Creating the New Era
of MYTILINEOS
Who We Are
MYTILINEOS is a highly successful industrial and energy company with internationally presence covering two business Sectors: Energy and Metallurgy. In late 2022, the new corporate transformation created MYTILINEOS Energy & Metals, an even more dynamic and flexible company. We initiated a transformation process to move toward a greener, more sustainable future, improve our organizational structure, and achieve new levels of profitability.
Letter to the Shareholders
In 2022, we saw unprecedented challenges related to the geopolitical turmoil along with the global energy crisis and the pandemic implications. We overcame the difficulties and continued to develop MYTILINEOS due to synergies of our business units, tireless efforts of our people, and dedication to our corporate mission.
Read more“2022 was a milestone year for MYTILINEOS, not only due to the Company’s historically high performance against a negative international environment, but above all because it was the year of transition to a new era through its corporate transformation into MYTILINEOS Energy & Metals.”
Evangelos Mytilineos, Chairman & CEO
Maintaining the Balance
We operate in demanding local and international markets with inventiveness, effectiveness and respect for the environment and the society.
We rely on our workforce, creating value for our customers, our shareholders, our employees and the Greek Economy.
Our goal is to remain the market leader by maintaining the balance between economic growth and sustainable development.
In 2022, the Metallurgy segment achieved significant profitability despite an unexpected energy crisis, thanks to early cost-cutting initiatives. MYTILINEOS, the EU’s only vertically integrated producer of bauxite, alumina, and primary aluminum, continues to develop this segment by investing in «green» metallurgy, expanding secondary aluminum capacity, and exploring the possibility of expanding into other metals related to energy transition.
2022
+22% sales revenues YoY
Metallurgy Business Unit achieved ASI Chain of Custody Standard Certification
In the energy sector, MYTILINEOS is transforming into an integrated utility firm that operates throughout the whole energy spectrum. The Company expands its global reach, sharpens its client focus, and implements innovative technologies to launch new CCGT units and RES projects in different countries.
2022
+252% sales revenues YoY
12.6 GW capacity of RES assets in the global portfolio
5.4 TWh electric power production by MYTILINEOS’ thermal & RES plants
Contributing to a Sustainable Future
As a responsible company, MYTILINEOS is committed to the principles of Sustainable Development. One of our strategic goals is to reduce CO2 emissions and achieve a carbon neutrality by 2050. In 2022, we took one more step toward Net Zero — our GHG emissions reduced by 3.5% YoY and by 15.5% against the base year. The Company’s “Green” EBITDA grew by 158% due to the rapid development of the Global RES pipeline. Our strong performance in sustainable development was noted: in 10 of the 13 ESG ratings MYTILINEOS took part in, it was ranked in the top 10% of its sector peers.
Read more on our sustainability resultsNew participant of Dow Jones Sustainability Indices and MSCI ESG Ratings
Exceeding Expectations
Despite geopolitical tensions and the global energy crisis, MYTILINEOS saw record profits in 2022. We tripled our net profit and boosted EBITDA by 130%. Regardless of the high 2022 CapEx, MYTILINEOS’ leverage halved due to consistently robust cash flow from operations. The Company remained committed to its dividend policy. The proposed dividend for 2022 is 190% higher than the 2021 payout.
Read more on our financial resultsImproving Stock Liquidity
MYTILINEOS shares have been listed on the Athens Stock Exchange (ASE) since 1995. In the reporting year, the Company’s stock significantly outpaced the market: MYTIL grew by 374% while the market rose