CORRECTION TO RUUKKI GROUP'S FINANCIAL STATEMEN...

07:00 London, 09:00 Helsinki, 18 March 2013 - Ruukki Group Plc ("Ruukki" or "the Company") (LSE: RKKI, OMX: RUG1V), Stock Exchange Release


CORRECTION TO RUUKKI GROUP'S FINANCIAL STATEMENTS REVIEW

As part of the preparation of 2012 Financial Statements the Company and the auditors have come to a conclusion that some of the accounting assumptions used when preparing the Q4 Interim Results and Financial Statements Review need to be amended. This relates solely to how certain parts of the settlement agreement with the Vendors of Mogale Alloys are recorded in the Financial Statements. Consequently the Company is restating the Financial Statements Review for 1 January - 31 December 2012.

The changes to the published financials are the following:

• EBITDA has increased by EUR 1.3 million in Q4 2012 to EUR 7.3 million and full year EBITDA has increased from EUR 10.9 million to EUR 12.2 million 

• EBIT has increased by EUR 1.3 million in Q4 2012 to EUR 1.1 million and full year EBIT has increased from EUR -15.9 million to EUR -14.6 million 

• Profit has increased by EUR 1.3 million in Q4 2012 to EUR -6.3 million and full year profit has increased from EUR -18.1 million to EUR -16.8 million 

• Goodwill has decreased by EUR 3.5 million 

• Equity has decreased by EUR 3.8 million 

• Liabilities have increased by EUR 0.3 million 

These changes have not had any impact to Company's cash position or to the Mogale Alloys Vendor settlement agreement.

After these changes the impact of the arrangement on Ruukki's balance sheet once fully completed is:

• Debt will decrease by approximately EUR 51 million 

• Cash will decrease by approximately EUR 16 million 

• Goodwill will decrease by approximately EUR 28 million  

• Other receivables will decrease by approximately EUR 4 million 

• Equity will increase by approximately EUR 3 million  

On October 11, 0212 Ruukki estimated that after completion the impact of the arrangement on its balance sheet will be:

• Debt will decrease by approximately EUR 51 million 

• Cash will decrease by approximately EUR 15 million  

• Goodwill will decrease by approximately EUR 25 million 

• Other receivables will decrease by approximately EUR 4 million 

• Equity will increase by approximately EUR 6 million  

KEY FIGURES (EUR million)	Q4/12 reported	Q4/12 amended	FY2012 reported	FY2012 amended
Revenue	24.3	24.3	130.4	130.4
EBITDA	6.0	7.3	10.9	12.2
EBITDA margin	24.8%	30.0%	8.3%	9.3%
EBIT	-0.2	1.1	-15.9	-14.6
EBIT margin	-0.9%	4.4%	-12.2%	-11.2%
Earnings before taxes	-5.4	-4.1	-19.8	-18.5
Earnings margin	-22.2%	-16.9%	-15.2%	-14.2%
Profit for continuing operations	-7.6	-6.3	-18.1	-16.8
Profit for discontinued operations	0.0	0.0	0.0	0.0
Profit	-7.6	-6.3	-18.1	-16.8
Earnings per share, basic, EUR	-0.03	-0.03	-0.07	-0.06

FINANCIAL DEVELOPMENT BY SEGMENT

Reported:

FY 2012 12 months EUR million	Speciality Alloys	Ferro Alloys	Unallocated items	Eliminations	Continuing operations total
Revenue	76.5	53.9	0.8	-0.8	130.4
EBITDA	10.7	5.4	-5.2	0.0	10.9
EBIT	-6.9	-3.7	-5.3	0.0	-15.9

Amended:

FY 2012 12 months EUR million	Speciality Alloys	Ferro Alloys	Unallocated items	Eliminations	Continuing operations total
Revenue	76.5	53.9	0.8	-0.8	130.4
EBITDA	10.7	6.7	-5.2	0.0	12.2
EBIT	-6.9	-2.4	-5.3	0.0	-14.6

The amended financial statements review is published attached to this stock exchange release.

The Company's complete Financial Statements, the Board of Directors Report, the Corporate Governance Statement and the Remuneration Report for 2012 will be published during the week commencing 25 March 2013 and will be available on the Company's website at www.ruukkigroup.com and at the Company's offices.

RUUKKI GROUP PLC
Danko Koncar
CEO


For additional information, please contact:

Ruukki Group Plc

Kalle Lehtonen, General Manager: Finance, [phone], [e-mail]
Markus Kivimäki, General Manager: Corporate Affairs, [phone], [e-mail]

Investec Bank Plc
Neil Elliot, [phone], [e-mail]
George Price, [phone], [e-mail]

Financial reports and other investor information are available on the Company's website: www.ruukkigroup.com.

Ruukki Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ OMX Helsinki (RUG1V) and the Main Market of the London Stock Exchange (RKKI).
www.ruukkigroup.com

Distribution:
NASDAQ OMX Helsinki
London Stock Exchange
main media
www.ruukkigroup.com

Financial-Statements-Review

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Source: Ruukki Group via Thomson Reuters ONE

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