Mytilineos S A : Flash Note Οικονομικών Αποτελεσμάτων Α' Εξαμήνου 2021 27-07-2021
07/27/2021 | 03:50am EDT
Financial Results 1H 2021
Chairman's Message 03
Key Highlights 04-06
Calendar of Events 07-08
Basic Financial Figures 09-12
Business Units 13-35
Risks-Subsequent Events 36-37
"MYTILINEOS 1H 2021 financial results, confirms that the Company is on track to achieve record high profitability in 2021, while implementing in parallel its investment plan, in line with the ambitious environmental goals it has set.
In the forthcoming quarters, despite the uncertainties due to the pandemic, MYTILINEOS' financial performance is expected to be significantly enhanced, as demand, aluminum prices and premiums continue to increase, while electricity prices and consumption are growing in tandem. Meanwhile, the Renewables & Storage Development BU and the Sustainable Engineering Solutions BU are executing the existing contracts without any delays, while the Company also expects to benefit from fruition of significant investments that are gradually getting completed (increase in Aluminum capacity production to 250,000 tn -project new era 250-, commissioning of the new 826MW CCGT plant, significant investments in RES both in Greece and abroad)"
Strong Commitment to ESG and Health & Safety, Targeting to Achieve Net Zero by 2050
on total CO2 emissions
(Scope 1 & 2)
SES BU &RSD BU
Power & Gas BU
on total CO2 emissions
(Scope 1 & 2)
Unit by 2030
CO2emissions per MWh
of relative CO2
emissions per ton of
vs. 2019 level
We strive for our business success,
alongside our long-term
commitment to Sustainable
We further embed Sustainability in our corporate DNA.
We place the ESG criteria at the core of our strategy, decision-making and operations.
We are committed to continuous monitoring, disclosure & transparency of our performance.
We support the achievement of the
most relevant UN Sustainable
Development Goals (SDGs) for our
activities, by 2030.
Financial Results 1H 2021 Key Highlights
On-trackto achieve record-high profitability in 2021
Net Profit of €77m up c.11% YoY
Excluding the effect of one-off items, the increase in Net
Profit stands at 51%, on an adjusted basis for both periods
Compared to 1H 2020:
EBITDA came in at c.€156m, up 7% YoY or 29% on an adjusted basis
Net Profit margin improved by 28 b.p. to 7.7% from 7.5%
EPS, increases by c.16% vs. 2020
Compared to 2Q 2020:
2Q 2021 Net Profitincreased by
2Q 2021 EBITDAisup c.16%
WACC has further decreased by c.6% to 5.7%, among others due to the
declining Cost of Borrowing
(c.2.5% from c.2.6% previously)
Leverage remained low, despite elevated Capital expenditure payments (mainly Growth CAPEX)
Net Debt stood at €652m vs €536m at end-2020
We have secured c.€1.5bn war- chest,including Cash at hand and undrawn Credit lines, to fund Growth
Comprising of c.€0.6bn in Cash and c.€0.9bn of undrawn committed Credit lines, without any major short-to-medium-termdebt maturities
FY2020 c.€50m Dividend
payment (final payment of c.€0.38/share), increasing payout ratio to c.41% from c.35% in 2019 (post-reporting period event)
Established track record of consistent and sustainable Dividend-payments
Since 2017 MYTILINEOS has distributed dividends in excess of €200m (c.10% of current Mkt Cap.)
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Mytilineos Holdings SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 07:49:01 UTC.