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Independent Auditor’s Report
Independent Auditor’s Report
Report on Review of Interim Financial Information
To the Shareholders of MYTILINEOS HOLDINGS S.A.
Introduction
We have reviewed the accompanying separate and consolidated
condensed statement of financial position of MYTILINEOS HOLD-
INGS S.A. as of 30 June 2016 and the related separate and consoli-
dated condensed statement of comprehensive income, changes in
equity and cash flows for the six-month period then ended, and the
selected explanatory notes that comprise the interim financial infor-
mation, which form an integral part of the six-month financial report
of Law 3556/2007. Management is responsible for the preparation
and fair presentation of this interim condensed financial statement in
accordance with the International Financial Reporting Standards as
adopted by the European Union and apply for interim financial infor-
mation (International Accounting Standard “IAS 34”). Our responsibil-
ity is to express a conclusion on these interim condensed financial
statements based on our review.
Scope of Review
We conducted our review in accordance with International Standard
on Review Engagements 2410, “Review of Interim Financial Informa-
tion Performed by the Independent Auditor of the Entity”. A review of
interim financial information consists of making inquiries, primarily of
persons responsible for financial and accounting matters, and apply-
ing analytical and other review procedures. A review is substantially
less in scope than an audit conducted in accordance with Interna-
tional Standards on Auditing and consequently does not enable us
to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not
express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention
that causes us to believe that the accompanying interim
financial information has not been prepared in all material
respects, in accordance to IAS 34.
Emphasis of matters
We would like to draw your attention to note 8.17 of the
condensed interim financial statements, where it is dis-
closed that Group’s subsidiary company ALUMINIUM OF
GREECE and its supplier PPC, have not yet reached to an
agreement for the pricing of electricity for the term begin-
ning on 1st January 2014 and onwards. The finalization
of the negotiations between the two parties may result in
ALUMINIUM recognizing assets or liabilities the amount of
which currently cannot be measured reliably.
We have not qualified our opinion for the above mentioned
matter.
Reference to other legal requirements
Based on our review, we concluded that the content of
the six-month financial report, as required by article 5 of
L.3556/2007, is consistent with the accompanying con-
densed interim financial information.
Athens, 2
nd
August 2016
The Chartered Accountants
Manolis Mihalios
SOEL Reg. No. 25131
Thanasis Xynas
SOEL Reg. No. 34081
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