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2016
Integrated Value creation

Scorecard

According to the two fundamental concepts («The Capitals» & «Value Creation for the organisation & others») of the International Integrated Reporting Council (IIRC) Guidelines.

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DISCLAIMER

All data and information displayed in the SCORECARD are in compliance with the GRI Sustainability Reporting G4 Guidelines, while the structure of their presentation was designed according to the two main elements of the International Integrated Reporting Council (IIRC) Guidelines: 'The Capitals' and ' The Value Creation for the others' organisation. The displayed data may change without prior notice.

MYTILINEOS S.A. accepts no responsibility for the payment of compensations or for any other claims which may arise in connection with the use of the information contained in the SCORECARD. All visitors to the website acknowledge that access to and use of the SCORECARD takes place on their own responsibility. The SCORECARD serves as a communication tool and under no circumstances should it replace the Company's Sustainability & Annual Reports.

Profile

MYTILINEOS is one of Greece’s largest industrial companies with a long track record of successful international growth in the sectors of Metallurgy & Mining, EPC (Engineering - Procurement - Construction) Projects and Energy. As a responsible industrial Company, MYTILINEOS Company strives for constant business excellence, balancing economic growth with sustainable development. Today, the Company stands out for its unique and modern employment model, its active social profile, the innovative mechanisms it adopts for business growth, its strategic investments in leading-edge solutions to modernise operations and the successful consolidation of its presence in the global markets. In 2016, MYTILINEOS proceeded with the strategic merger of all Company subsidiaries under a single umbrella, in a move that demonstrates its continuous efforts for business progress, evolution and growth.

ACTIVITY SECTORS

  • Metallurgy & Mining Sector
  • EPC Projects Sector
  • Energy Sector

INDUSTRIAL AND RENEWABLE ENERGY SOURCES PLANTS

EMPLOYEES

(Direct & Indirect)

SUPPLIERS

(Domestic & Abroad)

COUNTRIES OF OPERATION

Financial capital

MYTILINEOS uses its financial resources at the most aiming to create added value for its shareholders and investors. The Company’s policy is to monitor its performance on a month to month basis thus tracking on time and effectively any deviations from its goals and undertaking corrective actions. The Company evaluates its financial performance using international Key Performance Indicators (KPI’s).

Use of
Financial capital

  • Cash flows from operating activities and investments
  • Total Equity
  • Loans

Outputs

TURNOVER

9.9%
  • €1,246 m (2016)
  • €1,383 m (2015)
  • €1,232 m (2014)

OPERATING COSTS

9.6%
  • €1,014.7 m (2016)
  • €1,122.0 m (2015)
  • €965.8 m (2014)

NET DEBT / EBITDA

2.8

EBITDA

5.1%
  • €222.4 m (2016)
  • €234.4 m (2015)
  • €253.9 m (2014)

NET PROFITS

28.2%
  • €34.2 m (2016)
  • €47.6 m (2015)
  • €64.9 m (2014)

EARNINGS PER SHARE

€0.29

Generated Value

RETURN ON
EQUITY

32.2%

ECONOMIC VALUE
ADDED (k)

38.5%

EBITDA MARGIN

5.3%

RETURN ON CAPITAL
EMPLOYED

12.3%

PAYMENTS TO CAPITAL
PROVIDERS (m)

20.3%

Industrial capital

MYTILINEOS with a business activity including one of Europe’s most modern vertically integrated Alumina & Aluminium production plants, a high added value manufacturing base, which involves the use of sophisticated computer controlled machining equipment and high quality fabrication capabilities in the EPC Projects sector, and the achievement of the high performance rates of its thermal power plants operation, via the optimum use of natural gas as their primary fuel, applies innovative production processes, focusing on quality control, operational improvement, health & safety and the environmental footprint of each finished product or integrated construction project it undertakes.

Use of
Industrial capital

  • 25Industrial production &
    Renewable Energy Sources
    (RES) plants
    • 1 bauxite mining plant.
    • 1 alumina production plant.
    • 1 aluminum production plant.
    • 1 plant of machining, welding/fabrication, assembly, sand blasting and painting works.
    • 1 plant which focuses at the cutting, formation (bending and rolling) and tracing of plates and sections.
    • 1 High Efficiency Combined Heat and Power Plant of primary electricity production (334 MW).
    • 2 Gas-fired Combined Cycle Thermal Power Plants of primary electricity production (881.08 MW).
    • 17 RES plants (10 Wind Farms, 3 Photovoltaic Parks & 4 Small Hydropower Plants).

Outputs

BAUXITE
PRODUCTION

3.1%
  • 630 k tn (2016)
  • 650 k tn (2015)
  • 633 k tn (2014)

ALUMINIUM
PRODUCTION

0.6%
  • 181 k tn (2016)
  • 180 k tn (2015)
  • 173 k tn (2014)

RES PLANTS IN DIFFERENT STAGES OF DEVELOPMENT1

4.8%
  • 95 MW (2016)
  • 99.6 MW (2015)

ENERGY & INFRASTRUCTURE PROJECTS IN PROGRESS

8 (2016)

ALUMINA
PRODUCTION

1.7%
  • 821 k tn (2016)
  • 807 k tn (2015)
  • 813 k tn (2014)

ELECTRICITY POWER PRODUCTION

66.2%
  • 17,381.9 TJ (2016)
  • 10,457.8 TJ (2015)
  • 8,361.9 TJ (2014)

RES PLANTS IN OPERATION

48.1%
  • 130 MW (2016)
  • 6.5 MW (2015)
1 with installation license and in production.

Generated value

TOTAL EXPORTS (m)

33.8%

ALUMINIUM PRODUCTS
SALES (k tn)

2.7%

RES ELECTRICITY
(generated and sold in TJ)

73.3%

MARKET SHARE* IN
THE RETAIL ENERGY
MARKET

163.7%

FIXED ASSET
INVESTMENTS (m)

40.2%

ELECTRICITY SOLD (TJ)

73.3%

EPC PROJECTS SIGNED
BACKLOG (m)

13.3%
*Electricity Market Operator official data (31-12-2016)

Natural capital

The business strategy of MYTILINEOS is inextricably linked to sustainable growth in the long-term. In line with this view, the Company regularly applies practices aimed at ensuring the continuous improvement of its environmental performance. Through investments that take advantage of technological advances, as well as through employee training, the development of Best Available Techniques, the change in the use of fuels and the setting of annual environmental targets, is gradually stabilising the impacts of its activity on the natural environment. To this end, the Company also implements environmental protection and industrial hazard control policies that are supported by a structured system of Environmental Management practices and methods certified in accordance with the ISO 140001 and ISO 14064 International Standards in 100% and 33% of its business units, respectively. In this respect, a uniform system for information collection and reporting, environmental impact assessments and target-setting for continuous improvement is applied in all related activities of the Company.

Use of
Natural capital

  • Raw & other materials
  • Land use
  • Water (withdrawal & consumption)
  • Air
  • Biodiversity




Research & Innovation
(Bauxite Residues Utilization)

2016: Launch of the European “SCALE” program, coordinated by ALUMINIUM OF GREECE, which is related to the development of technologies for the extraction of rare earths (in particular the Scandium element) from the Bauxite Residues.
2016: ALUMINIUM OF GREECE become a member of the “Innovation Hub”, a European Aluminum Association (NCA) research and innovation platform.
2015: The ALUMINIUM OF GREECE participates in the “European Training Network for Zero-Waste Valorisation of Bauxite Residue (Red Mud-Marie Currie)” with two PhD candidates.
2010-2014: The ALUMINIUM OF GREECE coordinated the European research program “ENEXAL”, in which the complete conversion of the Bauxite Residues to cast iron and stone wool is achieved.

Outputs

RAW MATERIALS CONSUMPTION
(dry basis)1

1.8%
  • 2.22 m tn (2016)
  • 2.18 m tn (2015)
  • 2.16 m tn (2014)

ENERGY
CONSUMPTION2

37.2%
  • 49,323.0 TJ (2016)
  • 35,954.6 TJ (2015)
  • 31,835.7 TJ (2014)

SOLID WASTE

21.6%
  • 799.4 k tn (2016)
  • 780.9 k tn (2015)
  • 794.9 k tn (2014)

WATER DISCHARGES

22.6%
  • 124,1 m m3 (2016)
  • 160,4 m m3 (2015)
  • 162,3 m m3 (2014)

OTHER MATERIAL CONSUMPTION

1.1%
  • 243.4 k tn (2016)
  • 240.7 k tn (2015)
  • 237.2 k tn (2014)

CO2 emissions
(Scope 1 & 2)

15.0%
  • 4.6 m tn (2015)
  • 4.0 m tn (2014)
  • 3.8 m tn (2014)

WATER WITHDRAWALS

21.6%
  • 129.1 m m3 (2016)
  • 164.8 m m3 (2015)
  • 166.1 m m3 (2014)

LAND USED BY THE MINING OPERATION AT THE END OF THE YEAR

7.1%
  • 130 acres (2016)
  • 140 acres (2015)
  • 146 acres (2014)
1 Ιn Metallurgy Sector, where used all the indicated quantities, the aluminium production process makes no use of recycled materials or alternative raw materials, i.e. Byproducts and waste disposals from other industries, so as to allow any reductions in the consumption of raw materials. 2 Total energy consumption = Energy consumption from Non-renewable sources + Energy consumption from Renewable sources + Energy purchased for consumption + Energy produced - Energy sold

Generated value

ENVIRONMENTAL
EXPENDITURES (m)

147.0%

SOLID WASTE
RECYCLED (k tn)

11.1%

DRINKING WATER WITHDRAWAL FOR THE LOCAL COMMUNITIES WATER SUPPLY NEEDS (k m3)

12.2%

DUST EMISSIONS (tn)

30.3%

PFCs EMISSIONS
(k tn eq CO2)3

34.0%

TOTAL WATER
CONSUMPTION (mio m3)

8.7%

SAVING WATER IN
PRODUCTION PROCESS
(m m3)

22.2%

REHABILIATION RATE
OF USED LAND

3 Perfluorocarbons (CF4 & C2F6) are gases that contribute significantly to global warming. To illustrate this, suffice to mention that 1 ton of CF4 is equivalent to 7,390 tons of CO2, while 1 ton of C2F6 is equivalent to 12,200 tons of CO2.

The Company expanded its participation in international initiatives on sustainable development, by participating for the first time, on a voluntary basis, in the water resources management programme of the Carbon Disclosure Project (CDP) global sustainable development initiative (June 2016). In accordance with the results of its evaluation, MYTILINEOS was given a “LEVEL B” ranking (the second best one), as it was found to record the impact of its activity on water, to have in place a concrete policy with clear targets, and to take specific actions in line with rational water management and use.

Human capital

As one of Greece’s largest Heavy Industries Companies, MYTILINEOS provides more than 2,800 direct and indirect jobs, creating a work environment characterised by job security, equality and stability. The maintenance of the peace and the health & safety at workplace as well as the continuous investment in labor skills and competences development are fundamental commitments of the MYTILINEOS that confirm its intention to build long-term relationships with its people.

Use of
Human capital

  • 2,817employees
    (direct & indirect)
    • 1,746 employees at the Metallurgy & Mining sector
    • 702 employees at the EPC Projects sector
    • 269 employees at the Energy sector
    • 82 employees at the Company’s Corporate Centre
  • Employees abilities and capabilities

Outputs

NUMBER OF FATALITIES (direct employees)

0%
  • 0 (2016)
  • 0 (2015)
  • 0 (2014)

NUMBER OF OCCUPATIONAL
DISEASES

0%
  • 0 (2016)
  • 0 (2015)
  • 0 (2014)

PERCENTAGE OF EMPLOYEES WHO RECEIVED A PERFORMANCE REVIEW

5.3%
  • 91.1% (2016)
  • 86.5% (2015)
  • 80.0% (2014)

FULL TIME EMPLOYEES RETENTION RATE

4.8%
  • 95.6% (2016)
  • 91.2% (2015)

NUMBER OF INJURIES (direct employees)

25,0%
  • 5 (2016)
  • 4 (2015)
  • 4 (2014)

TOTAL TRAINING
MAN - HOURS

6.0%
  • 53,122 (2016)
  • 56,540 (2015)
  • 53,995 (2014)

PERSONNEL TURNOVER RATE

20.0%
  • 14% (2016)
  • 17.5% (2015)
  • 13.7% (2014)

HELTH & SAFETY MAN-HOURS TRAINING

1,4
  • 27.878 (2016)
  • 28.270 (2015)

Generated value

EMPLOYEES SALARIES & BENEFITS (m)

0.6%

TOTAL EMPLOYEES TRAINING COST (k)

12,8%

TRAINING COST / EMPLOYEE

19.8%

PERCENTAGE OF WOMEN
IN MANAGEMENT

11.7%

PERCENTAGE OF EMPLOYEES COVERED BY COLLECTIVE BARGAINING AGREEMENTS

3.9%

INJURIES FREQUENCY / 200.000 WORKING HOURS

23.5%

AVERAGE TRAINING HOURS / EMPLOYEE

10.1%

PERCENTAGE OF WOMEN IN THE WORKFORCE

8.9%

PERCENTAGE OF YOUNG EMPLOYEES <30 YEARS OLD

8.2%

PERCENTAGE OF EMPLOYEES WHO RETURNED TO WORK AFTER PARENTAL LEAVE1

1,1%
1 Leave granted to men and women employees on the grounds of the birth of a child.

Social Capital

From its establishment to this day, the history of MYTILINEOS has been interwoven with the economic growth of Greece and especially of the Greek region. The continuous development of its collaboration with the local communities, where the Company has an active presence, works as a catalyst for the implementation of its social initiatives and actions. In all cases, the Company remains unequivocally committed to understanding and responding to the local concerns through the open dialogue processes that it follows and, through mutual efforts, to build partnerships that yield multiple benefits, create added value and strengthen social cohesion.

Use of
Social capital

  • Stakeholders Relations
  • Social Contribution Program
  • Disclosure Policy
  • MYTILINEOS’s Reputation
  • Social Programs Implementation
    • “Ι’Μ ΙΝ”: A social, innovative program designed for high school students. Its main objective is to combat the school drop-out phenomenon.
    • “ENGINEERS IN ACTION II” : A 12-month salaried employment program aiming at young talented engineers to enhance their skills and to offer the required experience and know-how for easier integration into the labor market.
    • “YOUNG GENERATION IN ACTION” : A 12-month salaried employment program, aiming to offer an access point to young people, who at the moment are outside the labour market, and to open up career prospects, providing them with a strong incentive to stay in our country.

Outputs

Percentage Breakdown Of
Social Contribution

Annual Engagement
process with Stakeholders:

In June 2016, in the context of the World Environment Day celebrations, ALUMINIUM OF GREECE (AoG) organised with great success its second annual thematic dialogue with its Stakeholder groups, with the title “We Talk about the Environment”. The aim of this initiative was to provide the company’s Stakeholders with substantial information, as part of its efforts for the continuous and responsible management of environment-related matters, over and above its compliance with the statutory rules and regulations and with the standards it follows in its operations.

In 2016, Protergia proceeded with the implementation of an e-dialogue with the participation of 191 people from all its Stakeholders groups on its Social Impact and Performance. The main objective of the company was to evaluate its existing initiatives and to receive expectations or proposals on behalf of its Stakeholders to further improve its social performance.

Generated value

NEW JOBS

51.5%

SOCIAL CONTRIBUTION EXPENSES (m)

28.3%

PERCENTAGE OF EMPLOYEES FROM LOCAL COMMUNITIES

2.0%

ENTREPRENEURSHIP
SUPPORTED INITIATIVES

9.1%

PAYMENT OF INCOME TAX
& OTHER TAXES (m)

14.6%

INVESTMENTS IN
INFRASTRUCTURE OF
LOCAL COMMUNITIES (k)

69.0%

EXPENDITURES TO GREEK SUPPLIERS (m)

6.6%

RESPONSE RATE TO STAKEHOLDERS REQUESTS*

5.8%
*Stakeholders expectations showed during the formal consultation process and are assessed on an annual basis.

Corporate Governance

MYTILINEOS applies the principles of Corporate Governance in accordance with the Greek laws in force, in order to ensure transparency and operate responsibly across all its business activity sectors as well as to maximise the benefits to the shareholders and to the investing public. The Company complies with the policies and practices adopted by the “Hellenic Corporate Governance Code for Listed Companies”. The Code, was drafted at the initiative of the Hellenic Federation of Enterprises (SEV), and was subsequently amended in the context of its review by the Hellenic Corporate Governance Council in October 2013.

Company’s Corporate Governance Pillars

BOARD OF DIRECTORS
Board
members
Percentage of Independent members on board
Percentage of non-executive members on board
Voting
standard
Majority
Percentage of women on board
Number of
Committees
  • Internal Audit Committee
  • Remuneration Committee
  • CSR Committee
CORPORATE VALUES
BUSINESS EXCELLENCE

“We are pursuing the continuous improvement of our performance in order to achieve optimal business results”

  • Financial soundness / High profitability
  • High efficiency / Excellent result
  • Competitive advantage
  • Continuous progress / Innovation
  • High Safety & Quality standards
HUMAN CAPITAL

“Our Business success is based on our people”

  • Team Spirit
  • Integrity
  • Communication
  • Professional attitude
  • Health & Safety at the Workplace
SOCIETY & ENVIRONMENT

“We elevate our corporate social responsibility to a daily practice”

  • Socially responsible development
  • Gaining the trust of the society around us
  • Respect towards the environment
  • Safety & Environmental Conscience
CODES & POLICIES
  • Greek Corporate Governance Code.
  • Internal Regulation Code.
  • Professional Ethics Code.
  • Suppliers & Business Partners Code of Conduct.
INTERNAL AUDIT SYSTEM
RISK MANAGEMENT SYSTEM
CSR GOVERNANCE SYSTEM
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