PRESS RELEASE

INTERIM FINANCIAL STATEMENTS
Of the period from 1st July 2013 to 31th March 2014

The Board of Directors of HSI S.A during its meeting on Wednesday 28/05/2014 gave its approval for the financial reports of HSI S.A and of the Group covering the period from 01/07/2013 to 31/03/2014. According to the approved financial statements the Company's turnover amounted to € 82.37 mil presenting a decrease of 35.95% as compared to the respective period of the previous fiscal year. The Group's Turnover (including the subsidiary companies of Serbia AD FABRIKA SECERA “SAJKASKA” και AD FABRIKA SECERA “CRVENKA”) reached € 139.03 mil presenting a decrease of 22.70% as compared to the respective period of the previous financial year.
It should be noted that in this reduction of turnover, compared with the respective period of the previous financial year, contributed in particular the increase of global sugar production, the conditions of competition and thus the significant reduction in the price of sugar. In addition, the above price reduction has affected negatively the valuation of inventories, thereby leading to temporally negative gross operating results for the company.
The Company's gross profit margin reached (6.34%) compared to 15.18% at the respective period of the previous fiscal year. Respectively, for the Group the gross profit margin reached 7.67% compared to 20.09% at the respective period of the previous fiscal year.
Earnings before interest, tax, investment results and depreciation (EBITDA) of the Company reached € (15.54) mil from € 5.06 mil at the respective period of the previous financial year. Earnings before interest, tax, investment results and depreciation (EBITDA) for the Group, reached € (4.64) mil as compared to € 17.83 mil at the respective period of the previous financial year.
Earnings before tax for the Company reached € (27.39) mil as compared to € (7.28) mil at the respective period of the previous financial year. Consolidated Earnings before tax reached € (19.63) mil as compared to € 3.08 mil at the respective period of the previous financial year.
Finally, Net Profits / (Losses) after tax for the Company reached € (26.10) mil from € (3.48) mil at the respective period of the previous financial year. The Net Consolidated Profits after tax reached € (19.19) mil from € 5.90 mil, at the respective period of the previous financial year.
Data and Information for the period from July 1st, 2013 to March 31st, 2014 will be available, along with the financial reports of the same period, on the webpage of the company www.ebz.gr as well as the webpage of the Athens Stock Exchange www.helex.gr.