Press Release · METLEN
Nine Months 2026 Trading Update
Distributed by Stream Bulletin · Originally issued via PR Newswire
Delivering Strategic Progress and Strengthening Growth Prospects
ATHENS, Greece and LONDON, Nov. 5, 2026 — METLEN Energy & Metals PLC (LSE Listing: MTLN) (RIC: MTLN.L) (Bloomberg: MTLN.LN) (Athens Listing: MTLN) (RIC: MTLNr.AT) (Bloomberg: MTLN.GA) (ADR: MYTHY US) today announces its Trading Update for the nine months ended 30 September 2026.
As the Company enters the final quarter of the year, the nine-month period reflects continued progress towards its strategic and operational priorities. METLEN remains focused on execution, commercial development and the delivery of its objectives for 2026.
- Revenue amounted to €6.2bn, the highest ever for the 9M period in the Company's history. The figure represents a 21% increase compared to €5.1bn in 9M2025, with increases across most BU's and segments of the Company.
- An extended outage of the biggest thermal power generator (H-Class) kept the plant out of operation for 44 days. Repairs were successfully completed, and the plant returned to full operation on 12 October 2026.
- Against a backdrop of heightened market volatility and temporary disruption to our CCGT operations, the strength and resilience of our diversified business underpin our confidence in reaffirming our FY 2026 EBITDA guidance of €1.00-1.15bn, as well as our Medium-term EBITDA target of €1.92bn – 2.08bn.
- Advanced METKA's strategic development as a standalone infrastructure platform under newly formed METKA Group, including the review of a potential Euronext Athens listing to support growth and financial autonomy.
- Continued de-risking of the MPP business, with First Fire achieved at the PROTOS ERF in Cheshire and the 560 MW CCGT Grudziądz in Poland, as well as further progress across the rest of the legacy portfolio.
- Continued execution of the asset-rotation strategy through the sale of the 165 MW / 725 MWh Tamarico II solar-plus-storage project in Chile to Copec.
- Strengthened commercial momentum for gallium through a new long-term agreement with a major Japanese chemicals counterparty, with additional offtake agreements soon to be announced.
- Continued expansion of the energy-storage portfolio with major BESS projects inaugurated in Greece and Italy.
- Strengthened security and diversification of gas supply through a five-year agreement with PETRONAS for six LNG cargoes annually from 2027.
Evangelos Mytilineos, Executive Chairman, stated: "METLEN continues to execute its strategy with consistency and determination, building on the strength of our diversified business model and the capabilities of our people. Our priorities remain clear: disciplined execution, operational excellence and the creation of sustainable long-term value. While the operating environment continues to present challenges and opportunities, we remain confident in our ability to navigate market developments and deliver on our commitments".
Please visit METLEN's website here to read the full Nine Months 2026 Trading Update.
METLEN Financial Highlights
METLEN has its primary listing on the London Stock Exchange and secondary listed on the Athens Stock Exchange and is a constituent of the FTSE 100 Index. In 2025, METLEN reported consolidated revenue of €7.11 billion and EBITDA of €753 million with net profit of €314 million. Adjusted net debt stood at €2.10 billion, with a Net Debt/EBITDA ratio of 3.1x, reflecting strong financial resilience. METLEN is rated by leading international sustainability and ESG agencies, holding the unique Greek position in the Dow Jones Best-in-Class Emerging Market Index, and distinguished across MSCI, Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG, LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.
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About METLEN:
METLEN Energy & Metals Plc (METLEN) is an international industrial and energy Company, holding a leading position in the metals and energy sectors, focused on sustainable growth and the circular economy. METLEN has established itself as a benchmark in competitive "green" metallurgy at both European and global level, operating the only fully integrated bauxite, alumina and primary aluminium production unit in the European Union, with privately owned port facilities. In the Energy Sector, METLEN provides integrated energy solutions through the implementation of thermal and renewable power generation projects, electricity distribution and trading, as well as investments in network infrastructure, battery storage and other green technologies. METLEN operates across five continents and in more than 40 countries, employing over 8,500 people worldwide and implementing a fully synergistic model across its Sectors.