2016 Full - Year Financial Results
Following the announcement, in 2016, of its forthcoming corporate transformation, MYTILINEOS Group entered a new phase in its evolution, through a new, flexible organisational structure that will result in business synergies in both operational and financial terms and will create additional value for its shareholders. At the same time, in 2016 the Group strengthened significantly its presence in the domestic electricity market, secured the position of ALUMINIUM OF GREECE (AoG) as one of the most competitive aluminium producers globally and succeeded in opening up new markets for its EPC Projects Sector.
With regard to its financial performance in 2016, the Group posted a consolidated turnover of €1,246.1 million against €1,382.9 million in 2015, a decline due primarily to the reduced contribution of the EPC Projects Sector. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at €222.4 million, down from €234.4 million in 2015, with net profit after tax and minority rights standing at €34.2 million against €47.5 million in the previous year.
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