Metlen: record €6.2 billion revenue in nine months, up 21%; 2026 EBITDA target confirmed

Metlen Energy & Metals, listed in London and Athens, announced on 5 November turnover of €6.2 billion for the first nine months of 2026, the highest in the company's history for that period and 21% above the €5.1 billion of 2025. The group confirmed its 2026 EBITDA guidance of €1.00–1.15 billion and its medium-term target of about €1.92–2.08 billion.

The figures. The energy division brought in €4.95 billion (+22%), metals €728 million (+6%) and infrastructure and concessions €534 million (+50%), according to Powergame. The group generated 6.5 TWh of electricity, of which 5.9 TWh from thermal plants and 0.6 TWh from renewables, and supplied 47 TWh of gas in Greece and other European markets. Supplier Protergia held a 21.3% share of the electricity market, according to transmission operator ADMIE data, with 7.9 TWh supplied, and 28.1% of the gas market.

The outage. The group's largest thermal unit, an H-class plant, was offline for 44 days after a hydrogen leak in the generator cooling system. Repairs were completed and the unit returned to full operation on 12 October.

Storage and gas. In Thessaly, a 330 MW / 790 MWh battery project developed with the Karatzis Group was connected to the transmission grid, and the 48 MW / 96 MWh Aenaos project in Polygyros (Chalkidiki) was completed. For gas, Metlen has a five-year agreement with PETRONAS for six LNG cargoes a year from 2027, and on 2 November it signed a similar binding agreement with Shell Global LNG for about 0.6 billion cubic metres a year.

What management says. Executive Chairman Evangelos Mytilineos said Metlen "continues to execute its strategy with consistency and determination" and that its priorities remain disciplined execution, operational excellence and the creation of sustainable long-term value.

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