Mytilineos Group says turnover 1.246 billion euros in 2016

Mytilineos Group on Tuesday said its consolidated turnover totaled 1.246 billion euros in 2016, from 1.383 billion in 2015, reflecting a reduced contribution of the EPC sector. EBITDA was 222.4 million euros in 2016, from 234.4 million in 2015, while net after tax and minorities earnings totaled 34.2 million euros, down from 47.5 million in 2015.

The metals and mining sector reported a turnover of 447.9 million euros in 2016 from 549.4 million in 2015, while EBITDA fell to 84.3 million euros from 98 million in 2015. Average aluminium prices (LME+Premium) fell 14 pct in 2016 negatively affecting the sector’s performance. However, recent positive developments in commodities markets with a significant recovery of aluminium prices and a strong US dollar parity, positively affected fourth quarter results. EBITDA jumped 79 pct in the fourth quarter to 30.4 million euros from 17 million in the third quarter.

In the EPC sector, Metka reported a turnover of 445.1 million euros in 2016, from 668 million in 2015, with EBITDA falling to 74.9 million euros in 2016 from 116.4 million in 2015, while net after tax and minorities earnings fell to 53.3 million euros from 68.9 million in 2015. Metka plans to pay a 0.15 euro per share dividend to shareholders (gross). The company said it fourth quarter EBITDA was boosted by a non-repeat revenue of 35.8 million euros (compensation from the implementation of a project in Deir Ali in Syria).

In the energy sector, Mytilineos Group reported a turnover of 363.8 million euros in 2016 from 187.1 million in the previous year, an increase of 94.4 pct. EBITDA jumped to 65.3 million euros from 22.4 million in 2015. Energy production units recorded a 75 pct increase in 2016 with a market share of 10 pct, up from 5.7 pct in 2015, while Protergia ranked first among private energy suppliers in the country.

Mytilineos Group is a leader in the metals, mining, energy and EPC project sectors. It was founded in 1990 and it is listed in the Athens Stock Exchange. Annual turnvoer surpasses 1.3 billion euros and its workforce exceeds 2,700 in Greece and abroad.