Metlen Energy & Metals Shares Jump as H1 Profit Hits Record High

Metlen Energy & Metals (LON: MTLN) shares have surged more than 10% on Thursday morning after the Anglo-Greek industrial group posted record first-half results and reaffirmed its 2026 guidance, easing investor concerns following a weaker 2025.

Revenue rose 11% to €3.99bn in the six months to 30 June, while EBITDA jumped 23% to a record €550m, driven by strong performances across Energy & Infrastructure, Metals and Concessions.

Net profit after minorities increased 23% to €313m, lifting earnings per share to €2.18 from €1.81.

Metlen reaffirmed its full-year EBITDA guidance of €1.00-1.15bn and its medium-term target of €1.92-2.08bn, signalling a return to growth after legacy contract issues weighed on 2025 performance.

Management said key milestones had been achieved at the Protos, Grudziądz and Drax projects, though additional completion costs were booked as work nears conclusion.

Balance sheet metrics also improved, with adjusted net debt cut by €728m and net leverage falling to 1.7x from 3.1x at the end of 2025, reflecting strong cash generation and the group’s asset-rotation model.

Executive Chairman Evangelos Mytilineos said the results confirmed the group had “returned to a trajectory fully aligned with its medium-term strategic objectives.”

“The encouraging start to the year reinforces the confidence reflected in the guidance we provided at our Annual General Meeting,” he added. “We are pleased to see that the operational challenges we identified are being addressed, and that the actions we have taken to restore performance delivering tangible results, allowing the business to regain momentum across all of our activities.”