Mytilineos turnover grows 17% in January-June

Athens-listed Mytilineos on Thursday announced a 17% increase in its first half turnover to 2.516 billion euros, from €2.154 billion in the same period last year.

The company also said its EBITDA rose 9% to €438 million, its net profit after minorities jumped 61% to €268 million and earnings per share soared 59% to €1.94.

Net debt, on an adjusted basis, came in at €1.019 billion, excluding €220 million of non-recourse debt.

Following the most recent upgrade of Mytilineos by Fitch to BB+, the company is now just one notch away from achieving investment grade, for the first time in its history.

It successfully issued a seven-year bond of €500 million with an interest rate of 0% and significant oversubscription, as the total amount offered exceeded €1 billion.

This issue was the first for the Greek market in 2023, while it achieved the highest...