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MYTILINEOS GROUP
SUSTAINABILITY REPORT 2011
50
MYTILINEOS HOLDINGS S.A. was established in 1990 and is headquartered in Athens. It is a holding company active through its subsidiaries in energy,
construction (EPC projects), production and trading of aluminium and alumina, and metallurgy in general.
The most important changes in the Company’s size, structure or ownership during 2011 were the following:
• In January 2011, MYTILINEOS HOLDINGS S.A. was selected to participate in the GLOBAL X ALUMINIUM ETF, as it controls ALUMINIUM S.A, one of Europe’s
largest vertically integrated Aluminium processing plants. This particular Exchange-Traded Fund (ETF), which is traded in the New York Stock Exchange, is an
open-end fund designed to monitor the performance of shares with significant activity in the global aluminium industry.
• In June 2011, MYTILINEOS HOLDINGS S.A. announced the entry into commercial operation of the Group’s 2nd power plant, with an installed capacity of 444
MW, in Ag. Nikolaos, Viotia.
• In November 2011, MYTILINEOS HOLDINGS S.A. announced the conclusion of a preliminary agreement for the gradual acquisition of the Bauxite Operations in
Greece of S&B INDUSTRIAL MINERALS S.A. by its wholly-owned subsidiary ALOUMINIUM S.A.. The finalisation of the financial terms and the implementation of
the agreed steps will take place after conclusion of the Due Diligence, which will include the financial, legal, tax and technical audit of the merging companies.
• In June 2011, the Management of the Company decided to proceed with the sale of 100% of the stake it held its subsidiary DELPHI-DISTOMON S.A. to its
wholly-owned subsidiary ALUMINIUM S.A. for a price of €23.2 million, realising a profit of €4 million from this sale.
Economic Value Table
2009
2010
2011
Turnover (€)
19,512,000
6,000,000
6,173,000
Economic value created
19,512,000
6,000,000
6,173,000
Operating costs (€)
19,498,000
11,801,000
6,001,000
Employee salaries and benefits (€)
7,264,000
6,858,000
6,136,497
Payment of income tax & other taxes (€)
1,113,000
2,335,000
514,286
Payments to capital providers (€)
10,019,000
0
0
Investments in local communities (€)
734,379
829,975
388,320
Economic value distributed
38,628,379
21,823,975
13,040,103
Economic value distributed
198.0%
363.7%
211.2%
Economic value retained
-98.0%
-263.7%
-111.2%
Key financial figures
