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MTLNUtilities · Utilities - Diversified · ΧΑ

Metlen

€47.90
+0.96(+2.05%)
Close 26/10/2026 · end-of-day price, not real-time

Metlen (MTLN) closed at €47.90 on 26/10/2026, +2.05% on the day. Market cap €6.9bn, P/E 21.8, dividend yield 2.09%.

My view
Private · MENTOR takes it into account
+42.6%6M
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26/10/2026Close 47.90+2.05%+42.6% since start

Key statistics

FY2025 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€6.9bn
Enterprise valueDec 2025est.
€10.1bn
Shares outstandingOct 2026
143.3m
RevenueFY2025
€7.1bn
Employees
6,617
Free floatest.
68.9%
Traded a day, 3-month average
€11.7m

Valuation

FY2025
P/E
21.8×
P/B
2.3×
EV/Salesest.
1.4×
EV/EBITDAest.
13.4×
P/FCF
—

not meaningful here

Dividend yield
2.1%

Margins

FY2025
Gross
6.5%
EBITDA
10.6%
Operating (EBIT)
7.9%
Pre-tax
5.4%
Net
4.4%
Free cash flow
−3.4%

Net margin = the shareholders' profit ÷ group revenue.

Returns

FY2025
ROE
10.5%
ROCE
9.1%
ROICest.
7.7%
ROA
2.8%
ROE, 5-year averageFY2021–25
18.9%
Tax rate
15.0%
Profit to minority holders
3.4%

Financial health

Dec 2025
Cash
€1.8bn
Net debt
€3.1bn
Net debt ÷ EBITDA
4.1×
Debt ÷ equity
163.8%

leases included

Interest coverFY2025
3.1×

Growth

Revenue, last yearFY2025
+25.1%
EPS, last yearFY2025
−50.7%
Revenue, 3 yearsFY2022–25, a year
+4.1%
Revenue, 5 yearsFY2020–25, a year
+30.2%
EPS, 3 yearsFY2022–25, a year
−13.6%

Dividends

FY2025
Yield, last 12 months
2.1%
Per share
€1.000
Payout
45.5%
Covered by free cash flow
−1.7×
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+15.5%
Volatility, 1 year
35.3%
Deepest fall, 1 year / 5 years
−30.8% / −42.0%
52-week range
€32.70–€50.50
est.worked out by usread with care: tap for why

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

no like-for-like peer
MetricMTLN
P/Eone-off21.8
P/B2.3
P/S0.97
EV/EBITDAone-off13.4
Dividend yield2.1%
Payout ratio45.5%
Gross margin6.5%
Operating margin7.9%
Net margin4.4%
ROE10.5%
Revenue growth (last full year)25.1%
Net debt€3.1bn
Twelve Data · latest quarter 31/12/2025

Peers: Industrial groups

No other company listed in Athens runs this business; related ones can be ticked in.

EV/EBITDADay
MetlenMTLN13.4+2.0%
Public Power CorporationPPC7.4+1.9%
ViohalcoVIO7.1+1.9%
ElvalHalcorELHA6.2+0.0%

The company

AI-drafted

A UK-incorporated group with its primary listing in London and a secondary listing in Athens. It generates and supplies electricity and gas in Greece, develops and sells renewable and battery projects internationally, mines bauxite and produces alumina and aluminium at Agios Nikolaos, and builds infrastructure in Greece through METKA ATE.

How it makes moneyH1 2026 · basis: revenue
  • Energy278.6%
  • Metals212.2%
  • Infrastructure & Concessions29.2%
It is
  • An English plc, METLEN Energy & Metals PLC, with its primary listing on the LSE since 4 August 2025 and a secondary listing on ATHEX, under the same ticker MTLN.1,5
  • An energy group first: Energy was 79% of FY2025 revenue, Metals 13% and Infrastructure 8%.4
  • The only vertically integrated producer of bauxite, alumina and both primary and secondary aluminium in South-East Europe.1
It is not
  • No longer "Mytilineos": the name changed in June 2024 and the Greek company is now a wholly owned subsidiary, not the listed entity.6,1
  • Not a regulated utility on a guaranteed tariff: it is the largest independent generator and supplier in Greece's liberalised market.4,3
  • Not a bet on the spot aluminium price: output is hedged through 2028, and a $50/t LME move shifts group EBITDA by about €0.1m.3,1
Recent developmentsAll company events →
  • Sep 2026Announced almost €25m of new EPALME investment in recycled-aluminium processing.13
  • Sep 2026Agreed with PETRONAS on six LNG cargoes a year, about 0.6 bcm, for five years from 2027.12
  • Sep 2026Agreed to sell the Tamarico II hybrid project in Chile, 165 MW of solar and 725 MWh of batteries, to Copec.11
  • Aug 2026Disclosed a 129 MW/362 MWh UK battery contract and €18m financing for an Italian battery project.10
  • Aug 2026Acquired Joule, a Greek software company for managing renewable and storage projects.9
  • Jul 2026Signed its first long-term gallium supply agreement for about 25% of planned output.8
Key figures
  • Greek retail electricity market share 21.5% H1 20263
  • Renewables in operation 1.2 GW H1 20263
  • Installed thermal capacity, three CCGTs 1,707 MW FY20251
  • Aluminium production 118 kt H1 20263
  • Net debt €2,612m H1 20262
Key facts
  • Evangelos Mytilineos, the Executive Chairman, holds 22.0% of the voting rights; Fairfax holds 8.3%.7,2
  • Guidance of €1.00-1.15bn EBITDA for 2026 and a medium-term target of about €1.92-2.08bn.3
  • A dividend of €1.00 per share for FY2025, paid on 16 July 2026, under a policy of distributing roughly 35% of net profit.2
  • A share buyback of up to €600m running to June 2031, executed in both London and Athens.2
  • Its gallium plant, the first industrial-scale one in Europe, targets first production in H2 2027.3,8
Sources
  1. 1.2025 Integrated Annual ReportMETLEN Energy & Metals PLC · 09/04/2026official
  2. 2.2026 Half-Year ReportMETLEN Energy & Metals PLC · 06/08/2026official
  3. 3.Financial Results H1 2026METLEN Energy & Metals PLC · 06/08/2026official
  4. 4.Financial Results for the year ended 31 December 2025METLEN Energy & Metals PLC · 09/04/2026official
  5. 5.METLEN begins trading on the London Stock ExchangeMETLEN Energy & Metals · 04/08/2025official
  6. 6.Announcement of change of business nameMetlen Energy & Metals S.A. · 18/06/2024official
  7. 7.TR-1 notification of major holdingsMETLEN Energy & Metals PLC · 12/08/2026official
  8. 8.METLEN Signs Landmark Gallium Supply AgreementMETLEN Energy & Metals · 29/07/2026official
  9. 9.METLEN acquires JouleMETLEN Energy & Metals · 18/08/2026official
  10. 10.European battery-storage projectsMETLEN Energy & Metals PLC · 26/08/2026official
  11. 11.Tamarico II sale agreement with CopecMETLEN Energy & Metals PLC · 10/09/2026official
  12. 12.PETRONAS LNG supply agreementMETLEN Energy & Metals PLC · 14/09/2026official
  13. 13.EPALME recycled-aluminium investmentMETLEN Energy & Metals PLC · 22/09/2026official
AI-drafted from the cited sources · 30/09/2026 · v3 · ✓ checked by an independent second modelMetlen Energy & MetalsWebsite ↗
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.