METLEN Delivers Record H1 Performance across all key Financial metrics (incl. Revenues, EBITDA, Net Income, as well as Operating cash flow).
ATHENS and LONDON, Aug. 6, 2026 /PRNewswire/ -- METLEN Energy & Metals PLC (LSE: MTLN) (RIC: MTLN.L) (Bloomberg: MTLN.LN) (Athens: MTLN) (RIC: MTLNr.AT) (Bloomberg: MTLN.GA) (ADR: MYTHY US) today announces its H1 2026 financial results.
- Revenue amounted to €3,987 million, representing an 11% increase compared to €3,608 million in H1 2025, reflecting the strong growth momentum across the Energy & Infrastructure and Concessions sectors
- EBITDA* reached a record first-half level of €550 million, compared to €445 million in H1 2025, reflecting strong performance across all business sectors.
- Net Profit after minorities was €313 million vs. €254 million in H1 2025. The corresponding Earnings per Share came in at €2.18 from €1.81 in the corresponding period of 2025.
- The Company reaffirms both its 2026 EBITDA guidance of €1.00-1.15bn and its Medium-term EBITDA target of c.€1,920 - 2,080 million, confirming that METLEN has returned to its medium-term growth trajectory.
Robust operating cash flow reduced Adjusted net debt** by €728 million, driving Net Leverage** down to 1.7x from 3.1x at FY 2025, reflecting the strength of METLEN's Asset Rotation model, disciplined capital allocation, and strong cash generation.
Deleveraging while delivering: METLEN remains fully on track with all strategic initiatives progressing on schedule and within budget.
- The signing of the first Gallium offtake agreement, with a leading U.S. technology company, covering 25% of total production, represents a significant milestone that de-risks both the alumina expansion and the first gallium production initiative.
- During the period, METLEN successfully energized and now operates c.0.4GW of storage (BESS) projects across Greece and Italy, while advancing a further c.1.6GW across Southern and Southeastern Europe.
- The Company made significant progress on the three legacy contracts that weighed on 2025 performance, achieving key milestones at Protos, Grudziadz and Drax, albeit recognising additional completion costs in the period for these projects, with all remaining works expected to be completed over the coming months.
* Earnings Before Interest, Taxes, Depreciation and Amortization
**Net Debt and Leverage Ratio: reported on an adjusted basis, excluding non-recourse debt, related cash and associated EBITDA
Commenting on the ?1 2026 Financial Results, Evangelos Mytilineos, Executive Chairman of the Company, stated:
"Our strong performance in the first half of 2026 reflects our strong commitment to delivering on the business plan we announced at the Capital Markets Day in April 2025 and underscores our disciplined execution against the objectives we set. It also demonstrates that the challenges we faced during 2025 are being addressed and that the Company has returned to a trajectory fully aligned with its medium-term strategic objectives.
The encouraging start to the year reinforces the confidence reflected in the guidance we provided at our Annual General Meeting. We are pleased to see that the operational challenges we identified are being addressed, and that the actions we have taken to restore performance delivering tangible results, allowing the business to regain momentum across all of our activities.
All of our business segments delivered strong growth during the period, supported by robust cash flow generation and disciplined execution. This performance reflects the strength of our diversified business model and the dedication of our people.
Our unique synergistic model and integrated approach have once again demonstrated their resilience in an environment shaped by heightened geopolitical uncertainty and ongoing trade tensions, which we have consistently shown our ability to navigate and turn into opportunities. These competitive advantages have enabled METLEN to secure important strategic partnerships and further strengthen our position in the international markets.
While we recognise that there is still much work ahead, I am highly encouraged by the progress we have made. As we have consistently demonstrated throughout our history, we remain committed to delivering on our strategic objectives, creating sustainable long-term value for our shareholders and all our stakeholders, with a clear focus on consistently achieving high standards of performance."
To read the full H1 2026 Financial Results Announcement, please visit the following link: h1_26_rns_en_.pdf
Full results
To view Metlen's full half year report for the period ended on 30 June 2026, please paste the following URL into the address bar of your browser: http://www.rns-pdf.londonstockexchange.com/rns/4842P_1-2026-8-5.pdf and on https://www.metlen.com/investor-relations/financial-results/?year=2026 .
Metlen's half year report in full unedited text has also been submitted to the Financial Conduct Authority's National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism, in accordance with DTR 6.3.5(1A) of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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.
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