Athens, Wednesday May, 29 2013

FIRST QUARTER 2013 RESULTS

The adverse conditions that prevailed in Greece throughout 2012 remained in the first quarter of 2013 as well, with the Greek building and construction market declining further. Respectively, the European market, except Germany, continues to be in recessionary course.

Within this framework, consolidated sales stood in the first quarter of 2013 at €184.3 mil. compared to €272.4 mil. in the respective period last year, decreased by 32.3%. Consolidated EBITDA stood at losses €2.9 mil. compared to profits of €5.4 mil. in the first quarter of 2012.

Due to the increase in the income tax rate from 20% to 26%, the recalculation of deferred tax of the Group resulted in an additional deferred tax loss of €13.6 mil. which fully burdened the results of the first quarter and finally net consolidated results after tax and minority rights amounted to losses of €26.9 mil. (or losses of 0.2796 euro per share), compared to losses of €17.6 mil. (or losses of 0.1825 euro per share) in 2012. It is noted that the financial results have been adversely affected by the increased energy cost, that is further burdened by consumption tax, along with the increase in borrowing costs.

The improved management of inventories and raw materials and the significant efforts to reduce operating costs, allowed SIDENOR to maintain its net debt at the levels of end of 2012 and presented positive cash flows from operating activities.

SIDENOR Group's Management remains committed to the implementation of its strategic plan capitalizing on the high competitiveness of its facilities. At the same time, it continues the efforts to reduce the operating cost, to increase its market shares, to strengthen its sales network entering into new foreign markets and to develop new products of high added value.

 Publication: Wednesday May 29, 2013, following the end of ATHEX's trading session.

The Data and Information of the period 1.1.2013 – 31.03.2013 will be published together with the Interim Financial Statements for the same period and will be posted on the company's website, www.sidenor.gr, as well as on the ATHEX website www.athex.gr, on May 29, 2013, following the end of ATHEX's trading session.