Varvaressos European Spinn Mills reported earnings results for the year 2011. For the year, the company reported turnover reached EUR 17.6 million in comparison to EUR 21.84 million in 2010. The company's LBITDA amounted to EUR 0.47 million in comparison to EUR 1.02 million in previous year's corresponding period. Loss after taxes decreased from EUR 4.12 million to EUR 3.55 million EURO in 2011, resulting to a loss per share EUR 0.3449.