Sadovaya Group S.A. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $287,489 against $14,586,653 a year ago, driven by substantial drop in sales volumes. Operating loss was $3,823,512 against operating profit of $77,471 a year ago.

Loss before tax was $4,548,913 against profit before tax of $454,058 a year ago. Loss was $4,341,348 against profit of $746,389 a year ago. Loss per share was $0.10 against earnings per share of $0.02 a year ago.

Profit attributable to equity holders of the parent was $4,340,187 against $746,133 a year ago. Net cash flows from operating activities were $1,827,837 against net cash flows used in operating activities of $6,874,044 a year ago. Purchase of property, plant, equipment and intangible asset was $332,991 against $2,913,715 a year ago.

The positive cash flow from operations reflects the substantial discharge of trade receivables.