Metlen Energy & Metals (MYTIL) Corporate Presentation summary

Business overview and structure

• Operates as a leading industrial group with global activities in energy and metals, leveraging a synergistic business model across 40 countries and five continents.

• Features a lean structure with two main pillars: Energy and Metals, supported by specialized subsidiaries in renewables, concessions, supply, and trading.

• Largest fully vertically integrated bauxite, alumina, and aluminum producer in Europe, positioned in the first quartile of the global aluminum cash-cost curve.

• Maintains a balanced utility model in Greece, with significant market shares in both power generation and supply.

Financial performance and growth

• Achieved record FY2023 EBITDA of €1,014m and revenue of €5,492m, with 75% of EBITDA from energy and 25% from metals.

• H1 2024 net profit reached €282m, up 5% YoY, with EBITDA at €474m and EPS at €2.04, maintaining robust profitability margins.

• Leverage remains controlled at 1.76x (excluding non-recourse debt), supported by strong cash flow and liquidity exceeding €2.6bn.

• Market capitalization stands at €4.8bn, ranking among the most liquid stocks on the Athens Stock Exchange.

Operational highlights and strategic initiatives

• Power production in H1 2024 was 4.2 TWh, with a 2.0 GW thermal capacity and a 17% share of the Greek power generation market.

• Global RES portfolio reached 10.6 GW, with 0.9 GW in operation and 1.4 GW under construction; asset rotation model enhances capital efficiency.

• Alumina and aluminum production in H1 2024 were 431 Kt and 120 Kt, respectively, with recycled aluminum accounting for over 24% of total output.

• Major international projects include a £1bn UK subsea link and a €2bn solar development deal with PPC Group across four countries.

• Considering a potential international listing, including the London Stock Exchange, to enhance liquidity and global reach.