Mytilineos sees net profit, turnover more than double

Mytilineos sees net profit, turnover more than double

Athens-listed Mytilineos said on Thursday its net profit and turnover more than doubled in the first six months of 2022 and predicted that full-year results will be even better.

Net profit after minorities came in at 166 million euros, a 116% increase compared with the corresponding period in 2021. Therefore, earnings per share stood at €1.221, an increase of 116% from the same period last year.

Turnover increased by 117% to €2.15 billion, compared to €994 million in the first half of 2021.

EBITDA reached €293 million, 88% higher than €156 million in H1 2021.

Net debt came in at €945 million, with the leverage ratio falling below 2.0 at a time of significant growth capital spending, laying a solid foundation of long-term growth for the company, while at the same time providing significant support to the Greek economy.

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