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OF ELECTRICAL POWER S.A, a wholly-owned subsidiary of PROTERGIA PRODUCTION AND TRADE OF
ELECTRICAL POWER S.A., has issued a corresponding €104 million syndicated debenture loan through which
refinancing of the Company’s current loan obligations occurred. Both these loans have been issued for a term
of three (3) years with an option for extension for an additional period of two (2) years, up to a total of five (5)
years. PROTERGIA THERMAL – AGIOS NIKOLAOS PRODUCTION AND TRADE OF ELECTRICAL POWER S.A. will
accept –as a result of breaking up and contribution– the branch of PROTERGIA PRODUCTION AND TRADE OF
ELECTRICAL POWER S.A. active in the production of power from the thermal power plant, with 31.08.2013 set
as the date of the transformation accounting statement.
In November, MYTILINEOS HOLDINGS S.A. announced that it had successfully completed an offering
of 3,217,288 existing shares in METKA S.A. generating total proceeds of c. EUR40.2 million, by way of an
international private placement to institutional investors as part of an accelerated bookbuilding process
Following the transaction, MYTILINEOS HOLDINGS S.A. holds 50.0% + 1 Share of METKA’S S.A. share capital.
ΙΙΙ PROSPECTS – RISKS AND UNCERTAINTIES FOR THE YEAR AHEAD
Metallurgy and Mining Sector
In the Metallurgy sector, the growth rate of global aluminium demand is expected to accelerate during 2014,
thus helping support aluminium prices. Nevertheless, during the first quarter of 2014, despite the new record-
high premia, aluminium prices in the LME stood again at levels below $1,800/tn, posing significant challenges
for producers.
The developments regarding the performance of emerging economies and especially of the Chinese economy,
the high energy costs and the evolution of the Euro/USD parity, together with the monetary policy to be adopted
by the Central Banks, are expected to be the key factors that will determine the developments in the sector in
the months to come.
Given this situation in the international environment and the adverse conditions in the domestic environment,
the full implementation and further expansion of the objectives of the “MELLON” Programme is a necessary
condition for boosting the competitiveness of the Group’s Metallurgy Sector and for improving its financial
performance.
EPC Sector
Implementation of the signed backlog, currently standing at €1.7 billion, is expected to continue during 2014.
For METKA, 2014 is starting off to positive prospects of being yet another year of very satisfactory results, driven
mainly by the projects it has been awarded in the markets of Algeria, Jordan and Iraq, although implementation
of the company’s second project in Syria is also advancing, despite local difficulties.
For the immediate future, METKA will focus on ensuring the successful implementation of its contracts abroad
and on competing for new projects in existing as well as in new markets, in order to expand its share of the
market for energy infrastructure projects in Europe, Turkey, N. Africa and the Middle East.
