Athens, Thursday August 28, 2014

SIDENOR HOLDINGS S.A. 

ANNOUNCEMENT

FIRST HALF 2014 RESULTS

The financial results of SIDENOR Group for the first half of 2014 marked significant improvement compared to the first half of 2013, as a result of the reduction of operating cost, due to the capitalization of the last years' investment program. At the same time, the continuous enrichment of the product portfolio and the partial restart of certain public works contributed to the improvement of Group's results.

In particular, consolidated turnover in the first half of 2014 remained at the same level as in the respective period last year and stood at € 402.3 mil. compared to €405.1 mil. Consolidated EBITDA significantly increased and stood at € 10.3 mil. compared to €0.8 mil. in the first half of 2013. This came as a result of both the reduction of the production cost, as well as the reduction of the energy cost, following the decrease of electricity price since 1/1/2014, step which is in the right direction, however additional reductions should be done in order the final price to become competitive. Moreover significant improvement marked the results after tax and minority rights that stood in the first half of 2014 at losses of € 25.4 mil. (or losses 0.2642 euro per share) compared to losses of €43.2 mil. (or losses 0.4488 euro per share) in the first half of 2013.

The key pillars of SIDENOR Group's strategy are the further improvement of the variable production cost, through the completion of the investment projects, the continuous optimization of the working capital, the further enhancement of the products' portfolio and the expansion of its activities with the penetration into new markets abroad.

Publication: Thursday August 28, 2014, following the end of ATHEX's trading session.

The Data and Information of the period 1.1.2014 – 30.06.2014 will be published together with the Semi-Annual Financial Report of the same period and will be posted on the company's website, www.sidenor.gr , as well as on the ATHEX website www.helex.gr on August 28, 2014, following the end of ATHEX's trading session.