Target price at 48 euros for its share Mytileneos and maintaining an overweight recommendation, Euroxx announced in the wake of the Group’s strong Q1 2024 figures. another international market).
As it characteristically states, Mytilineos announced a “strong set” of results for Q1/2024 and underlines that given the size of the Group, the possible listing on the London Stock Exchange could significantly enhance liquidity. Despite lower energy prices impacting profitability, the 12% increase in quarter-on-year EBITDA (€252m) was around 4% above Euroxx forecasts, widening the Group’s profit margin by 5.5%. Energy EBITDA reached €184 million, up 23% year-on-year, thanks to strong performances from the renewables and thermal power generation plan. Net profit rose 10% year-on-year to €158m – a 6% performance above Euroxx’s forecast. According to the brokerage, Mytilineos maintains “a prudent level of leverage with net debt/EBITDA at 1.6x (excluding non-repayables).
Follow Powergame.gr on Google News for immediate and valid financial information!
Tags: euros target price Mytilineos share