The Board of Directors of Sabaf SpA has acknowledged the resignation of Director Gregorio Gitti and, in accordance with the provisions of the law and by-laws, co-opted Maria Chiara Franceschetti to join the Board of Directors of the company to replace Gregorio Gitti starting on May 7, 2013 and until the next shareholders' meeting. Maria Chiara Franceschtti is on the Board of Directors of Gefran S.p.A., where she is the Director of Human Resources. The board also verified that Maria Chiara Franceschetti has the autonomy requirements required by the TUF and the code of corporate governance by Borsa Italiana.

Sabaf SpA reported consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the period, the company revenue was €31,373,000 against €37,337,000 a year ago. Operating profit (EBIT) was €2,471,000 against €3,254,000 a year ago. Pre-tax profit was €2,258,000 against €2,705,000 a year ago. Net profit for period was €1,306,000 against €1,700,000 a year ago. Cash flow from operations was €1,924,000 against €3,856,000 a year ago. EBITDA for the quarter was €5.7 million. In the month of April, there was a substantial improvement in sales, due to the contribution of new orders: the sales revenue for the first four months of 2013 was €42 million, down about 8% compared to €45.9 million in January-April 2012. Further improvement is expected in May. For fiscal 2013, the Group confirms the forecasted slightly improved levels of sales and profitability compared with 2012, due to a growing contribution expected from markets outside Europe.

ySabaf SpA reported consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total operating revenue and income of EUR 31,704,000, EBITDA of EUR 4,886,000, operating profit of EUR 641,000, pre-tax profit of EUR 234,000, net profit for period of EUR 561,000 against total operating revenue and income of EUR 36,255,000, EBITDA of EUR 6,220,000, operating profit of EUR 2,008,000, pre-tax profit of EUR 1,832,000, net profit for period of EUR 1,634,000 a year ago. Cash flow from operations was EUR 3,948,000 against EUR 9,861,000 a year ago. For the year, the company reported total operating revenue and income of EUR 134,394,000, EBITDA of EUR 21,813,000, operating profit of EUR 7,920,000, pre-tax profit of EUR 6,219,000, net profit for period of EUR 4,196,000 against total operating revenue and income of EUR 153,615,000, EBITDA of EUR 30,092,000, operating profit of EUR 16,566,000, pre-tax profit of EUR 15,454,000, net profit for period of EUR 10,775,000 a year ago. Cash flow from operations was EUR 15,163,000 against EUR 22,439,000 a year ago. Net financial debt was EUR 23,796,000 against EUR 14,796,000 a year ago. For 2013, the Group believes that it will be able to register slightly improved levels of sales and profitability compared with 2012. The directors plan to offer the shareholders a dividend of EUR 0.35 per share against EUR 0.60 per share in 2011.