The turnover of HELLENIC CABLES Group amounted to € 415 million in 2011, registering an 18% increase compared to 2010, which is due to the Group's increased sales to other countries and also to the consolidation of the new subsidiary FULGOR SA, which was acquired on 29 July 2011.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 20.9 million, registering a 58% increase compared to 2010, while earnings before interest and tax (EBIT) amounted to € 11.8 million, increased by 130% compared to 2010. The increase is due to the increased sales and also to the improvement in margins despite the fierce competition and upward trends of raw materials, as a result of the increased sales of added value products.

Consolidated results before taxes amounted to profits of € 3.6 million compared to € 568 thousand in 2010, while net consolidated profits after taxes and minority interests stood at € 3.3 million or € 0.117 per share.

HELLENIC CABLES Group pursues steadily its growth, focusing on the administrative and operational incorporation of FULGOR in the Group, on the attainment of synergies and economies of scale, on increasing its sales to foreign markets and also on improving profit margins through the increased sales of high added value products. At the same time, efforts for optimising the working capital management are intensified.          

Published on Monday, 19 March 2012, following the end of ASE meeting

The Facts & Information on the period from 01.01.2011 to 31.12.2011 are published in the Issue dated 20 March 2012 of "CHRIMASTIRIO" and "ESTIA” newspapers and will be uploaded, together with the Annual Financial Report on the same period, on the Company's website www.cablel.com.