FTSE 100-listed Metlen Energy & Metals PLC (LSE:MTLN) reported higher revenue but lower profits for 2025, reflecting losses in part of its energy business.
The Greek energy and metals group said revenue rose 25% to €7.1 billion in the past calendar year, while EBITDA fell 30% to €753 million and net profit dropped 48% to €314 million.
The decline was mainly due to losses in its M Power Projects sub-sector, which designs and builds large-scale energy infrastructure projects for clients, and is now part of its renewables and energy transition division.
Metlen said the decrease in EBITDA reflects project execution-related losses, mainly associated with the Protos waste-to-power project in the UK, which resulted in cost overruns and schedule delays.
A dividend of €1 per share was proposed to accompany the group's first set of results since listing on the London Stock Exchange last August, with subsequent inclusion in London's blue-chip index and MSCI UK.
Executive chairman Evangelos Mytilineos, who oversaw his family firm's move from a primary Greek listing to the Square Mile, called it a "historic year" for Metlen, though its core markets were "marked by geopolitical uncertainty, trade tensions and volatility".
He added that despite these external pressures on the business, the group delivered a strong performance across its core divisions.
Alongside established activities, he said key strategic investments in new growth areas are "progressing as planned", designed to strengthen growth through new "strategic pillars" of critical metals, circular metallurgy, and scaling up of the defence business.
He concluded: "Metlen operates in a dynamic global environment where geopolitical developments and market volatility could influence a company's performance. Periods of heightened uncertainty, including potential conflicts in key energy-producing regions such as the Persian Gulf, typically increase volatility in energy and commodity markets, creating both risks and upside potential for well-managed companies."