Athens, November 26, 2014

SIDENOR HOLDINGS S.A. 

ANNOUNCEMENT

9 MONTHS 2014 FINANCIAL RESULTS

The financial results of Sidenor Group for the first nine months of 2014 marked significant improvement compared to the first nine months of 2013. The basic reasons for that was the reduction of production cost, the increase of sales in Greece resulting from the partial restarting of the certain public works, the continuous enrichment of the product portfolio, the increased sales of flat products and special steel in the USA, as well as the investments performed during the past years. Nevertheless, it must be noted that private construction activity in Greece still appears to be to be extremely weak.

More specifically, consolidated sales during 9M 2014, remained approximately at the same level as in the 9M 2013 and shaped at € 609.2 mil. as opposed to € 610.9 mil., during the first nine months of 2013. Group gross margin formed at € 57.0 mil. versus 45.0 mil, the corresponding period of the previous year, as a consequence of the reduction in production cost. Consolidated EBITDA significantly increased and stood at € 17.5 mil. compared to € 8.4 mil. in the first nine months of 2013. Moreover significant improvement marked the results after tax and minority rights that stood in the 9M of 2014 at losses of € 35.7 mil. (or losses 0.3711 euro per share) compared to losses of €67.0 mil. (or losses 0.6004 euro per share) in the first nine months of 2013.

Sidenor Group despite the ongoing negative conjuncture, that currently prevails in the steel sector in Greece and internationally, proceeds the execution of its investment program, with the key pillars of the Group's strategy being the further improvement of the variable production cost, the continuous optimization of the working capital, the further enhancement of the products' portfolio, the augmentation of exports and the expansion of its activities with the penetration into new markets abroad.

Publication: Thursday November 26, 2014, following the end of Athens Exchange trading session.

The Data and Information of the period 1.1.2014 – 30.09.2014 will be published together with the Interim Financial Statements of the same period and will be posted on the company's website, www.sidenor.gr , as well as on the ATHEX website www.helex.gr on November 26, 2014, following the end of ATHEX's trading session.