Noteworthy developments in the energy sector also include those in
the natural gas market, as the initial opening up of the market in August
allowed M&M Gas to start on its sales to industrial customers, a segment
in which the company has already successfully expanded its share and list
of clients, aiming to establish itself as a key player in natural gas trading in
Greece and in neighbouring countries.
METKA, during the previous year, remained true to the extrovert profile
it has established, proving for yet another year that it rightfully ranks as
one of the top EPC contractors worldwide. Additional proof of this is the
company’s success in securing and implementing a new energy project
in Ghana, a success showcasing its dynamic entry in the developing
energy market of sub-Saharan Africa. At the same time, the company is
carefully planning its next moves in the Iranian market, taking advantage
of the opportunities opening up after the country's long-time embargo
was lifted. Furthermore, the diversification of METKA’s portfolio with the
establishment of a new subsidiary, METKA EGN, in partnership with the
EGNATIA Group, has the company well-placed to compete for a leading
position in the global photovoltaics industry. The new subsidiary has
already been awarded the design, procurement and construction of seven
solar power plants using PV technologies.
Yet the identity of MYTILINEOS Group is not defined by entrepreneurship
alone, but combines, in a dynamic manner, business growth with social
responsibility, which essentially translates into our everyday effort to create
added value for the society and for the national economy. In 2015, we
placed children and young people, who are among the groups affected
by the crisis, at the very centre of our social initiatives. In this line, we
implemented the 12-month salaried employment programme “Engineers
in Action”, providing 11 young engineers with the opportunity to work for
one year in AoG and gain valuable experience for their future careers.
Indeed, after the programme was successfully concluded, two of these
young engineers were engaged by AoG, joining the company’s permanent
workforce. Building on the success of this programme, the Group has
already moved ahead with a new initiative, “NEW ENGINEERS IN ACTION”,
which was recently launched.
In 2015, MYTILINEOS Group also worked with the Association “TOGETHER
FOR CHILDREN” to address the school dropout phenomenon. The result
of this collaboration was the programme “I’m In!”, designed to reduce
the likelihood of children dropping out of school before they finish their
compulsory education.
2015 was a particularly difficult year, during which Greece had to face
critical choices against a fluid and turbulent environment, both domestically
and internationally, with persisting considerable economic and business
challenges. MYTILINEOS Group, based in Greece and remaining fully
committed to its strategic choice for extroversion, continued to grow,
strengthening its position and multinational character as well as the Greek
economy.
in 2015 the Group strengthened throughout all its business activity areas
– metallurgy, construction and energy – responding successfully to the
challenges, as a result of its resilient and strong profile.
Despite the feeble internal economic environment, the global crisis in the
commodities markets and the delays in the implementation of investments
in new energy projects, as a result of geopolitical developments in various
markets, the Group posted positive results and improved its turnover and
liquidity, by focusing on cost controls, investments and competitiveness. Thus,
it managed to successfully absorb the pressures of the current economic
conditions and the repeated delays in the completion of the country's energy
and industrial policy.
ALUMINIUM OF GREECE (AoG) continued on its long and historic course,
in spite of the suffocating conditions brought about by the global crisis in
the commodities markets, which is hitting hard on mines and smelters
around the globe. Against this background, the Group gave priority to further
shielding the company through the “Excellence” programme, which focuses
on further reducing production costs and stepping up the pace of related
investments (a total of
€
30 million of investments currently in their completion
stages) aiming to shield the international business profile and strengthen
the competitiveness of ALUMINIUM OF GREECE. Upon completion of the
“Excellence” programme, ALUMINIUM OF GREECE will have achieved
cost levels which will be competitive on a global level, sustaining the strong
potential of this historic industry.
After its dynamic entry in the retail market, Protergia remains firmly in place
as the largest independent electricity producer. Despite the delays in the
completion of the domestic energy policy, in 2015 Protergia expanded its
market share, with the company's competitive charges and innovative
services spearheading this effort. Given the prospects that emerge as a
result of the drop in natural gas prices and the anticipated liberalisation of
the market for electricity, Protergia is ideally placed to claim a leading market
position.
Message from the Chairman
Evangelos G. Mytilineos
Chairman & CEO
of MYTILINEOS Group
03
02
Overall, 2015 was a year of major
challenges. In MYTILINEOS Group,
together with our people – our more than
2,700 employees, our shareholders and
our business partners – we proved that
we face adverse conditions by working
as a team. With consistency, continuity,
lasting strength and – above all – faith
in our abilities, we keep on working to
constantly improve our performance in
all our business activity areas. With a
strategy aimed at shielding the Group at
all levels, we continue to consolidate our
role as a driver for growth, both in Greece
and abroad.
€
1.38
bn.
Turnover
€
963.4
mio.
Exports
€
164.8
thousands.
Economic Value Added
€
65.4
mio.
Fixed asset investments
€
64.3
mio.
Income tax & other taxes
€
87.2
mio.
Employee salaries & benefits
Annual Financial Repor t 2015
