The analysts appear to be optimistic after the announcement of its financial results Metlen for the first half of 2025. Despite the € 132m loss from the project project in Britain, most stock markets point out that it is a single incident, which does not change the company’s long -term image.
The administration reiterated Guidance for EBITDA over € 1 billion this year and the target of € 2 billion in medium -term horizon, resulting in many houses consider Metlen to remain on a steady development course. The perspective of the second semester is particularly positive, with the driving forces, powerful trading and profitability in retail energy.
The majority of analysts (Berenberg, NBG, Piraeus, Optima, Pantelakis, Eurobank, Euroxx) estimates that without the charge from Protos, the results would exceed expectations, with EBITDA 577 million euros (+22% on a year). They point out that the damage is a “first serious loss” in hundreds of EPC projects and does not change the overall credibility of the group.
Positive estimates for the second semester
Berenberg and NBG Securities focus on the strong contribution of energy activities: an increase of 54% EBITDA, 17% in production, while supplying and marketing almost triple their profitability. Piraeus Securities considers the EBITDA target of € 1 billion for 2025, even by recording the damage.
The Axia Ventures expects EBITDA EUR 600 million in the second half, based on the sales of RES projects, a strong production and recovery of M power projects, while also highlighting the new prospects in the defense sector.
Beta Securities, although recognizing the divergence from estimates, points out that Metlen’s “solid image” remains intact, with the share negotiating at attractive levels (EV/EBITDA 9.5 and P/E 11.0). Optima Bank maintains a buy -target buy of 62.40 euros, noting that integration into the FTSE 100 index will increase international visibility of the stock.
Correspondingly, Alpha Finance and Eurobank Equities highlight future concession inflows and positively see Metka’s possible introduction to ATHEX. in 2026.
Medium -term growth strategy
Euroxx Securities is focusing on RES progress with a 59% turnover on turnover, while Edison stresses that the group’s revenue has reached a historic high of € 3.6 billion in the six months. Most analysts agree that differentiation in energy, metals, defense and circular economy supports the target for EBITDA 2 billion euros by 2028.
Analysts see the damage to the protos as a temporary shade in an otherwise stable development course. With strong performance in basic activities and medium -term target of EUR 2 billion EBITDA, Metlen remains at the center of investment interest.