The nine month period of 2014 closed with profitability and improved performance both in turnover and margins for the Group of Kleemann, compared to the corresponding period of last year.

More specifically, the Group's turnover for the nine month period of 2014 amounted to 67,8 mln euro from 61,9 mln euro, that is an increase of 9,6% compared to the same period of 2013. The consolidated gross margin amounted to 35,1% from 33,4% last year. Earnings after taxes amounted to 3,1 mln euro from 2,8 mln euro in the corresponding period of 2013, that is an increase of 11,7%. It should be noted that the results were affected by provisions for doubtful debtors amounting to 2,8 mln euro from 1,8 mln euro in the corresponding period of 2013. Profit after tax and minority interests for the nine months period of 2014 amounted to 2,4 mln euro from 1,9 mln euro in the corresponding period in 2013, that is an increase of 26,4%.
The cash flow from operating activities in the nine month period of 2014 increased by 8,2 mln euro and amounted to 14,0 mln euro from 5,8 mln euro in the corresponding period of 2013. Total equity to liabilities is very high and amounts to 2,04. Net debt amounted to -8.6 mln euro from -5,0 in 31/12/2013. This performance confirms the financial self-sustainability of the Group, as well as its healthy financial state, while it ensures its unhindered operation and future growth.
The internationalization strategy and extroversion in recent years has resulted in the Group being present in more than 92 countries, with international sales amounting to 89% of its turnover. Additionally, Kleemann Group founded a new representative office in France, in order to have more direct communication and growth in that market.
Finally, an important investment for the Group's infrastructure is in progress, the purchase of a new, modern ERP Software. Installation has begun and will be completed next year.
For the closing of the year, the management expects the improved performance and the high liquidity of the Group to be maintained.