Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    MGI – Media and Games Invest

    MCap

    EUR235m

    Last close

    EUR1.50

    ▲ 0.35 (30.21%)

    Melrose Industries

    MCap

    GBP8,167m

    Last close

    GBP6.70

    ▲ 74.80 (12.57%)

    Pan American Silver

    MCap

    USD6,794m

    Last close

    USD20.63

    ▲ 2.00 (10.74%)

  • Sectors

    Sectors

  • Investment Strategy

    Investment Strategy

    View All

    Latest

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

Mytilineos (ASE: MYTIL)

Last close As at 10/05/2024

EUR39.00

▲ −0.06 (−0.15%)

Market capitalisation

EUR5,582m

Mytilineos is a leading industrial company with a global presence. The company is active in Energy and Metals (integrated aluminium smelting). Its renewable energy business is growing strongly organically, with a pipeline of 13GW in solar capacity.

Mytilineos has a portfolio of low-cost energy and metals assets. Its power business benefits from access to relatively low-cost natural gas and its generating and aluminium smelting assets are highly efficient. H124 has seen the signing of a second Polish CCGT project and the continued roll out of renewables with 2,000MW of solar projects, worth up to €2bn, to be developed and constructed over the next three years.

Latest Insights

View More

Industrials | Flash note

Mytilineos — Strong Q1 and plans for potential London listing

Industrials | Update

Mytilineos — Synergies and solar delivering growth

Industrials | Flash note

Mytilineos — Benefiting from diversity and internationalisation

Industrials | Update

Mytilineos — Renewables to drive EBITDA above €1bn/year
Mytilineos_resized
Visit Website

Sector

Industrials

Equity Analyst

Andrew Keen

MD - Head of Content, Energy & Resources, Industrials

Harry Kilby

Analyst

Key Management

  • Evangelos Mytilineos

    CEO and Chairman

  • Yiannis Kalafatas

    CFO

Balance Sheet

Forecast net debt (€m)

1585

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 9.1 2.6 52.6
Relative 4.7 (2.7) 16.0
52 week high/low €39.5/€25.3

Financials

Mytilineos is a leading industrial company with two core activities: Energy (renewables, generation and natural gas supply) and Metallurgy (aluminium smelting) and an international presence in five continents. 2023 proved that the recent acceleration in earnings was not just cyclical, but helped by synergies and organic growth, with FY23 EBITDA being reported at €1.014bn, broadly in line with our estimates. We believe earnings at the EBITDA level are sustainable above €1bn/year and recently raised our valuation for Mytilineos from €36/share to €45/share.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 6306.0 823.0 635.0 341.81 11.4 5.6
2023A 5492.0 1014.0 786.0 450.50 8.7 34.6
2024E 7715.0 1117.0 876.0 483.20 8.1 4.1
2025E 7771.0 1173.0 926.0 518.00 7.5 N/A

Research

Mytilineos_resized

Update

Industrials

Mytilineos — Synergies and solar delivering growth
Mytilineos_resized

Flash note

Industrials

Mytilineos — Benefiting from diversity and internationalisation

Industrials

Flash note

Mytilineos — Strong Q1 and plans for potential London listing
Mytilineos_resized

Update

Industrials

Mytilineos — Renewables to drive EBITDA above €1bn/year

Update

Industrials

Mytilineos — Reaping rewards from proactive management

Outlook

Industrials

Mytilineos — Profiting from energy transition

Flash note

Industrials

Mytilineos — Strong H122 and with continued momentum

Flash note

Industrials

Mytilineos — Added to MSCI Global Standard indices

Update

Industrials

Mytilineos — Well placed to benefit from renewables

Flash note

Industrials

Mytilineos — Record-high profitability with strong momentum

Update

Industrials

Mytilineos — Funded energy transition activities drive profitability
View All

Thematics

thematic

Industrials

Greece – Changing the narrative

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free