METLEN’s long-term resilience was highlighted by Evangelos Mytilineos during the presentation of the Group’s 2025 financial results. Group turnover reached 7.1 billion euros, marking a 25.1% increase.
However, profitability was significantly impacted by previously announced issues in the MPP segment, with EBITDA standing at 753 million euros, down 30.2%. Mytilineos emphasized the Group’s strong liquidity position of 3.7 billion, up 6%, aimed at supporting investments in 2026, as well as the company’s dividend policy, which—while relating to the previous financial year—also reflects management’s confidence in the company’s outlook for 2026.
Progress toward medium-term targets
With regard to the current financial year, Mytilineos noted that it is expected to mark a return to METLEN’s planned trajectory, with consistent delivery of its medium-term targets, albeit with caution due to ongoing geopolitical developments. “We reiterate our confidence in our medium-term EBITDA guidance of 1.9–2.08 billion through organic growth,” the Executive Chairman stated.
According to the presentation, the medium-term EBITDA target is estimated at 1.1 billion from the energy sector (M Energy), 670 million from metals (M Metals), 150 million from defense (M Technologies), and 150 million from infrastructure (METKA).
During the presentation, particular emphasis was placed on the metals segment, where management expressed strong optimism. Aluminum prices are currently trading at levels significantly above the historical average, while the company’s hedging strategy creates the conditions for robust profit margins. Notably, management is proactively securing favorable London Metal Exchange (LME) prices for the coming years. METLEN has effectively hedged its aluminum and calcined alumina production for 2026 and 2027 at progressively higher price levels, ensuring strong margin visibility. Given the company’s forward hedging strategy of 1–2 years, the benefits from today’s elevated aluminum prices are expected to be reflected from late 2027 onwards. METLEN has also hedged the majority of its key cost inputs, such as natural gas, for 2026 and 2027, further securing margin visibility.
At the same time, METLEN is transitioning toward a “greener” and progressively lower-cost energy mix, supported by both proprietary and third-party renewable energy generation, further strengthening its cost structure. The increasing penetration of renewable energy sources in the company’s electricity mix is expected to deliver structurally lower and more stable costs, significantly reducing exposure to energy price volatility. In addition, the aluminum plant can operate as a “virtual battery,” leveraging periods of low electricity prices driven by excess supply in the market.
These operational and strategic advantages position METLEN among the most competitive global producers of aluminum and alumina. In parallel, the development of critical raw materials is advancing, with a focus on gallium, while other critical metals, including scandium and germanium, are being added to the M Metals portfolio. Circular Metallurgy, which has entered its operational phase, constitutes a new growth pillar expected to significantly enhance profitability in the coming years.
The expansion of defense activities, including the creation of an integrated hub in Volos, is also a key strategic pillar for the Group, with a focus on major European defense projects and partnerships with international defense groups.
In the renewable energy sector, the company is investing in projects combining photovoltaic generation and energy storage.
Its presence in the battery sector, along with international partnerships, is further expanding this segment of the METLEN Group. As of the first quarter of 2026, the company has participated in three BESS (Battery Energy Storage System) projects with a total capacity of approximately 2 GW.
Finally, the infrastructure and concessions segment, through METKA, is demonstrating strong growth. For 2026, the segment is expected to maintain its growth momentum, supported by the continued expansion of construction activities and the execution of new infrastructure projects in both the public and private sectors, despite inflationary pressures on construction materials stemming from ongoing conflicts in Ukraine and the Middle East
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