Investimentos Participacoes e Gestao SA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total Income of EUR 232,683,000 against EUR 222,328,000 reported a year ago. Net loss before income tax was EUR 65,000 against EUR 861,000 reported a year ago. Net profit attributable to shareholders of the company was EUR 57,000 or EUR 0.0004 per basic and diluted share against net loss of EUR 656,000 or EUR 0.001 per basic and diluted share reported a year ago. Net cash generated from operating activities was EUR 11,449,000 against EUR 4,974,000 a year ago. Payments in respect of tangible fixed assets were EUR 602,000 against EUR 353,000 a year ago. Payments in respect of intangible assets were EUR 422,000 against EUR 375,000 a year ago. EBIT was EUR 4.0 million against EUR 3.3 million a year ago.

For the six months, the company reported total Income of EUR 482,629,000 against EUR 459,524,000 a year ago. Net profit before income tax was EUR 2,291,000 against EUR 836,000 a year ago. Net profit attributable to shareholders of the company of EUR 1,534,000 or EUR 0.003 per basic and diluted share compared to EUR 520,000 or EUR 0.001 per basic and diluted share a year ago. Net cash generated from operating activities was EUR 28,239,000 against EUR 20,706,000 a year ago. Payments in respect of tangible fixed assets were EUR 1,708,000 against EUR 667,000 a year ago. Payments in respect of intangible assets were EUR 536,000 against EUR 545,000 a year ago. EBIT was EUR 10.6 million against EUR 8.5 million a year ago. Net debt on June 30, 2014 was EUR 332.1 million against EUR 331.9 million a year ago.