Corporación Lindley S.A. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net sales were PEN 496,103,000 compared to PEN 458,688,000 a year ago, mainly driven by sales growth in the sparkling and water categories, in single serve and multiserve formats respectively. Operating income was PEN 11,194,000 compared to PEN 19,247,000 a year ago. Loss before tax was PEN 53,591,000 compared to PEN 9,254,000 a year ago. Net loss was PEN 51,249,000 compared to PEN 8,273,000 a year ago, mainly impacted by the foreign exchange net loss from the depreciation of local currency in the quarter. Adjusted EBITDA totaled PEN 67.4 million compared to PEN 74.7 million in the same period of 2013, decreased mainly due to higher selling expenses from improvements in sales and distribution capabilities.

For the nine months, net sales were PEN 1,603,803,000 compared to PEN 1,542,424,000 a year ago. Operating income was PEN 80,504,000 compared to PEN 105,278,000 a year ago. Loss before tax was PEN 39,630,000 compared to PEN 67,362,000 a year ago. Net loss was PEN 38,335,000 compared to PEN 60,090,000 a year ago. Cash and cash equivalents, provided by operating activities were PEN 196,564,000 compared to PEN 61,185,000 a year ago. Purchases of property, plant and equipment and investment properties were PEN 426,318,000 compared to PEN 266,644,000 a year ago, mainly explained by greater collections of trade account receivables and account receivables from related parties, an increase in trade accounts payable to suppliers, as well as a decrease in inventories from higher sales and lower inventory targets. Adjusted EBITDA was PEN 251.7 million compared to PEN 269.6 million a year ago.