How the market saw the results of Mytilineos

Of Thanks to Floudopoulos

Analysts strongly describe the results announced yesterday by Mytilineos for the first quarter of the year, as they exceeded market expectations and forecasts.

Typical is the report of Citi which notes that the results confirm that the company will at least double its profitability for 2022.

Despite the very high profits in the first quarter, the analyst expects even greater growth mainly in the aluminum and RES sectors. The metallurgy industry recorded the first of a series of quarterly profit records driven by high prices (LME and Premia) and a very low cost base.

At the same time, the profitability of the Energy sector appears unaffected by geopolitical developments, taking advantage of its significant comparative advantage over the competition, that of the degree of efficiency of its thermal units.

There is also a significant increase in the profitability of the RSE sector where it is estimated that profits will more than double compared to last year with a simultaneous doubling of the profit margin. It is noted that CITI insists on its proposal for BUY, expecting an increase in the profit target for 2022.

But also Euroxx in its own report points out that the record profitability of the quarter, was fed mainly by the metallurgical sector. The stock market report sets a target price of € 23.8 / share with an upward margin of 35%, with the analyst focusing on the continuation of the possible results, in terms of profits, for another quarter, underlining the upcoming update of the forecast for the company’s profitability in 2022.