Athens, Wednesday November 27, 2013

NINE MONTH 2013 RESULTS

The decreased demand in the European markets, the continuous uncertainty in the area of the south Mediterranean and North Africa and the ongoing economic crisis in the Greek economy, resulted in the decrease of the financial figures of SIDENOR Group, both in terms of sales, as well as in terms of results.

In this framework, consolidated sales stood in the nine-month period of 2013 at €610.9 mil. compared to €847.7 mil. in the respective period last year decreased by 27.9%. Consolidated EBITDA stood at €8.4 mil. compared to €22.2 mil. in the nine-month period of 2012, significantly affected by the high energy cost. Finally, consolidated results after tax and minority rights stood in the nine-month period of 2013 at losses of €57.8 mil. (or losses of 0.6004 euro per share) compared to losses of €49.8 mil. (or losses of 0.5173 euro per share) in the nine-month period of 2012, additionally due to the increase in the corporate income tax rate (from 20% to 26%) and the recalculation of deferred tax of the Group's Greek companies, that resulted in an additional one-off deferred tax loss of €13.6 mil., which was recorded in the first quarter and burdened the results of the fiscal year of 2013.

It is important to note that the effective actions to reduce operating costs in conjunction with the improved management of raw materials and inventories, allowed the Group to record significant positive cash flows from operating activities.

The key pillars of the Group's strategy are the strengthening of its export orientation and the increase of its competitiveness. The high capacity of the production facilities, the extensive sales network and the continuous efforts for penetration in new markets, guarantee the effective continuation and the expansion of the SIDENOR Group's activities. At the same time, the efforts to improve the product mix and to further reduce production cost, are continued. Within this framework, it was recently announced the start of an innovative investment that will be initially implemented at the SOVEL premises, in order to reduce both the consumption of energy and the factory's carbon footprint (Co2).

Publication: Wednesday November 27, 2013, following the end of ATHEX's trading session.

The Data and Information of the period 1.1.2013 – 30.09.2013 will be published together with the Interim Financial Statements for the same period and will be posted on the company's website, www.sidenor.gr, as well as on the ATHEX website www.athex.gr, on November 27, 2013, following the end of ATHEX's trading session.