effect on its cost as they were mainly denominated in Euro and South African Rand, this led the gains on the revenue conversion to Euro to flow through EBITDA and EBIT.

In 2015, the company's revenue is expected to remain at the same levels of 2014 and EBIT is expected to improve as compared to 2014.