BUSINESS

Mytilineos announces earnings increase in H1

TAGS: Business, Energy

The Mytilineos group on Wednesday announced a 4 percent increase in after-tax and minority rights earnings over the first half of the year, reaching up to 83.9 million euros, from 80.7 million a year earlier.

Earnings per share amounted to 0.587 euros against 0.564 euros in the first half of 2017.

Turnover shrank 11.6 percent from 811.4 million to 717.1 million euros, and earnings before interest, tax, depreciation and amortization (EBITDA) reached 145.2 million euros, down 7.3 percent from last year’s 156.5 million euros.

This is mainly attributed to the electrical energy sector, which saw a drop in demand due to the mild weather and the wide availability of water resources for power production.

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