Avangardco Investments Public Limited announced consolidated earnings and operating results for the first quarter ended March 31, 2015. For the period, the company reported revenue of $72,426,000 against $152,199,000 a year ago. Profit from operating activities was $160,000 against $54,720,000 a year ago. Loss before tax was $52,162,000 against profit before tax of $46,873,000 a year ago. Loss for the period was $52,179,000 against profit for the period of $46,799,000 a year ago. Loss for the period attributable to owners of the company was $51,713,000 or $7 per basic and diluted share against profit of $46,157,000 or $9 per basic and diluted share a year ago. Net cash used in operating activities was $3,356,000 against net cash generated from operating activities of $39,409,000 a year ago. EBITDA was $6,357,000 against $61,163,000 a year ago. At the end of reporting period the company's net debt amounted to $249.4 million.

For the quarter, total production was 1,051 million pieces against 1,889 million pieces a year ago.