Hellenic Cables Group turnover amounted to 221 million euro in the first half of 2015, increased by 26% compared to the first half of 2014 (175 million euro), resulting from increased sales volume.

Consolidated earnings before interest, taxes and depreciation and amortization (EBITDA) in the first half of 2015 amounted to 21.8 million euro compared to 358 thousand euro losses in the first half of 2014, while the operating result (EBIT) of the Group amounted to profits of 14.6 million euro compared to 4.7 million euro losses in the first half of 2014. The improvement is attributed to the increase in sales volume, as well as to the growth of the sales of high value-added products. Moreover, the results of the first half of 2014 were adversely affected by the implementation of the investment plan in subsidiary Fulgor (inactivity costs during the upgrade of existing equipment and installation of new equipment).

Consolidated earnings before taxes amounted to 3.1 million euro compared to losses of 12.3 million euro in the first half of 2014, while net results after taxes and minority interests amounted to profit of 2.2 million euro or 0.0756 euro per share.

The Group's net debt amounted to 242 million euro on 30/6/2015 versus 218 million euro on 31/12/2014, resulting mainly from increased needs for working capital due to the improved turnover. Investments during the first half of 2015 amounted to 4.9 million euro

Hellenic Cables remains optimistic for 2015 despite the volatile business. The initiatives taken in recent years have focused on increasing sales of value-added products, developing a competitive sales network, increasing productivity and reducing production costs. Thus, the Group is able to exploit the opportunities presented internationally and worthily compete with the leading companies in the sector.

Published on Wednesday, Aug 26, 2015, after the closing of the ASE

The Data & Information for the period 1.1.2015 - 30.06.2015 with the Semi-annual financial report for the same period will be posted on the Company's website on the Internet at www.cablel.com, and the website of ASE www.athexgroup.gr.