Mytilineos posts 47.8 pct rise in 2019 turnover

The Athens-listed Mytilineos group on Thursday announced a 47.8 percent rise in turnover last year and 2.6 percent growth in net profits on an annual basis.

It said its 2019 turnover reached 2.256 billion euros, from 1.526 billion euros in 2018, supported by the strong growth achieved by its power and gas unit.

The group’s earnings before interest, tax, depreciation and amortization (EBITDA) rose 10.4 percent year-on-year to 313.2 million euros, from 283.6 million in 2018; this was thanks to the improved performance of the power and gas unit, the strong profitability maintained by the metallurgy unit despite the soft pricing environment, as well as the positive contribution of the international renewables and storage development (RSD) unit.

Net profits after taxes and minority interests were increased at 144.9 million euros, versus 141.2 million euros in 2018.