Corporación Lindley S.A. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company's net sales were PEN 636,779,000 compared to PEN 599,672,000 a year ago, mainly due to steady growth in volume as well as an adequate price-mix strategy across categories. Operating income was PEN 67,055,000 compared to PEN 58,627,000 a year ago. Loss before taxes was PEN 21,353,000 compared to income before taxes of PEN 17,375,000 a year ago. Net loss was PEN 21,353,000 compared to net income of PEN 11,637,000 a year ago. Cash and cash equivalents, provided by operating activities was PEN 37,702,000 compared to PEN 99,712,000 a year ago, mainly explained by a decrease in trade account payables and account payables to related parties, which was partially offset by lower accounts receivables and inventories. Purchases of property, plant and equipment and investment properties were PEN 66,313,000 compared to PEN 254,156,000 a year ago. Adjusted EBITDA was PEN 127.9 million compared to PEN 116.3 million a year ago.

Volume grew 1.3% during first quarter 2015 to 79.2 million unit cases compared to 78.2 million unit cases a year ago. Volume growth was benefitted from higher temperatures along the coastal region and effective marketing campaigns during the quarter. Sparkling volume slightly declined 0.3% during the quarter. Lower volume in multi serve formats offset the increase in single serve presentations. Despite the volume decrease, revenue for this category rose 4.2% with solid growth in key brands during the summer season. Water volume grew 5.7% in first quarter 2015 compared to the same period last year, while water revenue increased 15.6%. The company continues to strengthen brand positioning in order to maintain the progress in this category. Juices volume and revenue increased 10.2% and 14.0% respectively in first quarter 2015. Solid performance in this category was led by family formats, which benefitted from effective commercial actions targeting the back-to-school season. Isotonics and hydrotonics volume decreased 11.4% during the first quarter, reflecting continued category softness.