Mytilineos: Metlen enters its new growth phase from a position of strength, EBITDA target €2 billion

The company’s chief described 2025 as a milestone year in Metlen’s transformation into a strong international industrial and energy group, stressing that despite pressures from an unstable geopolitical and economic environment, the company maintained its growth momentum, strengthened its strategic position, and is now entering a new investment and business cycle.

As he noted, energy markets remained vulnerable to geopolitical developments, while metals markets were affected by shifting supply chains and the broader restructuring of the industrial landscape. Despite these pressures, Metlen’s diversified strategy proved resilient, enabling the company to effectively manage uncertainty and continue investments in both energy and industrial sectors.

At the financial level, the group recorded strong revenue growth, reaching €7.1 billion, driven by the positive performance of its core activities. However, Mytilineos acknowledged that profitability was affected by execution issues in certain energy projects, as well as the timing of portfolio rotation in renewable energy assets. He stressed that these challenges led management to strengthen corporate governance, improve project execution discipline, and upgrade planning processes.

Referring to the growth strategy, he stated that energy and metals remain the two main pillars of the group, alongside the development of new activities in circular metals, defense, infrastructure, and METKA.

In the energy sector, Metlen strengthened its position as an integrated energy company, expanding its activities while Protergia progressed toward its market share targets. The company’s presence in natural gas and LNG remained critical for regional energy security. At the same time, the 330 MW storage project — one of the largest standalone storage systems in Europe — is currently in commissioning and is expected to become operational in Q3 2026.

The group is also executing 87 construction sites across 11 countries, including photovoltaic parks, energy storage projects, and infrastructure for networks and data centers.

He also made special reference to circular metals, noting that the pilot unit is 65% complete and is expected to become operational in Q1 2027, producing oxides of copper, nickel, cobalt, and zinc.