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METLEN Reports Record Financial Performance for the First Half of 2026

On August 6, 2026, METLEN Energy & Metals PLC, listed on the London Stock Exchange under the ticker MTLN, announced its financial results for the first half of 2026, showcasing impressive growth and operational success across all key financial indicators.

Financial Highlights

For the first six months of 2026, METLEN reported a remarkable revenue of €3.987 billion. This reflects an 11% increase from the €3.608 billion recorded in the same period of the previous year. This growth can be attributed to a robust demand environment in both the energy and infrastructure sectors, as well as successful concessions.

The EBITDA soared to a record €550 million for the first half, rising from €445 million in the same timeframe of 2025. This improvement underscores the solid performance across various business segments. The net income attributable to the group was reported at €313 million, up from €254 million, translating to an increase in earnings per share from €1.81 to €2.18.

METLEN reiterated its EBITDA forecast for the full year of 2026, expected to be between €1 billion and €1.15 billion, alongside its medium-term EBITDA target of approximately €1.92 billion to €2.08 billion, thus confirming its trajectory for sustained growth.

Debt Reduction and Cash Flow Strength

The company also highlighted the substantial operational cash flows that led to a reduction in adjusted net debt to €728 million, improving the net debt to EBITDA ratio to 1.7 times, down from 3.1 times at the end of 2025. This significant debt reduction illustrates METLEN's effective asset rotation model and disciplined capital allocation strategy, coupled with its strong cash generation capabilities.

METLEN is continuing to execute its strategic initiatives within budgetary limits. A notable recent milestone was the signing of a significant gallium purchase agreement with a leading U.S. technology firm, securing 25% of its total production. This development mitigates risks associated with both the alumina production expansion project and the gallium production launch.

The company has also successfully commissioned approximately 0.4 GW of battery energy storage systems in Greece and Italy, while progressing with an additional 1.6 GW in southern and southeastern Europe.

Progress on Previous Contracts

During this period, METLEN advanced significantly on three inherited contracts that had previously burdened its 2025 performance. Key milestones were achieved at Protos, Grudziądz, and Drax, although additional costs related to completing these projects were noted. The remaining work on these contracts is expected to be completed in the coming months.

Leadership Insights

Evangelos Mytilineos, the Executive Chairman of METLEN, commented on the results: "Our outstanding performance in the first half of 2026 reflects our unwavering commitment to executing our business plan announced during the capital markets day in April 2025. It highlights our rigorous approach to achieving our set objectives, while resolving the challenges faced in 2025. This encouraging start to the year strengthens the confidence in the forecasts presented at our annual general meeting, affirming that operational hurdles are being addressed and our remedial measures are yielding positive results."

He further stated, "All of our business segments experienced significant growth during this period, driven by strong cash flow generation and rigorous execution. These results underscore the resilience of our diversified business model and the dedication of our teams. Our unique synergistic model and integrated approach have once again demonstrated resilience in a context marked by heightened geopolitical uncertainties and ongoing trade tensions, which we have managed to navigate and convert into opportunities."

Future Directions

While acknowledging that there is still much work to be done, Mytilineos expressed optimism about the progress achieved so far. "As demonstrated throughout our history, we remain committed to achieving our strategic goals and creating long-term sustainable value for our shareholders and all stakeholders, while consistently adhering to high performance standards."

For those interested in further details, the complete press release and the full semi-annual report can be accessed via METLEN’s investor relations webpage. The report has also been submitted to the National Storage Mechanism of the Financial Conduct Authority, guaranteeing accessibility for stakeholders interested in METLEN's ongoing performance.

About METLEN

METLEN Energy & Metals Plc is an international industrial and energy company, positioning itself as a leader in the metals and energy sectors. Focused on sustainable growth and the circular economy, METLEN has become a benchmark in competitive green metallurgy globally. The company operates on five continents and in over 40 countries, employing more than 8,500 individuals worldwide and implementing a fully synergistic model across all its segments.