How we create value

MYTILINEOS creates value for its Social Partners through its business activities, making a substantial contribution to the economy, to employment and to the development of its local communities.

From approaching the markets, developing and maintaining relationships with clients, purchasing raw materials, to producing, marketing and selling its products, collecting earnings and supporting them throughout their lifecycle, MYTILINEOS creates an important value chain with a strong social and economic impacts. Across all its Business Units, MYTILINEOS supports incomes, tax revenues and jobs, and the same applies for its suppliers and business partners within their own value chain. This way, the Company's positive footprint is multiplied, reaching beyond the Company and affecting domestic employment and the relevant sectors of the economy. The information given on the production and distribution of economic value in the table below, illustrates how MYTILINEOS creates wealth for its key social partner groups.

Economic Value TableThe amounts for "income tax and other taxes" have been updated after deferred taxes were excluded for the previous years. [GRΙ 102-48] [GRI 201-1] 2019 2020 2021

Economic value generated

Sales (thousands €)




Economic value distributed

Cost of goods sold (thousands €)Cost of goods sold plus administrative & distribution expenses, minus (a) retirement and other employee benefits, (b) taxes and duties, and © community-level social investments that have been included in this amount.




Retirement and other employee benefits (thousands €)




Income tax and other taxes (thousands €)




Payments to capital providers (thousands €)Includes interest payments and dividends paid out to shareholders.




Social investments (thousands €)




Total (€)




% economic value distributed




% economic value retained




Social Product

MYTILINEOS’ total Social Product for 2021 amounted to €2,348 million, increased by 72% compared to 2020. The economic value generated and distributed was the following, by key Social Partner group:

€114.1 m.
Employee wages and benefits

€75.9 m.
Taxes paid to the State

€1.6 bn
Total payments to Greek suppliers

€75.3 m.
Payments to capital providers

€9.2 m.
Social Investments

€82.8 m.
Expenditures for improving the Company's environmental footprintThe MYTILINEOS environmental expenditures, in 2021, amounted to €82.8 million and related to waste disposal, management and cost of air emissions, environmental remediation, as well as environmental prevention & management actions. Out of the above expenses, the amount of €78.3 million related to operating expenses (Operational Expenditure — OpEx) and the amount of €4.5 million related to capital expenses (Capital Expenditure — CapEx).

€379.3 m.
Investments for improving the Company’s competitiveness

MYTILINEOS’ Socio-economic Impact in Greece

Every year, MYTILINEOS generates remarkable economic and social value in the country, as a responsible company that interacts with its social partners. In this context, the 3rd Socio-Economic Impact Study of the Company was carried out, with a reference period from January 1, 2021 to December 31, 2021, conducted by an independent specialized socio-economic footprint research company according to the Nobel Prize "input-output" model.

The results of the study confirmed once again the responsible attitude and broader contribution of MYTILINEOS to the national economy and employment. At the same time, the Company is contributing to the collective effort to achieve the UN Sustainable Development Goals 8 & 9, regarding economic growth and boosting employment in the industrial sector respectively.

The social and economic impact of MYTILINEOS in Greece is derived from the economic activity it causes across its entire value chain, from the production to the promotion and sale of its products. For its operation, MYTILINEOS procures raw materials, products and services from Greek suppliers, thus supporting various business sectors of the Greek economy, such as electricity and gas, construction, metallurgy etc. In doing so, the Company supports incomes, tax revenues and jobs and, correspondingly, the same applies for its suppliers and business partners within their own value chain.

The Socio-Economic impact of MYTILINEOS in Greece (2021)
MYTILINEOS contribution to Greek economy and employment (broad picture)
MYTILINEOS, through its activity:

Creates totaldirect, indirect & induced impacts value added of

€2.16 bn
equal to 1.21% of the total national GDP

Offers totaldirect, indirect & induced impacts tax contribution at

€245.8 m.
equal to 0.36% of total tax revenue of the State

Supports in totaldirect, indirect & induced impacts

jobs equal to 0.69% of total employment in Greece

Contributing, at the same time, to the achievement of the
Sustainable Development Goals
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The multiplier benefit of MYTILINEOS’ operation for the Greek economy:

  • In 2021, each unit of value added produced by MYTILINEOS contributes 2.6 units of value added to the economy.
  • In 2021, 43.57 jobs are created in the Greek economy per million euros of added value of MYTILINEOS.
  • For every 1 direct job of the Company, 10 additional jobs are supported in the wider Greek economy.
  • The full Socio-Economic Impact study is available on the website of MYTILINEOS