METLEN‘s 2026 revenue is forecast to reach record levels and operating profit (EBITDA) of 1.15 billion, the company’s chairman Evangelos Mytilineos, speaking today at the company’s general meeting of shareholders.
He pointed out that the decisions to list METKA on the Stock Exchange will be made depending on the development of the markets, while referring to developments in 2025, a year in which there was a decline in profitability, he referred to a learning period in the project execution sector and added that the reaction was decisive, although some issues could have been addressed earlier.
Mytilineos said that the share of the company is strongly undervalued and asked about funds that have bet on a further decline, he noted that he who laughs last laughs best.
He referred in detail to the prospects for developing activities such as gallium production, for which he said demand is 50 times higher than production capacity. On the defence business he noted that there are orders from the US, Germany and other countries but not from Greece.
Asked about the war in the Gulf, he said that no one can predict whether there will be peace tonight or the crisis will last for 6 months. For the company it is positive that aluminium prices are rising while the rising price of natural gas is driving up the cost of producing metals and electricity. “If we don’t have gas from either Qatar or Russia at the end of 2027, Europe will be in a very difficult position,” he said, expressing hope that reports of negotiations with Russia would be verified so that “we can return to a regime of relative abundance and lower prices”.
In addition, when asked about a possible share capital increase, he said that capital increases and elections are not announced.
The general meeting approved the board’s proposals with a 94-98 percent majority, including authorization for the board to issue new shares, distribution of a dividend of EUR1 per share to be paid on July 16 and the purchase of treasury shares.
