Mytilineos reported solid revenue and EBITDA growth in H1, boosted by the power & gas business. Mytilineos is trading on low short-term multiples (c 8x FY19 P/E and 5x EV/EBITDA), but we believe the stock is even more attractive for investors focused on the strong growth potential driven by long-term projects, which, in our view, the company can finance mostly with its robust cash flow generation. We forecast a 15% net income CAGR in FY19e-22e with the new gas-fired power plant as key driver.Den vollständigen Artikel lesen ...