Metlen Energy & Metals announces €25M aluminium recycling investment

Metlen Energy & Metals is undertaking a strategic €25 million investment in its EP. AL. ME. unit to upgrade its aluminium recycling capabilities. The project involves installing highly automated equipment for the sorting, processing, and melting of complex aluminium scrap, including post-consumer materials. This initiative aims to strengthen the company’s integrated aluminium value chain by creating synergies with the ‘Aluminium of Greece’ plant, with total production expected to exceed 250,000 tonnes.

In parallel, JPMorgan has initiated coverage of Metlen with an ‘Overweight’ rating and a price target of €64 per share, representing a potential upside of approximately 30%. The bank’s analysis highlights the company’s potential to double its EBITDA from approximately €1 billion to €2 billion in the medium term. This growth is expected to be driven by both brownfield expansions and greenfield activities, including strategic sectors such as gallium production, circular metals, and defense equipment. JPMorgan noted that Metlen’s exposure to alumina and aluminium is largely hedged through 2028, protecting earnings from market volatility.