REG - Metlen Energy&Metals - METLEN UPDATES 2025 GUIDANCE; REAFFIRMS OUTLOOK

Metlen Energy & MetalsAnnouncement

06/02/2026 10:45

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RNS Number : 0798S  Metlen Energy & Metals PLC  06 February 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 ("EU MAR") AND ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN
THE UNITED KINGDOM (THE "UK") BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018 ("UK MAR").

 

Metlen Energy & Metals PLC

(the "Company")

 

METLEN UPDATES ITS 2025 GUIDANCE AND REAFFIRMS ITS MEDIUM-TERM OUTLOOK

 

The Company today announces that, whilst its underlying core business has
performed robustly and in line with expectations, due to unanticipated cost
overruns in its M Power Projects (MPP) business and the timing of the closing
of certain transactions in its asset rotation plan of M Renewables, the
Company will not achieve its EBITDA target, and now expects 2025 EBITDA to
come c. 25% lower.

Additional background is set out below:

1.   M Power Projects Challenges

At its half year 2025 results, the Company announced that the performance of M
Power Projects (now part of the Renewables, Storage & Energy Transition
 MRES‑ET ) had been impacted by unforeseen challenges primarily at the
Protos project in the UK, leading to higher costs and timeline extensions.

As part of the enhanced policies and procedures put in place following the
Company's listing on the London Stock Exchange, new quarterly reviews of all
projects are undertaken to ensure that the costs, timelines and budgets are in
line with expectations. As part of the Company's ongoing Q4 and FY2025 closing
process, the Company has also identified additional cost overruns and schedule
delays solely impacting the performance of MPP without affecting its core
activities. Impacted projects are now expected to be completed on time and
within the revised budget.

Management has already put in place additional operational controls and
measures to enhance oversight of these projects going forward. In parallel, as
part of the recent corporate transformation "Big 3", the former M Power
Projects division has now been fully re-organized and integrated into the new
MRES‑ET segment, which builds on the internationally successful MRES
business.

2.   Timing of Closing of M Renewables Asset Rotation Plan Transactions

Three M Renewables asset rotation transactions (UK, Spain and Australia) were
originally expected to close by the end of calendar year 2025. The closing of
the UK transaction was announced on 4 February 2026.

 

The annual audit of the Company's consolidated full year 2025 results is
ongoing and results are scheduled to be published on 31(st) March 2026. METLEN
retains a strong balance sheet, with liquidity above €4bn at end-2025 and
adjusted net debt broadly in line with H1 2025 at c.€2bn, demonstrating
resilience and steady execution across its core business. Underlying
profitability adjusted for MPP losses would have been in line with prior
guidance of €1bn EBITDA.

2026's performance has started well, reflecting strong market trends, positive
performance of the Company's core business and good progress of ongoing
initiatives across its growth pillars.

The Company's medium-term guidance, as announced during its 2025 Capital
Markets Day in April 2025, remains unchanged at €1,900-2,080 million of
EBITDA in the medium term through organic growth, while potential M&A
transactions in Western Europe expected to reach final decision stage in the
short term.

 

Important Notices:

The person responsible for arranging the release of this announcement on
behalf of Metlen PLC is Leda Condoyanni, Company Secretary

LEI number: 213800ZSR3HVKMMPVG86

 

Enquiries:

For further information please contact

Investor Relations

Tel. +30 210-6877300 | Fax +30 210-6877400 | E-mail: ir@metlengroup.com
(mailto:ir@metlengroup.com)

Press Office

Tel. +30 210-6877346 | Fax +30 210-6877400 | E-mail:
communications@metlengroup.com (mailto:communications@metlengroup.com)

 

Disclaimer

This announcement contains statements which are or may be deemed to be
'forward-looking statements'. Forward-looking statements involve risks and
uncertainties because they relate to events and depend on events or
circumstances that may or may not occur in the future. All forward-looking
statements in this announcement reflect the Company's present view with
respect to future events as at the date of this announcement. Forward-looking
statements are not guarantees of future performance and actual results in
future periods may and often do differ materially from those expressed in
forward-looking statements. Except where required by law or regulation, the
Company undertakes no obligation to release publicly the results of any
revisions to any forward-looking statements in this announcement that may
occur due to any change in its expectations or to reflect any events or
circumstances arising after the date of this announcement.

 

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