Mytilineos (ASE: MYTIL)

Currency in EUR

Last close As at 25/01/2023

EUR22.86

0.10 (0.44%)

Market capitalisation

EUR3,252m

Mytilineos is a leading industrial company with international presence in all five continents. It is active in Metallurgy, Power & Gas, Sustainable Engineering Solutions (SES) and in Renewables & Storage Development (RSD), operating via a unique synergistic business model.

Mytilineos possesses a portfolio of assets that enjoy low costs. Combined cycle gas turbines benefit from access to relatively low-cost natural gas and low production costs for both alumina/aluminium allow the metallurgy business to be strongly cash flow generative.

Sector

Industrials

Key Management

  • Evangelos Mytilineos

    CEO and Chairman

  • Yiannis Kalafatas

    CFO

Balance Sheet

Forecast net debt (€m)

1124

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 15.6 36.5 54.2
Relative 7.1 18.6 41.7
52 week high/low €22.9/€12.8

Financials

Mytilineos is a leading industrial company with international presence in all five continents. In Q322, Mytilineos reported record results for the fourth consecutive quarter demonstrating the robustness of its business model despite global challenges. Strong maturing pipelines of renewables and sustainable engineering projects should continue to drive growth in the SES and RSD businesses. In November, Mytilineos announced an EPC contract worth €250m for seven energy storage projects in the UK totalling 367.5MW. The contract is with longstanding business partner Gresham House and expected to complete by end-2023. This adds to the 707MW of energy storage projects Mytilineos is developing in Italy, Spain and Australia.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2020A 1899.0 315.0 172.0 92.342 24.8 10.2
2021A 2664.0 359.0 239.0 132.733 17.2 11.2
2022E 5430.0 717.0 544.0 287.435 8.0 6.4
2023E 6142.0 783.0 590.0 323.760 7.1 4.8

Thematics

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

Industrials

The emergence of mega-constellations

Industrials

Internet in the sky

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