27 February 2013 – In 2012, the turnover of HELLENIC CABLES Group amounted to € 439 million, increased by 6% compared to 2011 (€ 415 million). International sales rose by 12% and account for 75% of the consolidated turnover while sales on the domestic market dropped by 8% compared to 2011.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 10.7 million, registering a 49% decrease compared to 2011, while the Group's earnings before interest and tax (EBIT) amounted to profit of € 2.1 million compared to € 11.8 million in 2011.

The Group's results became worse in relation to 2011 due to the slackened demand and increased competition in main European markets, the postponement of important orders and highly profitable projects and also due to the increased cost incurred for reorganizing FULGOR and optimizing its production processes. It should be noted, however, that the Group's results gradually improved during 2012 despite the adverse circumstances prevailing in the international markets.

Consolidated results before taxes amounted to losses of € 13.3 million compared to profits of € 3.6 million in 2011, while net consolidated results after taxes and minority interest stood at losses of € 11.2 million or € 0.387 per share.

The Group's net borrowing stood at € 150 million, being reduced by € 1.7 million since 31.12.2011 while € 15 million were disbursed at Group level for investments.

The Group still focuses on high added value products and on international markets since the contribution of the Greek market to the Group's turnover has significantly dropped. A major investment plan is implemented in FULGOR production unit inCorinthfor the production of high voltage submarine cables while considerable enhancement plans have been carried out for other equipment items. Concurrently, efforts are unswervingly made to curtail the production cost and optimize the management of working capital.