Mytilineos continues on its profits course

Athens-listed Mytilineos SA said on Thursday its 2020 operating profits remained unchanged at 2019 levels, despite the pandemic.

The Greek group said operating income (EBITDA) reached 315 million euros, remaining stable compared to 2019. Net profit after minority interests amounted to €129 million, with the annualized earnings per share (annualized EPS) remaining at levels approaching 1.

Net debt came to €538 million, keeping the leverage ratio (net debt/EBITDA) below 2 - i.e. at 1.71 - despite significant investments, dividend payments and the repurchase of 6.14 million shares (4.3% of the total).

The proposed dividend per share (DPS) was €0.36 (adjusted for own shares), corresponding to 41% of net profits compared to 35.5% in 2019.

Commenting on the results, the chairman and chief executive officer, Evangelos Mytilineos, said that 2020 "was undoubtedly...

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