Annual Financial Report for the period from 1st of January to the 31st of December 2012
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(a) 25% for solar power plants put to trial operation or their link was energized by 31.12.2011
(b) 30% for Solar Power plants put to trial operation or their link was energized after 1.1.2012 and compen-
sation for energy generated is calculated according to the reference price of the schedule set out in article
27Α , Law 3734/2009, as applicable each time, corresponding to a month earlier than February 2012
(c) 27% for Solar Power plants put to trial operation or their link was energized after 1.1.2012 and compen-
sation for energy generated is calculated according to the reference price of the schedule set out in article
27Α , Law 3734/2009, as applicable each time, corresponding to the period between February 2012 and
August 9, 2012
(d) 10% for other RES plants as well as for HECHP plants
• December 2012 saw the beginning of the arbitration procedure between subsidiary Aluminium S.A. and PPC
which is currently in progress, as both parties have submitted their claims through Applications Memoranda
dated 21.12.2012, followed by their Responses dated 1.2.2013 on opposing claims. Furthermore, the Court of
Arbitration has designated a date of hearing of claims by both parties and examination of the first witness on
part of the Company on 02.04.2013. In the months to follow, completion of the arbitration procedure and issu-
ance of decision are anticipated.
• The Ministry of Environment, Energy & Climate Change issued a decision on 17/1/2013 for licensing the
commercial service of the electric power / heat cogeneration plant of Aluminium S.A. As of 28/11/2012, the
plant in question was already in « trial operation » status as Distributed High Performance Electric Power /
Heat Cogeneration Plant (trial operation of Distributed HPEPHC) by the market operator, after having signed
a supplementary transaction contract, and ensuring the proportional estimation and billing of electric power
infused to the grid.
ΙΙΙ. Prospects for the forthcoming year (2013)
Metallurgy and Mining Sector
In the Metallurgy Sector, the rate of increase of aluminum demand at global level is expected to accelerate
in 2013; this development will drive the increase in aluminum prices. However, in early 2013 and despite the
new highs observed for Premia, aluminum values at LME varied again below the 2.000 $/tn threshold and this
poses persistent challenges to producers.
The developments regarding the European Debt Crisis; the cost of energy; the trend in US dollar value; and the
monetary policy to be adopted by Central Banks are expected to be the main factors determining the evolution
of the sector in the forthcoming period. The persistent high prices in the oil market, in particular, largely re-
lated to geopolitical factors such as the continuing instability in the Arab World, intensify the pressure on costs.
Given this international framework and the unbearable domestic situation which is dictated by excessive tax
burdens and limited liquidity, the full implementation of the ‘MELLON’ program is a key priority and a prereq-
uisite for maintaining competitiveness and for improving financial performance in the Metallurgy Sector.
ΕPC Sector
The implementation of the signed work backlog, amounting to 1.7 billion euro, is expected to continue in 2013, as
projects in foreign markets are now going through a mature phase.
In 2013, METKA is expected to continue on a steady course, recording satisfactory performance for another year,
leveraging the signed backlog, as well as projects awarded in the new markets of Algeria and Jordan.
In the imminent period, ΜΕΤΚΑ will focus on the successful performance of abroad contracts and the pursuit of
new projects in excellent or new markets so as to increase its share in Energy Infrastructure Projects in Europe;
Turkey; North Africa; and the Middle East.
