Neo Industrial Plc Announces Correction to Financial Statement Release of February 28, 2013

Neo Industrial Plc announced that it published its financial statement release on February 28, 2013. The companies of its Viscose Fibres segment, Avilon Fibres Ltd and Carbatec Ltd, filed for bankruptcy on March 6, 2013, after the publication of the financial statement release, in which the Viscose Fibres segment was presented in discontinued operations. Because the financial statements for 2012 had not yet been completed in full on February 28, 2013, the date of the publication of the financial statement release, the effect of the bankruptcies has been taken into account in the corrected financial statement release and in the financial statements to be published on March 14, 2013. In accordance with the IFRS standards, the assets and liabilities of the companies of the Viscose Fibres segment have been recorded as write-offs on the balance sheet. The Group’s guarantee liabilities related to Avilon Fibres Ltd have been recorded as liabilities on the consolidated balance sheet through profit or loss. Combined, they had a negative effect of EUR 2.5 million on the consolidated income statement. The corrected result for the financial period from continuing operations is EUR -6.0 million (-2.2 million before the correction). The Group’s corrected result is EUR -6.3 million (-3.8 million before the corrections). The balance sheet total decreased from EUR 76.1 million to EUR 62.9 million. The Group’s corrected equity ratio is 13.8% (14.7% before the correction).