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Financial Data

Ecoelastika makes cooperation agreements with tire and vehicle importers. Each contracting importer is obliged to pay Ecoelastika a relevant contribution per category of tire and per item of sold tire on the Greek market, as defined by the System.

Next, Ecoelastika settles its obligations towards the companies that have undertaken the collection, the transport and the final recovery of the ELT’s. The contribution also covers the administrative cost of the company, as well as the state fee of 2% on the turnover of the previous year which is paid to the Hellenic Recycling Organization.

Especially as far as the final recovery of the used tires is concerned, Ecoelastika pays the factories receiving the used tires, whether for final material recovery or energy recovery. Specifically, in both cases Ecoelastika pays the end users a gate fee. In the case of material recovery, apart from the gate fee, Ecoelastika also pays an additional amount to the recyclers upon the sale of the final products that are produced by mechanical processing of the used tires. The above cost is due to the “negative” value of the scrap tires, since this recovery procedure requires a “subsidy” by Ecoelastika towards the end users, who are paid for the services they provide to the system of environmental management of tires. This practice applies in all other European countries that put into effect the principle of extended producer responsibility and companies similar to Ecoelastika are in operation.