The Mytilineos group has reported that its revenues grew 3.7 percent to €532.7m in the Q1 announced revenue growth of 3.7 percent, to 532.7 million euros, while enjoying a strong cash flow of €1.5bn. The Greek company holds a leading position in the metallurgy and power sectors and has significant operations abroad. The company saw increased profits compared to the first quarter of 2019 thanks to strong natural gas sales, despite reduced electricity rates on the wholesale market.
Compared to the last quarter of 2019, earnings before interest, tax depreciation and amortization showed an increase of 24 percent to €80.6m, while net profit rose nearly 50 percent to €36.4m. While Mytilineos managed to maintain production throughout the crisis, the prices it was able to sell goods at fell.
