Annual Financial Report for the period from1st of January to the 31st of December 2013
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The average price of aluminium for 2013 stood at $1,845/tn, down 8.6% from the previous year and posting a
four-year low.
The negative developments regarding the performance of emerging economies and especially of the Chinese
economy, impacted negatively on aluminium prices, which continued to move negatively during the second half
of 2013. In contrast to LME prices, premia are posting all-time highs, reflecting the shortage of metal directly
available for use. The market’s fundamentals show improvement, as demand remained strong while at the
same time many loss-facing producers are forced to lower production or even suspend the operation of their
less efficient plants.
In this juncture, the Group remained focused on the implementation of the “MELLON” competitiveness recovery
programme, which was successfully completed in 2013. The improved financial performance of the Group’s
Metallurgy Sector compared to the previous year demonstrates the great progress achieved but leaves no
room for complacency.
EPC Sector (Construction)
Despite the persevering challenges in the local environment, MEKTA followed a positive course throughout
2013, maintaining healthy fundamentals and achieving strong performance in all areas.
Through the consistent implementation of a solid business strategy, the company continued to expand its
international portfolio, consolidating its presence in the EPC market of the Mediterranean and Middle East
regions. The successful completion of a series of large-scale projects in Pakistan, Romania, Turkey, Algeria
and Jordan, with a total capacity of 3.5 GW signified METKA’s establishment as a credible and internationally
acknowledged constructor of energy projects.
The METKA’s company strong performance and resilience is reflected in the financial results of 2013. More
specifically, the METKA’s Group turnover for 2013 reached € 606,5 million compared to last year’s € 547,5
million, while the METKA’s Company turnover for the same period mounted to € 404,4 million compared to last
year’s € 327,9 million.
The main factors which contributed to the METKA’s Group above course are :
a) Τhe “CONSTRUCTION OF A POWER PLANT STATION OF 1250 MW» in Iraq, with a contractual value of
$401,2 million which in the period under review recorded a turnover of € 147,92 million.
b) The «Engineering, Procurement, Construction and commissioning of 24 mobile Generators of 481,7 MW
» in Algeria, with a contractual value of $211 million and DZD 72 million which in the period under review
recorded a turnover of € 133,2 million.
c) The continuation of the project “CONSTRUCTION OF A POWER PLANT STATION OF 700 MW” in Syria (Deir
Ali), with a contractual value of € 673 million which in the period under review recorded a turnover of € 68
million.
d) The «Construction and commissioning of a 143 MW power plant» in Jordan, with a contractual value of $
143 million and 11 million JOD, which in the period under review recorded a turnover of € 48 million.
e) The «Construction and commissioning of a 724 MW power plant» in Deir Azzour of Syria, with a contractual
value of € 687 million, which in the period under review recorded a turnover of €47,2 million.
f) The continuation of the project “CONSTRUCTION OF A POWER PLANT STATION OF 775 MW” in Denizli,
Turkey, with a contractual value of € 479 million which in the period under review recorded a turnover of €
36,8 million and
