Metlen registers record profits in January-June
ATHEX-listed group Metlen achieved a record first-half net profit in the first six months of 2024, with analysts in their initial reactions following the results announcement maintaining a “buy” recommendation for the company’s stock, which is trading at attractive levels.
Moreover, during the presentation of the results to the analysts on Thursday, the company’s president and chief executive officer, Evangelos Mytilineos, said he was optimistic about further growth in all sectors and the comfortable achievement of the goals set for operating profitability of 1-1.2 billion euros and net profits of €600-700 million. “If things go well, we may pleasantly surprise the shareholders,” he noted.
Asked about the imposition of an extraordinary levy on electricity generation from natural gas, Mytilineos spoke of an overreaction by the government.
“These things happen in the markets, especially in times of climate crisis with 15 days of heat in such a large area of Europe. You can already see the prices going down. The first good month after six difficult months was taxed. I can’t make a prediction for August, but it’s possible we’ll see some days of very hot weather next month as well,” he said.
