Potential Setbacks for METLEN LSE Listing and Investor SentimentI am revising my estimate for the performance of METLEN's stock, as information suggests a potential delay in its listing on the LSE . Although the company's nine-month results are particularly positive, this uncertainty may impact future returns.
METLEN's turnover increased by 3%, reaching €4,203 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 6% to €763 million. Net profits rose by 4% to €482 million, with earnings per share amounting to €3.49. Despite investments, the net debt ratio remained stable at 2.05x EBITDA.
Regarding the rumors of Mr. Mytilineos's potential involvement with Hellenic Petroleum (ELPE), I refer you to the Prime Minister's statement: "It is not patriotic to import natural gas and oil from abroad when we can exploit domestic energy sources."
Finally, it is now certain that the government will impose a windfall tax on the excess profits of energy companies, a development expected to negatively affect METLEN's stock performance. While this decision aims to boost public revenues, it creates uncertainty for foreign institutional investors, who may reconsider their positions in the Greek energy market due to exposure to unpredictable tax burdens. This could make attracting substantial investment capital in the energy sector more challenging.
TARGET PRICE: 28.26
