Magellan S.A. reported consolidated and parent earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis, the company reported sales revenue of PLN 36,436,000 against PLN 32,334,000 a year ago. Operating profit was PLN 14,771,000 against PLN 12,294,000 a year ago. Profit before tax was PLN 15,338,000 against PLN 12,783,000 a year ago. Net profit from continuing operations was PLN 12,345,000 against PLN 10,227,000 a year ago. Net profit was PLN 12,345,000 or PLN 1.87 per share against PLN 10,227,000 or PLN 1.57 per share a year ago.

For the six months, on consolidated basis, the company reported sales revenue of PLN 72,141,000 against PLN 62,828,000 a year ago. Operating profit was PLN 29,971,000 against PLN 24,083,000 a year ago. Profit before tax was PLN 31,219,000 against PLN 25,008,000 a year ago. Net profit from continuing operations was PLN 25,130,000 against PLN 20,046,000 a year ago. Net profit was PLN 25,130,000 or PLN 3.83 per share against PLN 20,046,000 or PLN 3.08 per share a year ago. Net cash used in operating activities was PLN 60,135,000 against PLN 59,896,000 a year ago. Expenditure on acquisition of property, plant and equipment was PLN 250,000 against PLN 635,000 a year ago.

For the quarter, on parent basis, the company reported sales revenue of PLN 30,332,000 against PLN 27,663,000 a year ago. Operating profit was PLN 12,405,000 against PLN 10,397,000 a year ago. Profit before tax was PLN 12,551,000 against PLN 10,613,000 a year ago. Net profit from continuing operations was PLN 10,019,000 against PLN 8,437,000 a year ago. Net profit was PLN 10,019,000 or PLN 1.52 per share against PLN 8,437,000 or PLN 1.30 per share a year ago.

For the six months, on parent basis, the company reported sales revenue of PLN 61,007,000 against PLN 54,555,000 a year ago. Operating profit was PLN 25,742,000 against PLN 20,897,000 a year ago. Profit before tax was PLN 26,116,000 against PLN 21,336,000 a year ago. Net profit from continuing operations was PLN 20,858,000 against PLN 16,972,000 a year ago. Net profit was PLN 20,858,000 or PLN 3.18 per share against PLN 16,972,000 or PLN 2.61 per share a year ago. Net cash used in operating activities was PLN 44,694,000 against PLN 32,861,000 a year ago. Expenditure on acquisition of property, plant and equipment was PLN 234,000 against PLN 614,000 a year ago.