A significant increase in sales and net profits is expected in 2019 by the group Mytilineos

Mytilineos MYTr.AT expects sales growth and net profits for 2019, as said today its president, Evangelos Mytilineos, during a presentation to investors institutional.

According to Mr Mytilineos, sales for the year 2019 are expected to exceed 2.2 billion with a net profit of 200 million euros, while the company plans to distribute a dividend of 0.36 euro per share. for the benefit of 2018, compared to 0.32 euro last year. He also noted that pre-tax earnings from EBITDA should balance to the 2017 level.

We are now in a different category. The company is more consistent, safer, more efficient, said Mr Mytilineos in his presentation to institutional investors, stressing that in 2019, the business figure would be released to 2.2 billion euros. euros (vs. 1.5 billion) with EBITDA operating profitability. 400 million euros out of 300 million euros and a net profit of 200 million euros.

Referring to 2020, he predicted a turnover doubling from 2018 to 3 billion euros. As for net debt, it fell to 440 million euros this year, while in 2019, combined with investment, loans would fall below 300 million – the lowest loan in the history of the company.

For the metallurgy sector, the year 2018 was excellent and underlined. It should be continued in 2019.

Positive developments in 2019 are also expected in the field of the CPE, where he explained that the project in Libya (worth 430 million euros) started the other month and that 39, a new project is expected to start in Ghana (363) cm).

Speaking of METKA EGN, he said he expects to absorb 100% of MYTILINEOS, but he is now one of the leading companies in the sector in the world and collaborates with large companies for the realization of projects around the world.

For 2019, the turnover is expected to rise to 400 million euros. Mr. Mytilineos pointed out that, gradually, the company will build not only parks, but also wants to have its own portfolio.

Finally, with regard to the energy sector, he referred to the major changes in the market over the coming years, as the climate change movement will force governments around the world to adopt carbonization policies, noting that the future is renewable, but also, legally, the transition fuel is natural gas.