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METLEN Energy & Metals Achieves Record Financial Results for 2024

On February 20, 2025, METLEN Energy & Metals (RIC: MYTr.AT) disclosed its financial outcomes for 2024, revealing remarkable growth amid fluctuating market conditions. The company reported a turnover of €5,683 million, surpassing €5,492 million from the previous year despite notable declines in energy and natural gas prices. This 3% increase underscores METLEN's resilience and strong market position in challenging circumstances.

The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached an impressive €1,080 million, marking a 7% growth from €1,014 million in 2023. This record high reflects the solid performance of both METLEN's Energy and Metals divisions, which contributed significantly to the overall results. However, net profit after minorities recorded a slight dip to €615 million compared to €623 million in 2023, with earnings per share declining marginally to €4.46.

With an eye towards its shareholders, METLEN proposed a dividend of €1.50 per share, with plans for a potential upward adjustment based on treasury shares at the ex-dividend date. Additionally, the company maintained a healthy adjusted net debt of €1,776 million, with a net debt to EBITDA ratio of 1.7x, adhering closely to METLEN's financial guidelines despite ongoing capital expenditure initiatives.

Strategic Developments

A pivotal development for METLEN in 2024 was the establishment of an 11-year agreement with Rio Tinto. This landmark partnership will enhance bauxite supply security while facilitating the profitability of additional alumina quantities, expected to increase by 400,000 tons annually under competitive conditions.

Chairman and CEO Evangelos Mytilineos expressed pride in the company's financial performance, emphasizing that it reflects METLEN's successful strategies and innovative approaches. He highlighted the company's ambitions for significant growth, particularly noting the new industrial investment in Bauxite, Alumina, and Gallium production, setting the stage for what he termed the