Ruukki Group Oyj - Company Announcement

CORRECTION TO RUUKKI GROUP'S FINANCIAL STATEMENTS REVIEW

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|  Q4/12|FY2012 reported|FY2012 amended
                                |reported|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         |     0.0|    0.0|            0.0|           0.0
operations                      |        |       |               |
                                |        |       |               |
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    |Speciality| Ferro|Unallocated|Eliminations|Continuing|
|12 months  |    Alloys|Alloys|      items|            |operations|
|EUR million|          |      |           |            |     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    |Speciality| Ferro|Unallocated|Eliminations|Continuing|
|12 months  |    Alloys|Alloys|      items|            |operations|
|EUR million|          |      |           |            |     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, +358 (0)400 539 968,
kalle.lehtonen@ruukkigroup.com
Markus Kivimäki, General Manager: Corporate Affairs, +358 (0)50 3495 687,
markus.kivimaki@ruukkigroup.com

Investec Bank Plc
Neil Elliot, +44 (0)20 7597 5970, neil.elliot@investec.co.uk
George Price, +44 (0)20 7597 5970, george.price@investec.co.uk

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

[HUG#1685821]

Attachments:

Financial-Statements-Review.pdf