Mytilineos remains focused on same goal

Mytilineos remains focused on same goal

The Athens-listed Mytilineos Group on Thursday reaffirmed its forecast that its profitability will double this year compared with 2020, despite the energy crisis, inflation and the war in Ukraine.

Addressing a general shareholders’ meeting, Evangelos Mytilineos, chairman and chief executive officer of the company, rejected talk of unfair and excessive earnings in energy, saying the issue could be discussed on the basis of a voluntary contribution. He stressed, however, that the company has made provisions in order to cover any possible needs for extraordinary taxes.

Mytilineos said that the company will not only achieve its goal to double its profits in 2022 compared with 2020, but that profits will exceed 260 million euros. He said the company’s inclusion in the MSCI index was a life dream and noted that it has already led to an upgrading of the quality of funds placed in the company’s shares, such as the investment fund of Abu Dhabi.

Mytilineos further stated he expected metal prices to remain at high levels this year and added that the company will pay a 0.40-euro-per-share dividend to shareholders (after taxes).

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