WOOD maintains the recommendation of “BUY” for the share of Mytilineos, repeating the target price of 21 euros.
A price, which, according to a report by the finance firm is 35% above current stock levels.
WOOD analysts maintain their forecast for further profit growth in 2022, expecting a boost in profitability by 44% compared to 2021, and specifically to 517 million euros. Equally important is the fact that the growth of Mytilineos is estimated 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 million 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:
1. The low cost of production of Aluminum and Alumina.
2. The favorable environment for Aluminum
3. The performance of Power & Gas
4. The new power plant that in addition to doubling electricity production, will further improve the efficiency of the company’s fleet.
5. 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.
Latest News
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
Greek 30Y Bond Issue Oversubscribed by 11 Times
Very high demand pushed down the coupon's interest rate to 4.125%
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses