Greece's Metlen Q1 sales up 31% on the year boosted by energy and infrastructure sectors (updated)

Metlen Energy & Metals SA

24/04/2025 08:27

Adds division details in paragraphs 3-7, context in paragraphs 8-9

April 24 (Reuters) - Greek energy and metals group Metlen MYTr.AT on Thursday reported a 31% year-on-year surge in its first quarter sales revenue, driven by growth in the energy and infrastructure sectors.

The group recorded sales of 1.50 billion euros ($1.70 billion) in the first quarter, compared with 1.14 billion euros in the same period last year.

Metlen said first-quarter sales in its energy division rose to 1.18 billion euros, up from 904 million euros a year ago, with global energy production rising 35% on the year to 3.1 terawatt-hours.

In the retail market, its market share increased to 19.4% from 17.4% the previous year.

The group also stated that its infrastructure and concessions sectors achieved a turnover increase of more than 100% in the first quarter compared with the same period in 2024, with all projects progressing smoothly and on schedule.

Its metals division reported an 11% year-on-year increase in first-quarter revenue, which reached 228 million euros.

However, total aluminum production volumes decreased by 2.1%, while alumina production volumes also saw a 3.3% decline.

Metlen, formerly known as Mytilineos,
announced
 in January an additional 300 million euros investment aiming at extracting critical mineral gallium from the raw materials to make aluminum.

China has imposed restrictions on the exports of gallium, which is used in high-quality semiconductors and smartphones.

($1 = 0.8811 euros)

 (Reporting by Antonis Pothitos; Editing by Louise Heavens)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))