Mytilineos - Record-high profitability with strong momentum

Mytilineos achieved record-high profitability in FY21, with a 31% increase in EPS, demonstrating its business model is resilient despite global challenges and providing a platform for even stronger performance in 2022. Q421 EBITDA of €118m outperformed seasonal trends, representing 47% growth versus Q420, driven by very strong performance in the Power & Gas division due to a combination of increased demand for electricity, favourable wind conditions, high efficiency and availability of its plants, along with its ability to source natural gas at very competitive prices. Mytilineos is well funded to support its investment in the energy transition, with financial flexibility of c €1.5bn augmented by strong operating cash flow across all areas of the business. Its annual dividend increased by 10% to €0.42 per share.