The turnover of HELLENIC CABLES Group amounted to € 271 million in the first nine months of 2013, being decreased by 18% compared to 2012 (€ 331 million) due to the reduced demand in main EU markets which were considerably affected by the persistent economic recession. Yet, it is worthwhile stating that Group sales beyondEuroperose by 23%, this being an indication of the actions taken to increase sales in countries giving signs of recovery.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 3.8 million, registering a 51% decrease compared to 2012, while the Group's earnings before interest and tax (EBIT) amounted to losses of € 2.6 million compared to profits of € 921,000 in 2012. The reduced sales and increased competition as well as the delay in the award of major contracts have affected Group results while the valuation of metal basic inventories had a considerable effect thereupon due to the major price drop in the metal stock exchange.

Consolidated results before taxes amounted to losses of € 11.5 million compared to losses of € 11.3 million in 2012, while net consolidated results after taxes and minority interest stood at losses of € 11.1 million or € 0.375 per share. Net consolidated results of the first half of 2013 were also charged with a lump-sum loss of € 1.8 million because the deferred tax liability was re-calculated due to the change in the income tax rate from 20% to 26%.

The Group's net borrowing stood at € 171 million compared to € 150 million on 31.12.2012, since the amount of € 23 million was disbursed at Group level for investments.

The Group remains focused on the implementation of its strategic planning, focusing on high added value products and on international markets to improve its financials. Moreover, there are still made investments in the development of new products while the efforts made for strengthening the sales networks, further reducing the production cost and optimizing the management of working capital are intensified.