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METLEN posts record H1 2026 EBITDA of €550 million, keeps guidance

METLEN posts record H1 2026 EBITDA of €550 million, keeps guidance

Operating cash flow cut adjusted net debt by €728 million, while a gallium offtake agreement and 0.4GW of BESS operations marked progress across energy and metals projects.

Fact Check
Every element of the claim is directly confirmed by the official METLEN RNS release and the company press release. The record H1 2026 EBITDA of €550m (+23% vs H1 2025), reaffirmed 2026 guidance of €1.00-1.15bn, €728m adjusted net debt reduction driven by operating cash flow, the first gallium offtake agreement covering 25% of production, and c.0.4GW of energized BESS operations all match the sources precisely.
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Summary

METLEN Energy & Metals PLC reported record first-half EBITDA of €550 million for H1 2026, with revenue rising 11% year on year to €3,987 million, net profit after minorities increasing to €313 million from €254 million, and earnings per share climbing to €2.18 from €1.81. The company reaffirmed 2026 EBITDA guidance of €1.00-1.15bn and a medium-term EBITDA target of c.€1,920-2,080 million, saying strong operating cash flow reduced adjusted net debt by €728 million and lowered net leverage to 1.7x from 3.1x at FY 2025. A first gallium offtake agreement with a leading U.S. technology company covers 25% of total production and, together with c.0.4GW of BESS now operating in Greece and Italy, marked progress on strategic projects. METLEN also said the Protos, Grudziądz and Drax legacy contracts reached key milestones, although additional completion costs were recognized in the period and the remaining works are expected to be finished over the coming months. Evangelos Mytilineos, Executive Chairman of the Company, said the results showed the business had returned to a trajectory aligned with its medium-term strategic objectives.

Terms & Concepts
  • EBITDA: Earnings before interest, taxes, depreciation and amortization.
  • Offtake agreement: Contract to buy a set share of future output.
  • BESS: Battery energy storage systems for storing electricity.