METLEN reaffirmed its 2026 EBITDA guidance after a 44-day outage at its largest thermal power unit, as record nine-month revenue reflected growth across its main business segments.
Revenue reached €6.212 billion in the nine months ended Sept. 30, up 21% from €5.115 billion in the same period of 2025, the company said in a Nov. 5 trading update. METLEN described the total as its highest nine-month revenue.
A hydrogen leak in the H-Class unit’s generator stator cooling system led to the 44-day outage, METLEN said. Repairs were completed before the plant returned to full operation Oct. 12, 2026. The update did not quantify the outage’s financial impact.
The company kept its 2026 EBITDA target at €1 billion to €1.15 billion and its medium-term target at €1.92 billion to €2.08 billion, without giving a date for the latter. For 2025, METLEN reported revenue of €7.11 billion and EBITDA of €753 million.
Energy revenue rose 22% to €4.95 billion, while metals revenue increased 6% to €728 million. Infrastructure and concessions revenue climbed 50% to €534 million. METLEN cautioned that the segment and the newly formed METKA Group have different scopes and are not directly comparable.
METLEN signed an agreement to sell the Tamarico II project in Chile to Copec Flux SpA, backed by Copec S.A. The project combines 165 megawatts of solar capacity with 725 megawatt-hours of storage. The company is also reviewing options for METKA Group, including a possible Euronext Athens listing, which it said could support growth, capital needs and financial autonomy. It announced no decision or timetable.
METLEN reported a five-year agreement with PETRONAS, through PETCO Trading (UK) Limited, for six LNG cargoes annually from 2027, equivalent to about 0.6 billion cubic meters a year. METLEN said the agreement would strengthen the security and diversification of its gas supply.
METLEN expects to begin shipping high-purity metal oxides from its Critical Metals demonstration plant in Thessaloniki before the end of 2026.
