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2019 Integrated Value Creation

Scorecard

Downloads:
SUSTAINABLE DEVELOPMENT REPORT 2019 ANNUAL REPORT 2019
BUSINESS
PROFILE FINANCIAL
CAPITAL INDUSTRIAL
CAPITAL NATURAL
CAPITAL HUMAN
CAPITAL

DISCLAIMER

The study of the data and information displayed in the Scorecard should always be done by reference to the relevant sections of the Sustainable Development Report of MYTILINEOS SA, as an integral part of it. The presentation of these indicators and elements was designed in accordance with the two core sections of the IIRC Guidelines: "The Capitals" and "The Value Creation for the Organization & Others".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.

BUSINESS
PROFILE FINANCIAL
CAPITAL INDUSTRIAL
CAPITAL NATURAL
CAPITAL HUMAN
CAPITAL
en gr

Business Profile

MYTILINEOS is one of Greece’s largest industrial companies with a long track record of successful international growth in the sectors of Metallurgy, EPC & Infrastructure and Electric Power & Gas Trading. As a responsible industrial company, MYTILINEOS strives for constant business excellence, balancing economic growth with sustainable development. Established in Greece in 1990, the Company is listed on the Athens Exchange and has a consolidated turnover more than €1.5 billion. MYTILINEOS operates the only Europe’s leading vertically integrated alumina and aluminium production and trading plant and, together with its mining operations, is a driving force for the Greek and European economy as well as for the Greek regions. It is the second largest bauxite producer in Greece and in Europe, with an annual output of 650,000 tons of bauxite,exclusively from underground sites. It is ranked among the Top 10 largest EPC contractors worldwide, with major energy projects under way in the markets of Europe, the Middle East and Africa. It is also the largest independent electric power producer in Greece,with 1,200 MW of gas-driven thermal plants in operation in Greece, and a portfolio of RES-based plants (wind farms, photovoltaic parks and small-scale hydropower plants)totaling over 190 MW, exceeding 14% of the country’s active and licensed installed production capacity from thermal plants. Currently, the Company employs directly or indirectly more than 3.600 persons in Greece and abroad.

ACTIVITY SECTORS

INDUSTRIAL AND RENEWABLE ENERGY SOURCES PLANTS

EMPLOYEES
(Direct & Indirect)

SUPPLIERS
(Domestic & Abroad)

COUNTRIES OF OPERATION

€ m.

TURNOVER

€ m.

SOCIAL PRODUCT

Consists of: Employee Fees and Benefits, Investments, Payments to Capital Providers, Total Taxes to the Greek State, Environmental Expenses, Social Investments, Costs to Key Suppliers.

Financial capital

MYTILINEOS makes the most of its financial resources, aiming to create added value for its shareholders and investors. The Company monitors its performance on month-on-month basis, thus ensuring the early and effective identification and tracking of any deviations from its goals and taking corresponding corrective measures. It also evaluates its financial performance using internationally established Key Performance Indicators (KPIs)

Use of capital

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

Trade-offs (Financial Capital with the other categories of Capitals)

MYTILINEOS allocates its Financial Capital to its businesses, focusing on those areas it thinks offer the best prospects for growth and returns. The allocation of financial resources for the maintenance and modernization of industrial units and facilities contributes significantly to the enhancement of the value of the company's Industrial Capital, while the corresponding allocation of resources to education, development, remuneration and Health Safety of its employees is transformed into the value of Human Capital. Also, the company, investing part of its Financial Capital in stabilizing and minimizing its impact on the natural environment, returns part of the value of Natural Capital, which appears to be initially restricted, mainly due to the use of raw materials from non-renewable sources in its activity. Finally, MYTILINEOS allocates part of its financial resources to the implementation of its social policy, with direct beneficiaries the wider community thus increasing the value of its Social Capital, while the related investments in the expansion of its business activities add, in the long term, to the value created from the Financial Capital itself.

Outputs

TURNOVER

48.0%
  • €2,256.1 m (2019)
  • €1,526.5 m (2018)
  • €1,526.7 m (2017)

EBITDA

10.0%
  • €313.2 m (2019)
  • €283.6 m (2018)
  • €298.9 m (2017)

NET DEBT TO
EBITDA RATIO

8.0%
  • 1.4 (2019)
  • 1.3 (2018)
  • 1.9 (2017)

ECONOMIC VALUE DISTRIBUTED1

1,0%
  • 96.4% (2018)
  • 95.7% (2018)
  • 90.0% (2017)

NET PROFITS

3.0%
  • €144,9 m (2019)
  • €141,2 m (2018)
  • €145,8 m (2017)

EARNINGS PER SHARE

2.0%
  • €1.01(2019)
  • €0.99 (2018)
  • €1.02 (2017)
1 Percentage of turnover. Distributed economic value contains: Operating costs, Employees’ salaries & benefits, Payment of income tax & other taxes, Payments to capital providers, Investments in local communities.

RETURN ON
EQUITY

3%

ECONOMIC VALUE
ADDED (k)

101%

SHAREHOLDERS DIVIDENT (m)

13%

RETURN ON CAPITAL
EMPLOYED

29%

FIXED ASSET
INVESTMENTS (m)

51%

TOTAL VALUE ADDED (m)*

0.2%
*Equal to 0.6% of the country’s GDP(2019: 187,457 M€ - Source Eurostat). *MYTILINEOS contribution to the country's GDP is assessed by the total added value created (direct, indirect, and induced) for the Greek economy from the company's activity. See the relevant study of the MYTILINEOS Socio-Economic impact for the year 2019 here: https://www.mytilineos.gr/en-us/csr-reports/publications

Industrial capital

The optimal operation of the industrial units of the company requires investments in facilities and equipment that are realized by the allocation of funds derived from the Financial Capital and which supplement the proceeds from the sale of the products as a result of the industrial production. Also, the utilization of industrial resources affects the value of Natural Capital, mainly through the use of raw materials from non-renewable sources during the production process, while the long-term part of this lost value is limited by the application of best practices of responsible consumption and production to stabilize and improve its environmental performance. Finally, the development of Industrial Capital contributes to the compliance of the company with the relevant legislative and regulatory requirements, which enhances both the value of Social Capital and the renewal of its social license, as well as the value of Human Capital through the further development of skills of the employees to meet the modern requirements of the production process.

Use of capital

  • 25 Industrial production & Renewable Energy Sources(RES) plants
    • 7 Industrial plants (a bauxite mining unit, an aluminum production plant, a primary aluminum production plant, a recycled (secondary) aluminum production plant, a composite construction plant, a steel processing plant, a unit for providing innovative solutions in the field of liquid and solid waste treatment).
    • 3 Gas-fired thermal plants (a High Efficiency Combined Heat and Power Plant of primary electricity production (334 MW). And two Gas-fired Combined Cycle Thermal Power Plants of primary electricity production (881.08 MW).
    • 15 RES plants (11 Wind Farms, 3 Photovoltaic Parks & 1 Small Hydropower Plant).

Trade-offs (Industrial Capital with the other categories of Capitals

The utilisation of industrial units requires investments in installations and equipment, which are drawn from the company’s financial resources in the form of the funds allocated for this purpose. At the same time the Financial Capital value is enhanced by the income from the sales of the products obtained from the industrial production. The Industrial Capital impacts on the value of the Natural Capital, mainly using raw materials from non-renewable sources in the production process, while in the long term a part of this lost value is reduced by the company’s commitment to responsible consumption and production practices aimed at stabilising and improving the environmental performance of its industrial units. Investments in Industrial Capital help ensure the company’s compliance with the applicable legal and regulatory requirements: this has a positive impact on the Social Capital, as it enhances the company’s social license to operate, while it also affects positively its Human Capital, through the further development of the skills of employees, so that they can meet modern production process requirements.

Certification

The 100% of the MYTILINEOS Business Units, have in place a Quality management system certified by ISO 9001-2015 Standard.

Outputs

BAUXITE
PRODUCTION

8.0%
  • 570.9 k tn (2019)
  • 527.2 k tn (2018)
  • 630.1 k tn (2017)

ALUMINIUM
PRODUCTION

0.3%
  • 186.9 k tn (2019)
  • 187.5 k tn (2018)
  • 181.7 k tn (2017)

THERMAL PLANT
CAPACITY IN OPERATION

0.0%
  • 1.2 GW (2019)
  • 1.2 GW (2018)
  • 1.2 GW (2017)

RES PLANTS CAPACITY UNDER CONSTRUCTION

59.0%
  • 54 MW (2019)
  • 34 MW (2018)
  • 63.3 MW (2017)

ALUMINA
PRODUCTION

1.0%
  • 820,1 k tn (2019)
  • 827,0 k tn (2018)
  • 821,0 k tn (2017)

ELECTRICITY POWER PRODUCTION

14.0%
  • 21,197.6 TJ (2019)
  • 18,565.9 TJ (2018)
  • 18,897.0 TJ (2017)

RES PLANTS CAPACITY
IN OPERATION

21.0%
  • 211 MW (2019)
  • 175 MW (2018)
  • 130 MW (2017)

ENERGY &
INFRASTRUCTURE
PROJECTS IN PROGRESS

50.0%
  • 9 (2019)
  • 6 (2018)
  • 7 (2017)

TOTAL
EXPORTS (m)

37%

ALUMINIUM PRODUCTS
SALES (k tn)

2%

RES ELECTRICITY
(generated and sold in TJ)

55%

EPC & INFRASTRUCTURE
ΝΕW ORDERS (m)

4%

RESEARCH &
DEVELOPMENT (k)

87%

ELECTRICITY
SOLD (TJ)

14%

MARKET SHARE OF THE
DOMESTIC POWER PRODUCTION

43%

MARKET SHARE* IN THE
RETAIL ENERGY MARKET

28%
*MONTHLY EΝERGY BALANCE ADMIE (DECEMBER 2019)

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 capital

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

Trade-offs (Natural Capital with the other categories of Capitals)

The use of raw materials from non-renewable sources, air emissions and waste production, in the context of the MYTILINEOS activities, restrict the stock of value of the Natural Capital. MYTILINEOS, in order to minimize its impact on the natural environment, alongside its certified environmental management system, promotes the implementation of best available techniques in all its Business Sectors. This practice requires financial resources that, in the short-term, seems to reduce the Financial Capital while at the same time it strengthens the value of the Social Capital by ensuring the maintenance of the environmental permits as well as the social acceptance of the company’s operation. Moreover, by converting the elements of the natural capital into value-added products, MYTILINEOS boosts the value stock of the Financial and Human Capital.

Research & Innovation

In the context of the Cyclical Economy, MYTILINEOS has set the goal of developing technologies that will allow the holistic exploitation of bauxite residues such as Rare Earth extraction, new alumina production processes from alternative sources, and new sustainable electrolytic iron production technology from residues of bauxite through its participation in European research programs.

Certification

The 84.5% of the industrial & RES plants of MYTILINEOS, have in place an Environmental Management System, certified by ISO 14001-2015 Standard.

Outputs

BAUXITE
CONSUMPTION

0.0%
  • 1,87 m tn (2019)
  • 1,87 m tn (2018)
  • 1.85 m tn (2017)

ENERGY
CONSUMPTION1

9.0%
  • 53.730,90 TJ (2019)
  • 49.535,62 TJ (2018)
  • 53.015,60 TJ TJ (2017)

CO2 emissions
(Scope 1 & 2)

5.0%
  • 4.6 m tn (2019)
  • 4.4 m tn (2018)
  • 4.9 m tn (2017)

SOLID
WASTE

7.5%
  • 849.1 k tn (2019)
  • 918.5 k tn (2018)
  • 846.9 k tn (2017)

WATER
WITHDRAWALS

1.0%
  • 164.2 m m3 (2019)
  • 165.7 m m3 (2018)
  • 162 m m3 (2017)

NATURAL GAS
CONSUMPTION

10.0%
  • 1,133.7 m Nm3 (2019)
  • 1,031.4 m Nm3 (2018)
  • 1,063.3 m Nm3 (2017)

WATER
CONSUMPTION

14.5%
  • 6.5 m m3 (2019)
  • 5.7 m m3 (2018)
  • 5.8 m m3 (2017)

EMISSIONS
(NOx & SOx)

4.0%
  • 5.2 m tn (2019)
  • 5.0 m tn (2018)
  • 5.0 m tn (2017)

WATER
DISCHARGES

0.4%
  • 170.8 m m3 (2019)
  • 171.4 m m3 (2018)
  • 167.7 m m3 (2017)

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

5.0%
  • 120 acres (2019)
  • 126 acres (2018)
  • 126 acres (2017)
1 Total energy consumption = Energy consumption from Non-renewable sources + Energy consumption from Renewable sources + Energy purchased for consumption + Energy produced - Energy sold

ENVIRONMENTAL
EXPENDITURES (m)

86%

PARTICULATE
MATTER (tn)

27%

DRINKING WATER
CONSUMPTION
(k m3)

5%

SAVING WATER
IN PRODUCTION
PROCESS (m m3)

32%

TOTAL LAND AREA
IN REHABILITATION
PROCEDURE (acres)

7%

PFC's EMISSIONS
(k tn eq CO2)1

6%

RESPONSIBLE MANAGEMENT
OF SOLID WASTE (k tn)2

7%

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

15%

TOTAL AREA LAND
THAT HAS BEEN
RESTORED (acres):

1%
1 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.
2Management methods: Reuse - Recycling - Utilization in other industrial uses.
3 CDP Security Water Score 2019. See the Score chart here.

Human capital

MYTILINEOS always treats its people with responsibility and consistency, so as to remain their first choice of employer during their entire career paths. Factors such as Health and Safety at the workplace, the development of diverse skills, performance reviews, training and career development as well as the transfer of know-how to direct and indirect employees, are common goals that are shared by all Company’s Business Sectors, strengthening its capacity to achieve the desired financial and non-financial results.

Use of capital

  • 3,662employees
    (direct & indirect)
    • Metallurgy & Metals Sector:
      1,807 employees
    • EPC & Infrastructure Sector:
      1.192 employees
    • Electric Power & Gas Sector:
      344 employees
    • Central Functions:
      319 employees
  • Employees abilities and capabilities

Trade-offs (Human Capital with the other categories of Capitals)

MYTILINEOS employees constitute the key element of the value produced by the company throughout its business activity. The company invests part of the value of its Financial Capital on the wages & benefits, Health & Safety, education & professional development of its employees. In parallel, the use of the employees’ skills in the production process increases the efficiency and, therefore, the value created by the Industrial Capital. The investments in Health & Safety at the workplace and therefore the protection of the right of direct and indirect employees to work without exposing themselves to imminent risk of injury or illness, increase the value created by the Human Capital itself but also the value stock of the Company’s Social Capital. Moreover, the Company’s Human Resources Management policy contributes to the value stock of the Financial Capital in the long term, by keeping the employees Injury and Turnover Rates at very low levels, thus avoiding costly accidents as well as the costs of replacing and training specialised employees.

Certification

The 84% of the industrial & RES plants of MYTILINEOS, have in place an Occupational Health & Safety Management System, certified by ISO 45001-2015 or OHSAS 18001 Standards

Outputs

NUMBER OF
FATALITIES1

0.0%
  • 0 (2019)
  • 0 (2018)
  • 0 (2017)

NUMBER OF
OCCUPATIONAL
DISEASES1

0.0%
  • 0 (2019)
  • 0 (2018)
  • 0 (2017)

FULL TIME
EMPLOYEES
RETENTION
RATE

3.0%
  • 93% (2019)
  • 90% (2018)
  • 92% (2017)

TOTAL TRAINING
MAN - HOURS1

36.0%
  • 59,788 (2019)
  • 43,950 (2018)
  • 45,833 (2017)

INCIDENTS OF HUMAN
RIGHTS VIOLATION

0,0%
  • 0 (2019)
  • 0 (2018)
  • 0 (2017)

NUMBER OF
INJURIES1

80.0%
  • 1 (2019)
  • 5 (2018)
  • 3 (2017)

PERSONNEL
TURNOVER
RATE2

11.0%
  • 5.2% (2019)
  • 5.8% (2018)
  • 3.3% (2017)

PERCENTAGE OF
EMPLOYEES WHO
RECEIVED A
PERFORMANCE REVIEW3

23.0%
  • 56.0% (2019)
  • 73.0% (2018)
  • 81.0% (2017)

AVERAGE TRAINING
HOURS / EMPLOYEE1

13.0%
  • 24.5 (2019)
  • 21.6 (2018)
  • 22.7 (2017)

INCIDENTS OF
DISCRIMINATION

0,0%
  • 0 (2019)
  • 0 (2018)
  • 0 (2017)
1Direct Employees 2Number of voluntary employee retirements to the average number of direct employees of the company in that year 3Percentage of all direct workers. The corresponding percentage of total eligible workers reaches 82.3%. The eligible term includes employees who are eligible to be included in the annual performance appraisal process. In particular, employees not working in the company for less than 6 months are excluded, as well as special category work / role

EMPLOYEES SALARIES
& BENEFITS (m)

16%

LOST DAYS
DUE TO
ACCIDENTS1

69%

TRAINING
COST / EMPLOYEE

12%

PERCENTAGE OF
WOMEN IN
MANAGEMENT

6%

PERCENTAGE OF EMPLOYEES
COVERED BY COLLECTIVE
BARGAINING AGREEMENTS

12%

INJURIES
FREQUENCY1

84%

TOTAL EMPLOYEES
TRAINING COST
(k €)

4%

PERCENTAGE OF WOMEN
IN THE WORKFORCE2

3%

PERCENTAGE OF
EMPLOYEES <30 YEARS OLD
IN THE WORKFORCE2

10%

PERCENTAGE OF EMPLOYEES
WHO RETURNED TO WORK
AFTER PARENTAL LEAVΕ3

1%
1 per 200,000 working hours
2 Direct employees
3 Leave granted to men and women employees on the grounds of the birth of a child.

Social Capital

The implementation of MYTILINEOS social policy requires resources to be made to implement a range of social investments such as: sponsorships, donations, social programs and local infrastructure support actions that in the short term limit the value of its Financial capital while contributing decisively to its strengthening in the long run , since they contribute to maintaining the sustainability of the local communities in which the company operates and the wider community as a whole. In addition, MYTILINEOS 'relations with its Social Partners influence either directly or indirectly its image and reputation. These relationships, which are characterized by a variety of forms of partnership that are dictated by the social and economic conditions and are mainly implemented through the Company's Business Areas, are vital to enhance the value of all categories of funds that MYTILINEOS uses, contributing to the effective operation of its business model and the renewal of its social operating license over time.

Use of capital

  • Stakeholders Relations
  • Social Investments
  • Disclosure Policy
  • MYTILINEOS’s Reputation

Trade-offs (Social Capital with the other categories of Capitals)

MYTILINEOS social investments which are addressed to its local communities as well as to the society at large, in the form of sponsorships, donations, support for the development of local infrastructures and the implementation of social programmes, may reduce, in the short term, the Company’s Financial Capital, but in the longer term enable growth in this capital stock. The relations of MYTILINEOS with local government, investors, regulatory authorities and its other Stakeholder groups, affect directly or indirectly its image and reputation. These relations, which are characterised by a variety of partnership forms and are dictated by the social and economic conditions that apply in each particular case, are vital for all the Capital Categories employed by the Company, contributing to the effective operation of its business model and to the continuous renewal of its social license to operate.

Significant distinctions

  • GOLD Award: "Integrated Value Creation SCORECARD"
  • SILVER Award: Consultation with Stakeholders on "Developing a Responsible Supply Chain"
  • BRONZE Award: Depiction of social value of the "I AM IN" program on combating school dropout through the international methodology SROI
  • BRAVO GOVERNANCE pillar: Consultation with Stakeholders on "Developing a Responsible Supply Chain"

Outputs

Percentage Distribution of
Social Investments

*
* Local infrastructure (67,1%)
  Culture/Art/Sports (20,7%)

It’s MYTILINEOS’s strategic line to be an active member of its local communities and to make a positive difference where it operates. In this place you can see MYTILINEOS’s sustainability vision in action.

Annual Engagement process with Stakeholders:

METALLURGY SECTOR

The practice of Stakeholder’s consultation is the implementation of MYTILINEOS's timeless commitment to responsible entrepreneurship and open, social dialogue, to ensure its sustainability and create added value to the wider society as a whole. In 2019, the Metallurgy Sector successfully implemented the 5th thematic Consultation of the company's Stakeholders, entitled: "Education-Skills Development and Creating Qualitative Jobs". The purpose of the consultation was to have a constructive dialogue between the Company and the representatives of the academic community, education suppliers, business and local organizations, journalists and employees on the contribution of the state, civil society and the business world to the world. (Quality Education).

NEW JOBS

524%

PAYMENT OF INCOME
TAX & OTHER TAXES (m)

19%

PERCENTAGE OF
EMPLOYEES FROM
LOCAL COMMUNITIES

0%

PARTICIPATION IN KEY
SUSTAINABLE DEVELOPMENT
INITIATIVES1

0%

INDIRECT JOBS SUPPORTED

5%

SOCIAL
INVESTMENTS (m)

52%

INVESTMENTS IN
INFRASTRUCTURE OF
LOCAL COMMUNITIES (k)

116%

RESPONSE RATE
TO STAKEHOLDERS
REQUESTS2

4%
1 1)CDP - WATER SECURITY 2) UN Global Combact, 3) ISO 26000, 4) GRI STANDARDS, 5)Sustainable Greece 2020, 6) CSR Hellas,7) Sustainable Development Goals, 8) SEV – Sustainable Development Council 9) G.E.F.Y.R.A.10) CSR Maturity And Integration Assessment Tool
2 Stakeholders requests/expectations showed during the formal consultation process (period 2010-2019)

By selecting the icons, you can see how the created value of the Financial Capital is related to the UN Sustainable Development Goals