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2000 Annual Report PDF 4.0MB ª Y T I L I N E O Contents S - H O L D I N G C S S ANNUAL REPORT 2000 . A . Page 3 STRUCTURE OF THE GROUP 5 BOARD OF DIRECTORS 5 MANAGEMENT 6 MAIN EVENTS 7 ACQUISITION OF HELLENIC VEHICLE INDUSTRY S.A. (ELVO) 11 SOMETRA S.A. DOUBLING OF PRODUCTION AND INCREASED PROFITABILITY 13 GROUP ACTIVITIES IN THE ENERGY SECTOR ANNUAL BULLETIN 2000 17 1. COMPANY PROFILE 17 1.1 Background 17 1.2 Services and Products 18 1.3 International Activities – Alliances EuroCapital GRAPHICS ñ ∆ËÏ.: 3311 671 20 1.4 Sales and Distribution Network 20 1.4.1 Sales Network in Foreign Countries 21 1.4.2 Domestic Sales and Distribution Network 21 1.5 Market Overview 23 1.6 Corporate Organisational Chart 24 1.7 Human Resources 24 1.8 Investments 26 2. BALANCE SHEET 26 2.1 Operations - Results 29 2.2 Appropriation of Profits Before Tax and Depreciation 30 2.3 Analysis of Financial Position 1998-2000 31 2.4 Basic Financial Ratios 32 2.5 Financial Sources and Use of Capital 2000 Annual Report 33 3. AFFILIATED COMPANIES 33 3.1 Mytilineos Holdings S.A. Affiliated Companies 33 3.1.1 Subsidiaries 36 4. COMPANY PROSPECTS (FUTURE GROWTH) 36 4.1 Company Prospects 40 4.2 Investment Policy 41 5. SHARE PRICE MOVEMENT AND DIVIDEND POLICY 41 5.1 Dividend Policy 41 5.2 Profits per Share 42 5.3 Stock Price Movement 44 APPENDIX 44 Balance Sheet of Mytilineos Holdings S.A. 46 Consolidated Balance Sheet of Mytilineos Holdings S.A. HEAD OFFICE: 5-7, PATROKLOU STREET, MAROUSSI ñ 151 25 ATHENS, GREECE TEL.: (+301) 68 77 300 ñ FAX: (+301) 68 77 400 e-mail: [email protected] www.mytilineos.gr ª Y T I L I N E O Contents S - H O L D I N G C S S ANNUAL REPORT 2000 . A . Page 3 STRUCTURE OF THE GROUP 5 BOARD OF DIRECTORS 5 MANAGEMENT 6 MAIN EVENTS 7 ACQUISITION OF HELLENIC VEHICLE INDUSTRY S.A. (ELVO) 11 SOMETRA S.A. DOUBLING OF PRODUCTION AND INCREASED PROFITABILITY 13 GROUP ACTIVITIES IN THE ENERGY SECTOR ANNUAL BULLETIN 2000 17 1. COMPANY PROFILE 17 1.1 Background 17 1.2 Services and Products 18 1.3 International Activities – Alliances EuroCapital GRAPHICS ñ ∆ËÏ.: 3311 671 20 1.4 Sales and Distribution Network 20 1.4.1 Sales Network in Foreign Countries 21 1.4.2 Domestic Sales and Distribution Network 21 1.5 Market Overview 23 1.6 Corporate Organisational Chart 24 1.7 Human Resources 24 1.8 Investments 26 2. BALANCE SHEET 26 2.1 Operations - Results 29 2.2 Appropriation of Profits Before Tax and Depreciation 30 2.3 Analysis of Financial Position 1998-2000 31 2.4 Basic Financial Ratios 32 2.5 Financial Sources and Use of Capital 2000 Annual Report 33 3. AFFILIATED COMPANIES 33 3.1 Mytilineos Holdings S.A. Affiliated Companies 33 3.1.1 Subsidiaries 36 4. COMPANY PROSPECTS (FUTURE GROWTH) 36 4.1 Company Prospects 40 4.2 Investment Policy 41 5. SHARE PRICE MOVEMENT AND DIVIDEND POLICY 41 5.1 Dividend Policy 41 5.2 Profits per Share 42 5.3 Stock Price Movement 44 APPENDIX 44 Balance Sheet of Mytilineos Holdings S.A. 46 Consolidated Balance Sheet of Mytilineos Holdings S.A. HEAD OFFICE: 5-7, PATROKLOU STREET, MAROUSSI ñ 151 25 ATHENS, GREECE TEL.: (+301) 68 77 300 ñ FAX: (+301) 68 77 400 e-mail: [email protected] www.mytilineos.gr Financial Highlights Summary of Financial Figures Turnover Gross Operating Profits (in GRD million) (in GRD million) MYTILINEOS S.A. Amounts in GRD million 1997 1998 (%) 1999 (%) 2000 (%) 1997 37,828 1997 4,016 Change Change Change Turnover (Sales) 37,828,536 37,476,234 -0.9 46,359,899 23.7 84,941,234 83.2 1998 37,476 1998 4,394 Gross Operating Profits 4,016,280 4,394,397 9.4 6,060,302 37.9 9,086,362 49.9 1999 46,360 1999 6,060 Operating Expenses 1,485,401 2,062,668 38.9 2,807,658 36.1 4,166,590 48.4 Financial Results -878,388 -179,452 79.6 14,595,514 8,233.4 7,051,068 -51.7 2000 84,941 2000 9,086 Operating Results 1,658,655 2,191,917 32.2 17,852,037 714.4 12,044,071 -32.5 0 20,000 40,000 60,000 80,000 100,000 0 2,000 4,000 6,000 8,000 10,000 Net Income 1,634,731 2,105,455 28.8 12,061,656 472.9 12,554,474 4.1 Net Income for Appropriation 1,715,245 2,709,237 58.0 9,999,507 269.1 10,214,184 2.1 Net Profits Total Equity Dividends 607,805 1,215,610 100.0 4,052,034 233.3 4,052,034 0.0 (in GRD million) (in GRD million) Reserve 169,453 1,248,739 636.9 5,866,593 369.8 5,697,534 -2.9 Profit Carried Forward 937,987 244,888 -73.9 80,880 -67.0 464,616 474.5 1997 1,635 1997 5,074 Total Gross Fixed Capital 1,166,045 1,515,169 29.9 5,904,308 289.7 6,387,521 8.2 1998 2,105 1998 21,771 Depreciation 110,874 189,539 70.9 388,435 104.9 559,252 44.0 Total Net Fixed Capital 1,055,172 1,325,630 25.6 5,515,872 316.1 5,828,269 5.7 1999 12,062 1999 78,124 Total Liquidity 13,746,436 35,422,971 157.7 73,085,892 106.3 56,776,260 -22.3 Total Assets 15,155,559 38,477,526 153.9 113,109,804 194.0 123,702,491 9.4 2000 12,554 2000 84,431 Total Equity 5,074,007 21,771,403 329.1 78,124,412 258.8 84,431,394 8.1 0 3,000 6,000 9,000 12,000 15,000 0 20,000 40,000 60,000 80,000 100,000 Total Liabilities 9,922,723 16,540,438 66.7 32,814,487 98.4 38,513,665 17.4 Financial Highlights (Consolidated) Summary of Consolidated Financial Figures Turnover Gross Operating Profits (in GRD million) (in GRD million) MYTILINEOS S.A. – GROUP CONSOLIDATED FIGURES Amounts in GRD million 1997 1998 (%) 1999 (%) 2000 (%) 1997 54,572 1997 5,376 Change Change Change Turnover (Sales) 54,572,101 68,932,954 26.3 93,007,776 34.9 140,685,635 51.3 68,933 1998 1998 7,782 Gross Operating Profits 5,376,142 7,781,650 44.7 13,592,722 79.3 20,835,722 49.3 Operating Expenses 1,748,987 3,196,439 82.8 6,238,590 95.2 9,730,558 56.0 1999 93,008 1999 13,593 Financial Results -1,216,702 -331,350 272.2 13,697,212 4,233.8 1,374,254 -90.0 2000 140,686 2000 20,836 Operating Results 2,453,215 4,306,999 75.6 21,309,544 394.8 14,040,815 -34.1 Net Income 2,424,970 4,203,391 73.3 15,592,627 271.0 13,885,542 -10.9 0 30,000 60,000 90,000 120,000 150,000 0 5,000 10,000 15,000 20,000 25,000 Net Income for Appropriation 2,563,073 5,461,446 113.1 14,556,467 166.5 11,543,442 -20.7 Net Profits Total Equity Dividends 607,805 1,215,610 100.0 4,052,034 233.3 4,052,034 0.0 (in GRD million) (in GRD million) Reserve 277,026 1,264,487 356.5 6,056,674 379.0 6,409,353 5.8 Profit Carried Forward 1,735,935 2,981,349 71.7 4,447,756 49.2 1,082,055 -75.7 1997 2,425 1997 5,835 Total Gross Fixed Capital 1,268,241 1,719,041 35.5 31,210,731 1,715.6 35,016,225 12.2 1998 4,203 1998 24,346 Depreciation 147,079 241,240 64.0 15,291,570 6,238.7 18,045,949 18.0 Total Net Fixed Capital 1,121,163 1,477,801 31.8 15,919,161 977.2 20,203,220 26.9 1999 15,593 1999 84,331 Total Liquidity 18,977,973 38,939,726 105.2 119,620,224 207.2 98,039,498 -18.0 Total Assets 20,163,150 41,767,261 107.1 138,665,871 232.0 126,772,778 -8.6 13,885 2000 2000 52,866 Total Equity 5,834,872 24,346,003 317.2 84,331,356 246.4 52,865,570 -37.3 0 5,000 10,000 15,000 20,000 0 20,000 40,000 60,000 80,000 100,000 Total Liabilities 14,162,964 17,245,673 21.8 51,698,905 199.8 72,721,202 40.7 Financial Highlights Summary of Financial Figures Turnover Gross Operating Profits (in GRD million) (in GRD million) MYTILINEOS S.A. Amounts in GRD million 1997 1998 (%) 1999 (%) 2000 (%) 1997 37,828 1997 4,016 Change Change Change Turnover (Sales) 37,828,536 37,476,234 -0.9 46,359,899 23.7 84,941,234 83.2 1998 37,476 1998 4,394 Gross Operating Profits 4,016,280 4,394,397 9.4 6,060,302 37.9 9,086,362 49.9 1999 46,360 1999 6,060 Operating Expenses 1,485,401 2,062,668 38.9 2,807,658 36.1 4,166,590 48.4 Financial Results -878,388 -179,452 79.6 14,595,514 8,233.4 7,051,068 -51.7 2000 84,941 2000 9,086 Operating Results 1,658,655 2,191,917 32.2 17,852,037 714.4 12,044,071 -32.5 0 20,000 40,000 60,000 80,000 100,000 0 2,000 4,000 6,000 8,000 10,000 Net Income 1,634,731 2,105,455 28.8 12,061,656 472.9 12,554,474 4.1 Net Income for Appropriation 1,715,245 2,709,237 58.0 9,999,507 269.1 10,214,184 2.1 Net Profits Total Equity Dividends 607,805 1,215,610 100.0 4,052,034 233.3 4,052,034 0.0 (in GRD million) (in GRD million) Reserve 169,453 1,248,739 636.9 5,866,593 369.8 5,697,534 -2.9 Profit Carried Forward 937,987 244,888 -73.9 80,880 -67.0 464,616 474.5 1997 1,635 1997 5,074 Total Gross Fixed Capital 1,166,045 1,515,169 29.9 5,904,308 289.7 6,387,521 8.2 1998 2,105 1998 21,771 Depreciation 110,874 189,539 70.9 388,435 104.9 559,252 44.0 Total Net Fixed Capital 1,055,172 1,325,630 25.6 5,515,872 316.1 5,828,269 5.7 1999 12,062 1999 78,124 Total Liquidity 13,746,436 35,422,971 157.7 73,085,892 106.3 56,776,260 -22.3 Total Assets 15,155,559 38,477,526 153.9 113,109,804 194.0 123,702,491 9.4 2000 12,554 2000 84,431 Total Equity 5,074,007 21,771,403 329.1 78,124,412 258.8 84,431,394 8.1 0 3,000 6,000 9,000 12,000 15,000 0 20,000 40,000 60,000 80,000 100,000 Total Liabilities 9,922,723 16,540,438 66.7 32,814,487 98.4 38,513,665 17.4 Financial Highlights (Consolidated) Summary of Consolidated Financial Figures Turnover Gross Operating Profits (in GRD million) (in GRD million) MYTILINEOS S.A.
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