MYTILINEOS reports a double digit jump in profits for 2021
MYTILINEOS reports a double digit jump in profits for 2021

MYTILINEOS reports a double digit jump in profits for 2021

RE+D magazine

In a year full of significant challenges, MYTILINEOS demonstrated its ability to adapt in difficult conditions, with good planning and hard work. In the new, much larger and much more challenging “piste” that we are entering in 2022, we will keep going in this direction, with renewed strength and “vigor”!”

During 2021, MYTILINEOS remained steady on a growth trajectory, responding well to the Covid-pandemic challenges, the energy crisis as well as the wider inflationary pressures that erupted in the second half of the year. 

The company launched, the completion of a series of critical investments like the aluminum production increase to 250,000 tons (project NEW ERA 250), the construction completion of the new 826MW CCGT power plant as well as with the completion of the development of new RES units both in Greece and abroad, with total capacity of over 2.5GW, which will make MYTILINEOS a leading player against the global challenges posed by climate change as well as the need for a smooth energy transition.

In particular the listed firm reported, 

  • 26% increase in Net Profit after minorities to €162 million €129 million in 2020. Respectively, Earnings per Share came in at €1.193, an increase of 31% compared to the previous year.
  • €42 per share proposed dividend (own equity shares adjusted), increased by 10.4% compared to 2020.
  • Turnover increased by 40%, stood at €2,664 million, compared to €1,899 million in 2020.
  • 14% increase in Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), which rose to €359 million, compared to €315 million in the previous year.
  • Net Debt stood at €803 million, with leverage (Net Debt/EBITDA) at 2.2x, in a year with record-high capital expenditures, during which major investments are either near-completion or at full swing. 
Find out more here.