Monday, 26 November 2012 – During the first nine months of 2012, the turnover of HELLENIC CABLES Group amounted to € 331 million increased by 9% compared to 2011 (€ 305 million). International sales rose by 22% and account for 77% of the consolidated turnover while sales in the domestic market fell by 21% compared to 2011.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 7.9 million, registering a 47% decrease compared to 2011, while the Group's earnings before interest and tax (EBIT) amounted to profits of € 921,000 compared to € 8.2 million in 2011.

At both EBITDA and EBIT level, the Group's results register a gradual improvement during 2012 despite the adverse circumstances prevailing in international markets. Nevertheless, profit margins remained at low levels due to the reduced demand in key European markets. Moreover, the consolidation of FULGOR had a certain impact.

Consolidated results before taxes amounted to losses of € 11.3 million compared to profits of € 3.3 million in 2011, while net consolidated results after taxes and minority interest stood at losses of € 9.9 million or € 0.3461 per share.

The net borrowing of the Group amounted to € 150 million being reduced by € 1.5 million since 31.12.2011 while the amount of € 9.4 million was disbursed during the first nine months of 2012 for investments.

The Group continues to focus on products of high added value and on international markets since the contribution of the Greek market to the Group's turnover has fallen significantly. A major investment program is carried out in FULGOR's production plant inCorinthwith respect to the production of high voltage submarine cables along with significant enhancement programs in other equipment items. Concurrently, efforts are unwaveringly made to reduce the production cost and optimize the management of working capital.