9th Sep 2025 09:14
(Alliance News) - Metlen Energy & Metals PLC on Tuesday said 2025 is shaping up to be a "landmark year" as it reported strong interim contributions from its Renewables and Utility businesses.
Athens-based Metlen produces aluminium from its plant in Viotia, Greece, and produces electricity from assets including gas-fired power plants and solar and wind farms. In the UK, it is part of a consortium building an electricity cable between Scotland and north-east England.
Metlen reported pretax profit of EUR290.7 million for the six months that ended June 30, down 16% from EUR345.8 million a year earlier.
Sales however jumped 45% to EUR3.61 billion from EUR2.48 billion, as Metlen recorded a "record-breaking" interim performance from its Renewables and Utility businesses, with a smaller contribution from higher energy prices.
M Renewables sales rose 59% to EUR988.9 million from EUR623.2 million, while sales from the Regional Utility business rose 53% to EUR2.0 billion from EUR1.30 billion.
The Regional Utility business comprises the M Energy Generation & Management, M Energy Customer Solutions, and M Integrated Supply & Trading segments.
The weaker earnings amid the stronger top line can be attributed to increased costs, as cost of sales leapt 57% to EUR3.25 billion from EUR2.07 billion.
Administrative expenses also rose, up 15% at EUR64.4 million from EUR55.9 million, with increased financial expenses further hampering the bottom line as they increased 52% to EUR93.0 million from EUR61.2 million.
The company said it "successfully navigated a volatile market environment" during the period, continuing its "path of strategic expansion."
Shares in Metlen Energy & Metals were down 2.9% at EUR52.80 on Tuesday morning in London.
Earlier this month, Metlen was promoted to the FTSE 100 index as part of the latest quarterly reshuffle, with this change effective from September 22. The company only recently debuted on the London Stock Exchange's Main Market in August.
Chair & Chief Executive Evangelos Mytilineo said: "2025 is shaping up to be a landmark year for Metlen...The financial results for the first half of 2025 once again confirm the strong trajectory Metlen has maintained since its corporate transformation in 2022, solidifying its position at historically high-performance levels.
"With confidence, vision, and a clear strategy, Metlen continues to claim its rightful place among the leading international players in the sector, writing the next chapter of its history with a steady eye on the future."
By Christopher Ward, Alliance News reporter
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