METLEN posts record nine-month revenue of €6.2bn

Revenue growth was recorded across most of METLEN’s business units and segments, the company said in its trading update on November 5. It maintained its 2026 EBITDA guidance of €1.00 billion to €1.15 billion and its medium-term target of €1.92 billion to €2.08 billion, citing the resilience of its diversified business amid market volatility and temporary disruption to its combined-cycle gas turbine operations.

The outage affected an H-Class generator. Repairs were completed and the plant returned to full operation on October 12, 2026. METLEN also reported progress on several strategic initiatives, including developing METKA as a standalone infrastructure platform under the newly formed METKA Group. The company is reviewing a potential listing on Euronext Athens to support the platform’s growth and financial autonomy.

In its power projects business, METLEN said first fire had been achieved at the PROTOS energy-from-waste facility in Cheshire and at the 560 MW Grudziądz CCGT plant in Poland. It also sold the 165 MW/725 MWh Tamarico II solar-plus-storage project in Chile to Copec as part of its asset-rotation strategy.

Other developments included a long-term gallium agreement with a major Japanese chemicals counterparty, with further offtake agreements expected to be announced soon; the inauguration of major battery energy storage system projects in Greece and Italy; and a five-year agreement with PETRONAS for six LNG cargoes a year from 2027.

Executive Chairman Evangelos Mytilineos said the company remained focused on disciplined execution, operational excellence and sustainable long-term value, and was confident in its ability to meet its commitments.