Return to a growth trajectory with strong cash flows, confirming the target for EBITDA of €1-1,15 billion in 2026
METLEN Energy & Metals PLC recorded a strong performance in the first half of 2026, confirming the momentum of its business model and its return to a growth trajectory, following the challenges faced in 2025.
The company announced EBITDA of 550 million, a record performance for a first half, compared to 445 million in the corresponding period of 2025, while net profit after minority interests stood at 313 million, up from €254 million in the first half of the previous year.
Earnings per share reached 2,18, compared to 1,81 in the first half of 2026, confirming the significant strengthening of the company's operational performance.
METLEN'S turnover increased to 3,987 billion, compared to 3,608 billion in the corresponding period of 2025, marking an 11% increase, with the improvement attributed to the strong growth of the Energy, Infrastructure and Concessions activities.
Confirms guidance for EBITDA 1-1,15 billion in 2026
METLEN simultaneously confirmed its forecasts for the whole of 2026, targeting EBITDA between €1 billion and €1,15 billion, while maintaining its medium term strategic target for EBITDA in the range of €1,92-2,08 billion.
Management emphasizes that the company has returned to the growth trajectory presented during Capital Markets Day in April 2025, with strategic initiatives progressing on schedule and within budget.
Strong debt reduction, Net Leverage retreats to 1,7x
A decisive development is the significant improvement in the company's financial position.
Strong operating cash flows led to a reduction in Adjusted Net Debt by €728 million, limiting the Net Leverage ratio to 1,7x, down from 3,1x at the end of 2025.
This development, according to METLEN, reflects the effectiveness of the Asset Rotation model, disciplined capital allocation, and the company's ability to generate strong cash flows while maintaining its investment momentum.
Strategic milestones in metals, energy, and infrastructure
Significant progress was achieved by METLEN across key strategic initiatives.
The company signed its first gallium offtake agreement with a leading American technology company, covering 25% of total production.
The agreement represents an important step toward de-risking both the expansion of alumina production and the launch of gallium production activity.
At the same time, METLEN completed the energization and now operates energy storage projects (BESS) with a total capacity of approximately 0,4 GW in Greece and Italy, while advancing the development of an additional approximately 1,6 GW of storage projects in Southern and Southeastern Europe.
Regarding the three major contracts that had weighed on performance in 2025, the company announced significant progress on the Grudziądz, Protos, and Drax projects, having achieved key milestones while recognizing additional completion costs.
All remaining works are expected to be completed in the coming months.
Mytilineos: METLEN has returned to a full growth trajectory
The Executive Chairman of METLEN, Evangelos Mytilineos, characterized the first-half results as a strong confirmation of the company's strategy.
As he noted, this performance demonstrates consistency in implementing the business plan presented at Capital Markets Day, as well as the effective resolution of the operational challenges of 2025.
«The challenges we faced during 2025 are being addressed effectively and the Company has returned to a trajectory fully aligned with its medium term strategic goals», he noted.
Mr. Mytilineos emphasized that all business sectors of METLEN recorded strong growth, supported by cash flow generation and the disciplined execution of the business plan.
Furthermore, he stressed that the company's diversified model proves its resilience in an environment of heightened geopolitical uncertainty and trade tensions.
«These competitive advantages allowed METLEN to enter into significant strategic partnerships and further strengthen its position in international markets», he stated.
In conclusion, the Executive Chairman of the company pointed out that significant work remains ahead, but the progress achieved reinforces optimism for the future, aiming to create sustainable long term value for shareholders and all partners of METLEN.
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