Metlen Energy & Metals profit rises and backs annual guidance
Metlen Energy & Metals PLC on Thursday affirmed annual guidance, after higher natural gas trading activity boosted half-year earnings.
The Athens-based aluminium producer and electricity generator said pretax profit in the six months to June 30 shot up 25% to EUR363.1 million from EUR290.7 million.
Revenue increased 11% to EUR3.99 billion from EUR3.61 billion a year prior.
The top line hike was mainly attributed to its Energy division, where revenue increased 7.5% year-on-year to EUR3.13 billion.
"Higher natural gas trading activity was the main driver of this increase," Metlen said.
Metals sector revenue edged up 1.0% on-year to EUR485 million. Infrastructure & Concessions revenue was 74% higher at EUR368 million.
Executive Chair Evangelos Mytilineos said: "The encouraging start to the year reinforces the confidence reflected in the guidance we provided at our annual general meeting. We are pleased to see that the operational challenges we identified are being addressed, and that the actions we have taken to restore performance delivering tangible results, allowing the business to regain momentum across all of our activities."
At its AGM in May, Metlen predicted record 2026 revenue and an earnings before interest, tax, depreciation and amortisation between EUR1.0 billion and EUR1.5 billion, the top of that range representing a 99% hike from EUR753 million in 2025. Revenue in 2025 totalled EUR7.11 billion.
Metlen's first half Ebitda rose 23% year-on-year to EUR550 million from EUR445 million.
Mytilineos added: "While we recognise that there is still much work ahead, I am highly encouraged by the progress we have made. As we have consistently demonstrated throughout our history, we remain committed to delivering on our strategic objectives, creating sustainable long-term value for our shareholders and all our stakeholders, with a clear focus on consistently achieving high standards of performance."
Metlen shares rose 0.7% to EUR48.76 each in London on Thursday morning, for a EUR7.26 billion market capitalisation. Metlen listed in London around this time last year. Shares are up 3.4% from its EUR47.16 listing price.
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