Metlen turnover up 3%

Metlen Energy & Metals announced on Thursday that its January-September turnover rose 3% to 4.2 billion euros, compared to €4.09 billion in the same period last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 6%, reaching €763 million, compared to €722 million last year. Net profit after minorities stood at €482 million, from €462 million in 2023 (+4%).Accordingly, Earnings per Share increased to 3.49 euros from 3.34 euros in the corresponding period of 2023.

“The successful “green” bond issuance of 750 million euros with a five-year duration and an interest rate of 4.00% reflects the trust of international markets and comes as a result of the company’s steady progress in strengthening its credit profile. This is also reflected in the ratings from FITCH and S&P, which, after a series of upgrades in recent years, place METLEN just one notch away from achieving the goal of investment grade, for the first time in its history,” according to the statement.

METLEN continues to make good progress delivering on its growth strategy, backed by its resilient business model, consistently achieving higher levels of performance. This comes at a time of extended geopolitical uncertainty, alongside the significant volatility in the energy markets driven by the challenges of the energy transition, it added.