MYTILINEOS HOLDINGS - SUSTAINABILITY REPORT 2013 - page 11

9
D
riven by our desire for continuous de-
velopment and progress and seeking to
always be at the forefront of developments,
as we have always done in the course of our
long history, we consistently pursue our vi-
sion to become a strong and competitive Eu-
ropean heavy industry group. In a constant-
ly changing economic environment, main-
taining high liquidity and mitigating financial
risk are key to ensuring the smooth continu-
ation of investments in all our activity sectors.
Drawing on our highly qualified human re-
sources, significant assets and financial ro-
bustness, we aim to achieve a steady organ-
ic growth in the wider region of SE Europe, N.
Africa and the Middle East, and we focus on
consolidating the significant synergies avail-
able between our core activity sectors, seek-
ing in this way to ensure their balanced de-
velopment. In parallel with our investment
plan, we develop methods to curtail costs and
we exploit the capabilities of sophisticated
risk-hedging tools and techniques to optimise
our economic performance in the coming
years.
Our Group’s strategy focuses on the following
three key priorities:
Α.
To pursue regional leadership position in
all three key activity sectors.
Β.
To secure operational synergies.
C.
To create value for our Stakeholder
groups.
Our core development goal is “To exploit the
opportunities opening up through the liber-
alization of the energy market” in Greece. We
are currently holding a dominant position in
the Greek market, as the country’s largest elec-
tricity producer after the PPC. With persistence
and a clear focus on concrete targets, we car-
ried out an energy investment plan in excess
of €1 billion during the last few years, man-
aging to overcome business and as well as reg-
ulatory difficulties in the process. Today, these
efforts are rewarded, as a substantial part of
our total turnover and operating profits are
coming from our activities in the Energy sec-
tor.
In addition, the goals of “Seeking new verti-
cal integration projects or projects for ex-
panding metallurgy operations” and of “In-
creasing competitiveness through strategic in-
vestments and Risk-Hedging methods” show
the Group’s orientation in the Metallurgy sec-
tor, while the focus on “ Utilising the signif-
icant industrial know-how and infrastruc-
ture” and on “Maintaining the Group’s lead-
ing role in energy projects in Greece and its
activities abroad” is indicative of our strate-
gic priorities in the Construction & EPC Proj-
ects sector.
SIGNIFICANT FINANCIAL ASSISTANCE* RECEIVED
FROM GOVERNMENT
Tax exemptions / credits (€)
Subsidies (€)
*
Investment, research and technology subsidies
and other relevant types of subsidies (€)
2011
15,200
4,816,149
133,739
2012
0
436,841
0
2013
0
181,813
7,024,872
3.2 STRATEGY & KEY ECONOMIC VALUE DATA
*
During the fiscal year 2013, ALUMINIUM S.A. received the following subsidies: (a) €6 million for the operation of its Combined Heat and Power (CHP) plant, (b)
€1 million for the EXENAL Project on the utilisation of bauxite residues in the production of steel and stone wool and (c) €181,813 as training programmes sub-
sidy from the Manpower Employment Organisation (OAED).
ECONOMIC VALUE TABLE
Economic value created
Turnover (€)
Economic value distributed
Operating costs (€)
Employee salaries and benefits (€)
Payment of income tax & other taxes (€)
Payments to capital providers (€)
Investments in local communities (€)
Total (€)
% of economic value distributed
% of economic value retained
2012
1,453,635,665
1,355,008,786
82,131,707
32,942,394
54,263,639
741,607
1,623,715,012
111.7%
-11.7%
2013
1,402,953,706
1,241,216,337
94,052,819
44,220,736
8,357,870
757,134
1,388,604,896
99%
1%
2011
1,570,998,231
1,394,182,732
92,019,145
67,666,347
30,208,942
1,221,835
1,585,299,001
100.9%
-0.9%
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