YTILINEOS Group is one of Greece’s
leading industrial groups whose op-
eration has marked the country’s develop-
ment. The Group owns a dynamic and
flexible business portfolio in Metallurgy &
Mining, Construction & EPC (Engineering –
Procurement – Construction) Projects, and
As a responsible industrial Group, we strive
for constant business excellence and for en-
suring the application of best practices, bal-
ancing economic growth with the protec-
tion of the environment and with social re-
sponsibility. We establish the products of
the Greek metallurgical industry around the
globe, we excel in the construction of large-
scale EPC energy projects in rapidly grow-
ing markets abroad, and we carry out pio-
neering investments that pave the way for
Greece's energy future and open up
prospects for society, businesses and the en-
2013 was one more year of recession for
Greece, during which the expensive energy
prices, the lack of liquidity, the increased
competition, the unstable taxation regime
and the excessive red tape dealt heavy
blows to the vision of a competitive, sus-
tainable Greek industry. At the same time,
the European economy is still confronted
with strong challenges and the risk of de-
flation, while outside Europe, the weakened
growth rates in emerging markets are
again causing concerns about the prospects
for global growth.
Metallurgy & Mining Sector
The average price of aluminium for 2013
stood at $1,845/tn down 8.6% from the pre-
vious year and posting a four-year low. On
the international level, market fundamentals
show improvement, as demand remained
strong while many loss-facing producers are
forced to lower production or even suspend
the operation of their less efficient plants.
In this juncture, we remained focused on the
implementation of the “MELLON” com-
petitiveness recovery programme in our
subsidiary ALUMINIUM S.A., which was
successfully completed in 2013. The im-
proved financial performance of the Group’s
Metallurgy sector compared to the previous
year demonstrates the great progress
achieved but leaves no room for compla-
Construction & EPC
Projects Sector
Despite the persevering challenges in the
domestic environment, our subsidiary
METKA S.A. remained on a positive course
throughout 2013, maintaining healthy
fundamentals and posting strong per-
formance levels in all areas. Through the
consistent implementation its strategy,
the Company continued to expand its in-
ternational portfolio of projects, consol-
idating its presence in the EPC market for
energy projects in the Mediterranean and
the Middle East. The successful completion
of several major projects in Pakistan, Ro-
mania, Turkey, Algeria and Jordan, totaling
3.5 GW of installed capacity, market sig-
naled METKA’s S.A. establishment as an in-
ternationally acknowledged and reliable
contractor for energy projects. The Com-
pany’s dynamic growth is reflected in the
financial results for 2013, which confirm its
Energy Sector
In the domestic energy market, de-
mand for electricity in 2013 continued
to be negatively affected by the weak
economic conditions and posted a
year-on-year decline of 3.7% from
2012. As regards production, Renew-
able Energy Sources (RES) based elec-
tricity production posts rapid growth
mainly from Photovoltaics, whose to-
tal installed capacity on 31 December
2013 exceeded 2,000 MW. The entry
into commercial operation of the
PROTERGIA S.A. plant in Ag. Nikolaos
(Viotia) and of the KORINTHOS
POWER S.A. plant in Ag. Theodoroi (Ko-
rinthia) in the last two years marked the
completion of the first phase of our 1.2
GW investment plan in thermal plants.
The Group has been established as the
second largest energy player after the
PPC, with a significant share of its
turnover and operational profitability
coming from the Energy sector.
Is ranked
in the Top
EPC contractors
for energy projects
in the world.
Is Greece’s
largest independent
electricity producer
and first-ever
private supplier
of natural gas.
Is the largest
vertically integrated
European Metallurgy
& Mining Group
in SE Europe.
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