FINANCIAL STATEMENTS OF MYTILINEOS GROUP DEMONSTRATE AN IMPRESSIVE INCREASE IN TURNOVER & OPERATING PROFIT FOR FISCAL YEAR 2000

Athens, February 28, 2001 - The consolidated financial results of MYTILINEOS GROUP (MYTIL GA) (MYTr.AT) for the fiscal year 2000, showed a significant improvement, as it had been previously announced.The following are pointed out: 1.The significant increase in turnover from 93 billion GrD to 140.6 billion GrD, an increase of 51.5%, was mainly due to the increased sales of the parent company, as well as that of the subsidiaries, particularly the sales of SOMETRA. 2.Earnings Before Interest and Taxes, Depreciation and Amortization (EBITDA) increased from 13.8 billion GrD to 22.4 billion GrD, by 61.6%. This is attributed to both, the tripling in profits of the subsidiary Group METKA, as well as in the increase in profits of other subsidiaries. 3.The Net income before taxes for 2000 remained high (13.9 billion GrD in 2000 compared to 15.6 billion GrD in 1999 - a decrease of 11%) although profits from the purchase and sale of securities were dramatically reduced (3.7 billion GrD in 2000 versus GrD 17.1 billion in 1999, a decrease of 78%). This decrease was mainly the result of the improvement in total operating profit.The management of the Group specifically pointed out the special performance of METKA, the Group's subsidiary. METKA almost doubled its turnover while it tripled its profit due to the penetration in the defense and energy sector. In addition, a special reference should be made to the listing of SOMETRA S.A. on the Bucharest Stock Exchange. SOMETRA noted its first positive financial statements for fiscal year 2000, while similar results are expected in the future.Mytilineos Group employs 2,533 people. The consolidation does not include the financial results of ELVO S.A., which was acquired in August 2000.The dividend of Mytilineos S.A. will be 100 GrD per share (similar to the dividend of the previous fiscal year) and the dividend of METKA S.A. will be 30 GrD per share (an increase of 50% in comparison to the last year).For further information, please do not hesitate to contact: Mr. Nikos Kontos, Head of the Shareholders Department, Mrs. Irini Kakoulidou, Group Communication Manager, Mytilineos Holdings S.A. in Athens at tel: (301) 687 7300, or our international investor relations contact Nicolas Bornozis, Capital Link, Inc. in New York at (212) 661-7566. This and additional information can also be accessed on Mytilineos' website www.mytilineos.gr or on Capital Link's website www.capitallink.com. with historical company news.

Search
Toolbox
Laws and Regulations

Market

Composite index

Calendar

FinancialCalendarPortlet

Asset Publisher