Greek energy group Metlen first-half profit falls 6%, as one-off hit weighs (updated)

Metlen Energy & Metals SA

09/09/2025 08:16

Adds revenue figure in paragraph 4, division details in paragraphs 5-6, outlook in paragraphs 7-8

Sept 9 (Reuters) - Greek energy and metals group Metlen MYTr.AT on Tuesday reported a 6% drop in first-half core profit, as record results in its renewables and utility businesses were offset by a one-time charge at its M Power Projects unit.

The group posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 445 million euros  ($523.99 million) in the January to June period, compared to 474 million a year ago.

Excluding the one-off charge, normalised EBITDA would have been about 577 million euros, it said.

Turnover surged 45% to a record 3.61 billion euros, compared with 2.48 billion euros in the same period last year, driven by strong performance in its energy segment.

Energy revenue jumped 47% to 2.92 billion euros, with the renewables unit achieving record profitability, supported by asset sales totaling 788 MW and increased electricity generation from renewable energy sources.

Metals revenue climbed 16% to 480 million euros, though EBITDA for the segment slipped 9%, impacted by higher power costs and foreign exchange headwinds.

Metlen expects a "substantially" improved second half of the year and sees 2025 EBITDA exceeding 1 billion euros.

It also reaffirmed its medium-term EBITDA targets of between 1.90 billion and 2.08 billion euros, citing progress on new projects, including a gallium production line with expected first output in 2027, a defence centre in Volos, Greece and a circular metals pilot plant slated for commissioning in October 2025.

($1 = 0.8493 euros)

 (Reporting by Antonis Pothitos; Editing by Kirsten Donovan and Louise Heavens)

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