It is well calculated move through Protergia to absorb the increases of the energy market, both on the production side and on the retail side, where the goal is to further develop and reach a 30% market share, said METLEN President and CEO Evangelos Mytilineos.
Today, the retail share after the completion of the acquisition of Volterra, which is expected to be announced in the coming days, is close to 20%.
Competition in the electricity market is in the red – Protergia makes its mark
In the context of the video conference with analysts of the first half results which were announced today, Mr Mytileneos spoke of an overreaction by the government, referring to the imposition of a tax on electricity production from natural gas, which the government announced to finance the subsidy of household electricity bills.
“These things happen in the markets, especially in times of climate crisis with 15 days of heat over such a large area of Europe. You can already see prices falling. The first good month after 6 difficult months has been taxed. I can’t make a prediction for August, but it is possible that we will see some very hot days next month as well,” he said.
Asked about the company’s performance in 2024, Mr. Mytileneos said he was optimistic about further growth in all sectors and comfortably meeting the targets set for operating profitability of 1-1.2 billion and net profit of 600-700 million. “We will be able to pleasantly surprise shareholders,” he concluded.
Metlen: turnover of 2.5 billion in the first half of the year – All-time record net profitability