Metlen hails 'step change', backs view but third quarter sales fall
Metlen Energy & Metals PLC shares fell on Thursday as it reported a weaker third quarter, but backed its earnings outlook.
The Athens-based aluminium producer and electricity generator said sales in the third quarter of 2025 fell 12% on-year to €1.51 billion, from €1.72 billion a year prior.
Over the first nine months of the year, however, sales are were up 22% to €5.12 billion from €4.20 billion.
‘In the first nine months of 2025, the company delivered a step change in investment, while at the same time, produced a strong performance across all core business units. Geopolitical uncertainty, trade tensions and heightened volatility in the global energy and metals markets have not obstructed the company’s growth trajectory,’ Chair and Chief Executive Officer Evangelos Mytilineos said.
Metlen began trading on the London Main Market in August, at an initial public offering price of €47.16 per share and €6.08 billion market capitalisation. It marched into the FTSE 100 in the last quarterly index review.
Metlen shares were down 6.0% to €43.00 each in London on Thursday morning, giving it a market value of €6.33 billion. The stock is down 8.8% from its IPO price.
The company on Thursday said it is on track to meet its annual earnings before interest, tax, depreciation and amortisation target.
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