Siderúrgica Venezolana SIVENSA SA reported consolidated earnings results for the two months and eight months period ended May 31, 2014. For the two months, the company had an operating loss of VEB 8.56 million compared to operating income of VEB 37.56 million in the same period during 2013. The negative variation of VEB 46.12 million is mainly due to the decrease in ‘Other operating income, net' in VEB 44.81 million. The decrease in this item during the analyzed period is due primarily to profits from the sale a plot of land during the two months of the previous fiscal year April-May 2013. During the two month period, loss before tax was VEB 23.91 million compared to income before tax of VEB 6.92 million in the same period last year. This negative variation of VEB 30.83 million is mainly explained by, the loss in operations during the period mentioned in the previous paragraph, and the negative variation of VEB 7.09 million of interest and other financing expenses net; these negative movements were partially offset by the decrease of VEB 18.52 million in monetary loss for the period April-May 2014 compared with the same period of 2013. Net loss from continuing operations was VEB 23.88 million compared to net income from continuing operations of VEB 8.75 million in the same period last fiscal year. This negative variation of VEB 32.63 million during the period is mainly due to the loss before tax. Net loss for the period attributable to the company from continued operations was VEB 20,883,000 compared to net income for the period attributable to the company from continued operations of VEB 10,590,000 a year ago. Net loss for the period attributable to the company was VEB 23,877,000 compared to net income for the period attributable to the company of VEB 18,634,000 a year ago.

For the eight months, the company's operating loss was VEB 14,818,000 compared to VEB 26.209,000 a year ago. Loss before income tax was VEB 79.938,000 compared to VEB 255.380,000 a year ago. Net loss for the period attributable to the company from continued operations was VEB 74,698,000 compared to VEB 250,606,000 a year ago. Net loss for the period attributable to the company from continued operations was VEB 79,835,000 compared to VEB 133,982,000 a year ago. Negative return over assets was 0.21% compared to 1.31% a year ago. Negative return over equity was 0.32% compared to 1.92% a year ago.