Mytilineos - Funded energy transition activities drive profitability
Mytilineos’ emissions reduction targets are more aggressive than any pure-play listed aluminium producer. From 2025, we estimate that Mytilineos will qualify for S&P Global Platts’ ‘low-carbon’ classification for its aluminium. This could potentially support above average long-term pricing premiums as customers are increasingly willing to pay a premium for low-carbon products and services. Mytilineos is well funded to support its investment in the energy transition, with financial flexibility of over €1.4bn, augmented by strong operating cash flow. We estimate earnings (EBITDA) derived from energy transition activities will increase from 25% in 2020 to 60% in 2025, which will help drive EPS growth of 16% pa.Mytilineos Holdings is an industrial group engaged in the sectors of Metallurgy, EPC, Energy, and Defence. Co. and its subsidiaries are engaged in three main operating business segments: Metallurgy, Constructions and Energy. Co. and its subsidiaries monitor its performance on Metallurgy and Mining Sector through the subsidiaries Aluminium S.A. (Alumina-Aluminium) and Sometra S.A. (Zinc-Lead). Co., through its subsidiary, METKA S.A., is an EPC Constructor in Greece.
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