METLEN Energy & Metals recorded its highest-ever revenue for a nine-month period, reaching €6.2 billion in the first nine months of 2026, an increase of 21% compared with €5.1 billion in the corresponding period of 2025.
The performance reflects growth across most of the group's business divisions, despite volatility in international energy markets and temporary operational disruptions at one of its major power generation facilities.
The company also reaffirmed its full-year 2026 EBITDA guidance of €1 billion to €1.15 billion, alongside its medium-term EBITDA target of approximately €1.92 billion to €2.08 billion.
Strong Revenue Growth Across Business Activities
According to the company's trading update for the nine months ended September 30, 2026, METLEN maintained its focus on operational performance, commercial expansion and the implementation of its strategic investment programme.
The record revenue demonstrates the scale of the group's activities across energy, metals, infrastructure and international markets.
The increase was achieved despite challenging market conditions, including fluctuations in energy prices and disruptions affecting thermal power generation.
Major Power Plant Returns to Full Operation
One of the significant operational developments during the period was the temporary shutdown of METLEN's largest H-Class thermal power generation unit.
The interruption lasted 44 days, with repairs successfully completed and the facility returning to full operation on October 12, 2026.
Despite this disruption, the company maintained its financial guidance, citing the resilience of its diversified business model.
EBITDA Guidance Confirmed for 2026
METLEN reaffirmed its projected EBITDA range of €1 billion to €1.15 billion for the full financial year.
The company also maintained its medium-term target of approximately €1.92 billion to €2.08 billion.
These projections reflect management's expectations for continued operational development, although actual performance will depend on market conditions and the execution of ongoing projects.
METKA Group and Potential Athens Stock Exchange Listing
The development of METKA Group as an independent infrastructure platform remains a strategic priority.
METLEN is exploring a potential listing of METKA on Euronext Athens, with the aim of supporting its expansion and strengthening its financial autonomy.
The initiative forms part of the group's broader strategy to develop its infrastructure operations and create additional opportunities for investment and growth.
No final listing decision has been announced.
Expanding Energy Storage and International Investments
METLEN continues to expand its international renewable energy and battery storage portfolio.
Among the significant developments is the sale of the Tamarico II hybrid solar and energy storage project in Chile to Copec.
The project combines 165 MW of photovoltaic capacity with 725 MWh of battery storage.
The transaction forms part of METLEN's asset rotation strategy, through which the company develops energy projects and subsequently monetises selected assets.
Meanwhile, major battery energy storage system projects are progressing in Greece and Italy, supporting the group's expansion in the rapidly developing European energy storage market.
Strategic Progress in Gallium and Critical Metals
METLEN is also strengthening its position in the critical raw materials sector, particularly gallium.
The company announced a new long-term commercial agreement with a major Japanese chemical company, while additional offtake agreements are expected.
Gallium is considered strategically important for advanced electronics, semiconductor technologies and certain defence applications.
The group's activities in this sector reflect growing European interest in diversifying critical raw material supply chains and reducing dependence on concentrated international production.
LNG Agreements Strengthen Energy Supply Security
The company is expanding its natural gas supply portfolio through long-term LNG arrangements.
A five-year agreement with PETRONAS provides for six LNG cargoes annually beginning in 2027.
In addition, METLEN signed a binding five-year agreement with Shell Global LNG Limited on November 2, 2026, covering approximately six LNG cargoes annually, equivalent to around 0.6 billion cubic metres per year.
The Shell agreement is intended to support natural gas supplies to Greece and access to additional European markets through the Vertical Gas Corridor.
These arrangements are designed to improve supply diversification and commercial flexibility.
Mytilineos Emphasises Strategic Execution
METLEN Executive Chairman Evangelos Mytilineos highlighted the company's commitment to delivering its strategic objectives despite the challenges affecting international markets.
Management continues to prioritise operational efficiency, disciplined execution and long-term value creation.
The record nine-month turnover, together with the reaffirmation of the company's financial targets, provides an important indication of METLEN's performance heading into the final quarter of 2026.
However, the achievement of its full-year objectives will depend on developments across energy markets, infrastructure activities and the successful implementation of its investment programme.