Metlen Projects Explosive EBITDA Growth to €2 Billion by 2028

12:44 21/2/2025 - Πηγή: Dikaiologitika

Greek industrial and energy giant Metlen expects its earnings before interest, taxes, depreciation, and amortization (EBITDA) to nearly double over the next four years, reaching €2 billion by 2028, up from €1.08 billion in 2024.

The projection, shared by Chairman and CEO Evangelos Mytilineos on Thursday

during the company’s 2024 financial results presentation, foresees an 85.19% increase in EBITDA, which is expected to be achieved organically without factoring in potential acquisitions. While Mytilineos confirmed that acquisitions are part of Metlen’s broader strategy, he declined to provide specific details despite repeated questions from analysts.

Addressing capital expenditures, Mytilineos reassured investors that spending levels would not return to the €1 billion recorded in 2023 and would remain below the €800 million level of 2024. He also touched on the company’s energy division, where EBITDA in 2024 slightly lagged behind 2023 levels. He attributed this to Metlen’s efforts to expand its market share from 20% to 30%, emphasizing that the company is making significant strides in the development, construction, and management of battery energy storage systems. Metlen’s total global storage capacity has now reached approximately 0.7GWh, a key milestone in its energy transition strategy.

Analysts pressed Mytilineos on Metlen’s recent agreement with Rio Tinto, particularly regarding the deal’s profit margins and whether alumina prices would be locked in. While he refrained from offering detailed financial terms, he emphasized that the agreement would provide dual benefits for the company. It will strengthen the security of bauxite supply while ensuring future profitability through the sale of an additional 400,000 tons of alumina per year on competitive terms. He did not elaborate further despite persistent questions.

In addition to its expansion in energy and metals, Metlen is making a significant investment in gallium, a move Mytilineos described as the company’s ultimate step toward internationalization. This signals a strategic shift for Metlen as it broadens its focus beyond traditional industrial and energy sectors, reinforcing its presence in the global advanced materials market. With ambitious EBITDA growth projections, a strengthened battery storage business, and a strategic alumina supply deal, Metlen is positioning itself as a key player in both industrial metals and renewable energy infrastructure on the international stage.

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