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Metlen Shares Jump On Record 9-Month Revenue, Outlook Reaffirmed

Metlen Energy & Metals (LSE: MTLN) shares jumped about 2.3% shortly after the open on Thursday after the company reported record nine-month revenue and reaffirmed its full-year profit outlook.

MTLN.LSE

Revenue for the nine months to Sept. 30 rose 21% to €6.2 billion, the highest for the period in the company’s history, up from €5.1 billion a year earlier. It is also already ahead of the €5.7 billion Metlen generated in all of 2024.

Energy revenue grew 22% to €4.95 billion, Metals rose 6% to €728 million, and Infrastructure and Concessions jumped 50% to €534 million.

The company reaffirmed its 2026 EBITDA guidance of €1.00 billion to €1.15 billion and its medium-term EBITDA target of €1.92 billion to €2.08 billion. It did so despite a 44-day outage at its largest gas-fired power plant, which returned to full operation on Oct. 12 after repairs.

“METLEN continues to execute its strategy with consistency and determination, building on the strength of our diversified business model and the capabilities of our people,” Executive Chairman Evangelos Mytilineos said.

In metals, Metlen has signed two long-term gallium supply deals covering about 25% and up to 16% of the planned annual output from its Greek plant.

The company previously said “it is almost certain” that its entire production of 50MT p.a. will be sold out months before commercial production begins, planned for 3Q 2027.

On Nov. 2, Metlen signed a five-year deal with Shell for six LNG cargoes a year from 2027, adding to a similar agreement with Petronas. The company is also reviewing a potential Euronext Athens listing of its METKA Group infrastructure business.

“While the operating environment continues to present challenges and opportunities, we remain confident in our ability to navigate market developments and deliver on our commitments,” Mytilineos added.

Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples. 

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