Athens, Thursday March 12, 2015

SIDENOR HOLDINGS S.A. 

ANNOUNCEMENT

FISCAL YEAR 2014 FINANCIAL RESULTS

During 2014, Sidenor Group achieved significant improvement of its financial results versus 2013 despite the unfavorable circumstances in the Greek economy, the construction sector and the international steel market. The mild recovery of the reinforcing bars market in Greece due to the restart of significant infrastructure projects, the improvement in costs of the Stomana Industry subsidiary, the new higher value added products (such as special steels and 2.5 meter wide steel plates), along with the penetration into the plate products market in the USA have contributed to the improvement of the GroupΆs financial results.

Specifically, consolidated turnover during FY 2014 reached EUR 822.1 mil., compared to EUR 807.7 mil. in FY 2013, marking an increase of 1.8%. Consolidated losses before taxes amounted to EUR 54.9 mil. versus EUR 75.4 mil in 2013, while EBITDA increased by 101% to EUR 23 mil. compared to EUR 11.5 mil. during the previous year. Finally, earnings after taxes and minority rights during FY 2014 amounted to losses of EUR 49.7 mil. (or losses of EUR 0.5165 per share) compared to losses of EUR 73.7 mil. (or losses EUR 0.7663 per share) in 2013.

Looking ahead to 2015, the export orientation of the Group allows it to benefit from the weakening of the EUR/USD exchange rate, as well as from the leverage derived from the GroupΆs production investments performed during previous years. In particular, the operation of the new induction furnace at  the subsidiary Sovel, the upcoming completion of the new induction furnace in Thessalonica, the installation of the vacuum degasser and the billet conditioning at Stomana Industry in Bulgaria, the investments in Dojran Steel in FYROM for the production of merchant bars and the further enrichment of the product portfolio along with expansion of the GroupΆs activities into new geographical markets, will contribute significantly to the improvement of its cost structure and its financial results during the period.

Publication: Thursday March 12, 2015 following the end of ATHEXΆs trading session

The Data and Information of the period 1.1.2014 – 31.12.2014 will be published together with the Annual Financial Report for the same period and will be posted on the companyΆs website, www.sidenor.gr , as well as on the ATHEX website www.helex.gr, on March 12, 2015, following the end of Athens ExchangeΆs trading session.