REG - Metlen Energy&Metals - TRADING UPDATE Q1 2026

Metlen Energy & MetalsAnnouncement

07/05/2026 07:00

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RNS Number : 3210D  Metlen Energy & Metals PLC  07 May 2026

METLEN ENERGY & METALS

("METLEN", OR "THE COMPANY")

 

TRADING UPDATE Q1 2026

Strong Start to 2026 with Accelerating Strategic Transformation

 

METLEN Energy & Metals PLC (LSE Listing: MTLN, RIC: MTLN.L, Bloomberg:
MTLN.LN | Athens Listing: MTLN, RIC: MTLNr.AT, Bloomberg: MTLN.GA, ADR: MYTHY
US) today announces its Trading Update for Q1 2026. The Company delivered a
strong start to the year, reflecting solid momentum across Energy, Metals and
Infrastructure, together with continued execution of the strategic investment
program, pointing to a speedy return to the medium-term trajectory, announced
in the CMD in London, April 2025.

 

ü Revenue +37% YoY to €2.05bn

ü Energy Sector simplified into two business lines

ü Former MPP activities restructured and integrated into M RESET platform

ü Metals Sector reorganised into three focused growth verticals

ü c.2GW energy storage pipeline secured through strategic partnerships

ü 283MW UK solar portfolio divested under Asset Rotation model

ü Participation secured in VOAK concession project in Greece

ü New London offices

 

 

Evangelos Mytilineos, Executive Chairman stated:

"METLEN has started 2026 with strong operational momentum across all its
business sectors. Our continued investments in energy transition, critical raw
materials and defence, combined with disciplined execution, position the
Company to navigate a complex geopolitical environment while delivering
sustainable growth."

 

 

Strategic Transformation Executed in Q1

Energy Platform Simplification

 

METLEN streamlined its former five energy divisions into two integrated
platforms in 2025:

 

1.    Fully Integrated Utility: Power Generation and retail supply, gas
sourcing and trading

2.    Renewables, Storage & Energy Transition Platform (M RESET): RES
portfolio, asset rotation, storage development, grids and data centers.

 

This new streamlined structure is expected to improve execution speed,
commercial coordination and capital efficiency.

MPP Restructuring Completed

 

MPP, totally overhauled with activities repositioned and integrated into M
RESET, creating a focused platform for selective international opportunities
and disciplined execution.

 

Metallurgy Repositioned for Growth

 

METLEN reorganised its Metals Sector into three strategic pillars,
repositioning to a broader European strategic materials and industrial
technology platform.

 

1.    Vertical Aluminium Value Chain

2.    Critical Raw Materials & Circular Metals

3.    M Technologies (defence and industrial applications)

 

 

 

1.   KEY FINANCIAL FIGURES

 

 Sales in €m.       Q1 2026  Q1 2025  Δ %
 Energy             1,641    1,180    39%
 Metals             234      228      3%
 Infra & Conc.      177      92       92%
 Total              2,052    1,500    37%

 

 

2.   SECTORAL OPERATIONAL UPDATES

 

2.1. Energy Sector

 Energy Sector's split                                 Revenues
 amounts in m. €                                       Q1 2026  Q1 2025  Δ%
 Fully Integrated Energy Utility                       997      940      6%
 Renewables, Storage & Energy Transition Platform      644      240      168%
 Total                                                 1,641    1,180    39%

 

 

·    Strategic agreements with PPC Group and Tsakos Group have
strengthened METLEN's storage pipeline, which now stands at c.2GW across
Greece and international markets.

·      METLEN signed an MoU with Shell for supply of up to 1 bcm p.a.
during 2027-2031.

·      A 283MW UK solar portfolio was sold to Schroders Greencoat,
demonstrating continued execution of the Asset Rotation strategy.

 

2.2. Metals Sector

 amounts in m. €    Q1 2026  Q1 2025  Δ%
 Revenues           234      228      3%

 

 Total Production Volumes (ktons)  Q1 2026  Q1 2025  Δ%
 Alumina                           215      210      2.1%
 Primary Aluminium                 42       45       (4.9%)
 Recycled Aluminium                16       13       19.3%
 Total Aluminum Production         58       58       0.7%

 

 

The Metals Sector benefited from supportive aluminium pricing, resilient
premia and the advantages of METLEN's fully integrated production model.

 

·   During the quarter, METLEN advanced its bauxite, alumina and aluminium
investment program, supported by financing from the European Investment Bank,
including Europe's first industrial-scale gallium production facility. Strong
offtake interest is being observed from the US, Japan and Europe, with offtake
agreements expected soon. Initial production expected in 2027, ramping up to
50 tpa by 2028.

 

·    Similarly, the Circular Metals initiative is progressing well,
supported by positive pilot plant results, with the optimization of the
expansion plan expected to be finalized later this year

 

·    M Technologies continued to scale during the quarter, through the
acquisition of an additional facility (former NK Trailers), bringing total
operational units to six, ahead of initial targets, supporting rising demand
for defence systems. The Company also strengthened its collaboration with
Naval Group, delivering equipment for the FDI frigate programme and signing a
new MoU for potential cooperation on submarine and surface vessel projects.

 

 

2.3. Infrastructure and Concessions Sector

 amounts in m. €    Q1 2026  Q1 2025  Δ %
 Revenues           177      92       92%

 

The Infrastructure and Concessions Sector continued to perform in line with
management expectations, with revenues almost doubling in Q1 2026 versus Q1
2025, while all projects progressed smoothly and on schedule. METKA ATE
maintains a leading market position, supported by strong recognition and a
total backlog exceeding €2.2bn, including projects at an advanced
contracting stage, while actively pursuing new opportunities. Together with M
Concessions, it continues to expand its footprint in PPPs and major
infrastructure projects, supporting long-term value creation.

 

In February 2026, METLEN agreed to participate with a 24% stake in the
Concessionaire DIKTAION PARACHORISEIS Single-Member S.A. at the "Northern Road
Axis of Crete (ΒΟΑΚ) - Chania - Heraklion Section", while METKA ATE agreed
to participate with a 30% stake in the Construction Joint Venture of the same
project. Within the first quarter, METKA signed contracts for the construction
of the Casino and Hotel complex in Maroussi, as well as the Holocaust Museum
in Thessaloniki. It was also declared preferred bidder for the Skaramangas
Triple Interchange project.

 

 

Outlook

 

The first quarter of 2026 confirms METLEN's strong positioning across its
diversified business model, with all Sectors contributing to growth.

 

The Company continues to operate in an environment shaped by heightened
geopolitical tensions and ongoing conflicts, which impact energy markets,
supply chains and defence demand. Nevertheless, these conditions also
underscore the strategic importance of METLEN's synergistic business model,
further strengthened by its activities in energy security, critical raw
materials, and defence solutions.

 

Looking ahead, management maintains a cautiously optimistic outlook for 2026,
supported by a strong project pipeline, increasing demand and prices across
core sectors and continued execution of the Company's investment program.

 

Further details will be provided at the Annual General Meeting scheduled for
21 May 2026, in line with the Company's long-standing practice.

 

 

Cautionary statement / Disclaimer

 

This announcement contains statements that are, or may be deemed to be,
"forward-looking statements". These statements are based on current
expectations, projections and assumptions and are not guarantees of future
performance. Forward-looking statements typically include words such as "aim",
"anticipate", "believe", "estimate", "expect", "intend", "may", "plan",
"project", "seek", "should", "will" and similar expressions, or their
negatives.

 

By their nature, such statements involve known and unknown risks,
uncertainties and other factors which may cause actual results, performance or
achievements to differ materially from those expressed or implied by such
forward-looking statements. These risks and uncertainties include, but are not
limited to, changes in economic conditions, market trends, regulatory
developments, operational challenges, and other factors beyond the Company's
control.

 

No representation, warranty or assurance is given that any forward-looking
statements will be realized. Readers are therefore cautioned not to place
undue reliance on such statements, which speak only as of the date they are
made. Except as required by applicable law or regulation, (including under the
Market Abuse Regulation, the UK Listing Rules and the Disclosure and
Transparency Rules of the Financial Conduct Authority), each of the Company,
its affiliates, officers, employees or agents undertakes no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

 

 

For further information, please contact:

 

Investor Relations

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

Press Office

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

 

About METLEN:

METLEN Energy & Metals Plc (METLEN) is an international industrial and
energy Company, holding a leading position in the metals and energy sectors,
focused on sustainable growth and the circular economy. METLEN has established
itself as a benchmark in competitive "green" metallurgy at both European and
global level, operating the only fully integrated bauxite, alumina and primary
aluminium production unit in the European Union, with privately owned port
facilities. In the Energy Sector, METLEN provides integrated energy solutions
through the implementation of thermal and renewable power generation projects,
electricity distribution and trading, as well as investments in network
infrastructure, battery storage and other green technologies. METLEN operates
across five continents and in more than 40 countries, employing over 8,500
people worldwide and implementing a fully synergistic model across its
Sectors.

METLEN Financial Highlights

METLEN has its primary listing on the London Stock Exchange and secondary
listed on the Athens Stock Exchange and is a constituent of the FTSE 100
Index. In 2025, METLEN reported consolidated revenue of €7.11 billion and
EBITDA of €753 million with net profit of €314 million. Adjusted net debt
stood at €2.10 billion, with a Net Debt/EBITDA ratio of 3.1x, reflecting
strong financial resilience. METLEN is rated by leading international
sustainability and ESG agencies, holding the unique Greek position in the Dow
Jones Best-in-Class Emerging Market Index, and distinguished across MSCI,
Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG,
LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.

www.metlen.com (http://www.metlen.com) | Facebook
(https://www.facebook.com/metlengroup) | X (https://x.com/MetlenSA) | YouTube
(https://www.youtube.com/@MetlenGroup) | LinkedIn
(https://www.linkedin.com/company/metlengroup)

 

 

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