Investimentos Participacoes e Gestao SA (INAPA) announced earnings results for the first quarter of 2014. For the quarter, the company announced sales increased 5.7% relatively to March 2013. Recurrent EBITDA increased 26.5% to EUR 8.4 million, with a margin of 3.5%.

Operational results increased EUR 1.5 million to EUR 6.6 million. Net profit before tax increases 38.8% to EUR 2.4 million. Net income increased 33% to EUR 1.5 million.

Net debt, on a pro forma basis, decreased EUR 4.5 million compared with March 2013.