Buy recommendation with a target price of 21 euros sets for the share of Wood Mytilineos report. Specifically, the WOOD analyst maintains his forecast for further profit growth in 2022, expecting a 44% increase in profitability compared to 2021, to 517 million euros. Equally important is the fact that the company’s growth is expected to continue dynamically after 2022, as WOOD predicts a return to profitability of almost 10% per year from the new highs of 2022, with the estimate for EBITDA in 2023 and in 2024 to be at 561 and 607 million euros respectively.
The report predicts that MYTILINEOS will continue to grow at an average rate of close to 25% for the coming years, due to a number of comparative advantages of the company over the competition, such as:
– The low cost of production of Aluminum and Alumina.
– The favorable environment for Aluminum
– The performance of Power & Gas
– The new power plant that in addition to doubling electricity production, will further improve the efficiency of the company’s fleet.
– The strengthening of the Renewable Sources & Energy Storage sector, which now has 2GW of mature projects and other 3GW projects at an early stage of development, increasing the total power of the company’s RSD BOT portfolio to 5GW.
Source: Capital
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