MetalNRG (LON:MTLN) Announces Earnings Results

MetalNRG (LON:MTLN) issued its earnings results on Thursday. The company reported GBX 2.18 EPS for the quarter, Digital Look Earnings reports.

Here are the key takeaways from MetalNRG’s conference call:

• Strong first-half financial performance: Revenue increased 11% to nearly €4 billion, EBITDA rose 23% to €550 million, and attributable net profit grew 23% to €313 million. Operating cash flow exceeded €800 million, helping reduce net debt by approximately €500 million and lower net leverage to 1.7x from 3.1x at year-end 2025.
• Broad-based business growth: Energy EBITDA rose 15% to €331 million, metals EBITDA increased 15% to nearly €150 million, and infrastructure and concessions EBITDA nearly tripled to €82 million, supported by stronger execution and a backlog exceeding €2 billion.
• Legacy project charges remain a risk: Metlen recognized additional completion costs on troubled M RESET/M-Project contracts as they approach delivery. Management said the worst is likely behind the company and reaffirmed its commitment to deliver 11 of 13 projects during 2026, but further execution risk remains.
• Critical-metals and defense expansion advanced: Metlen secured financing and its first commercial gallium offtake agreement, while its Circular Metals platform and defense operations progressed with additional partnerships and contracts. Management indicated potential gallium production expansion toward 60 tonnes and significant defense EBITDA growth from 2027 onward.
• Guidance and capital allocation remain cautious: Despite a strong first half and expectations for seasonal improvement, management declined to raise 2026 guidance. Full-year capital expenditure is expected to remain below the initially planned €1 billion, while the company continues its share buyback, dividend plans, and preparation for a possible METKA IPO in the second half of 2026.

MetalNRG Price Performance

Shares of LON MTLN traded up GBX 1.41 during midday trading on Thursday, reaching GBX 49.83. The company’s stock had a trading volume of 378,656 shares, compared to its average volume of 1,755,334. The stock has a market capitalization of £71.41 million and a P/E ratio of 0.23. The firm has a 50 day moving average price of GBX 42.42 and a 200-day moving average price of GBX 39.04. MetalNRG has a 12-month low of GBX 30.50 and a 12-month high of GBX 57.73.

MetalNRG Company Profile

MetalNRG PLC (LON:MTLN) is a UK-listed exploration and development company concentrating on critical battery and precious metals. The firm’s project portfolio targets nickel, copper, cobalt and platinum group elements (PGEs), which are essential for electric vehicle batteries, renewable energy systems and wider decarbonisation efforts. MetalNRG employs modern exploration techniques, including geophysical surveying, geochemical sampling and drilling campaigns, to identify and advance high-potential mineral prospects.

The company’s primary licences are situated in Scandinavia, where robust mining regulations, established infrastructure and proximity to European battery and automotive supply chains offer strategic advantages.