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MET Group successfully weathered the storm in 2022

Swiss-based European energy company MET Group successfully managed the unprecedented market volatility seen over 2022 and closed its financial year with strong results. According to the company’s latest press release, MET’s integrated business model alongside its risk management capabilities enabled financial performance without any unplanned or additional financial support. At the same time, MET accelerated and restated its growth ambitions in its Green Assets Division to 2 gigawatts (GW) of installed capacity by 2026, demonstrating its firm commitment to supporting the energy transition in Europe.

With a jump from 18.1 billion euros to 41.5 billion euros, MET Group recorded its highest consolidated revenue increase over the past fiscal year, in a market characterized by price spikes at unprecedented levels.

“After the Covid crisis, 2022 presented another year of unprecedented market volatility and industry challenges,” said Benjamin Lakatos, Chairman and CEO of MET Holding. “I am pleased that MET Group navigated this extraordinary situation. The Group leveraged the strength of its integrated business model, and this allowed us to deliver exceptional financial results. The past year has clearly shown that MET Group is able to bring new energy to Europe’s energy transition.”

The Group experienced significant growth in its LNG activities. In 2022, MET imported over 30 terawatt-hours (TWh) of LNG cargoes to Croatia, Greece, Spain, Belgium and the UK, thereby becoming one of the most geographically diversified LNG importers in Europe.
Throughout this period of supply disruption and geopolitical uncertainty, MET continued to play its role as a trusted and reliable supplier and trading partner for utilities, industrial companies and end customers across its core markets.

With its own gas-fired power plants and owned and operated storages in Germany, the Group continued to support grid stability and overall supply-demand balancing with high operational reliability.

In 2022, MET also doubled its ambition in Green Energy to 2 GW of installed capacity in solar and onshore wind generation by 2026. The Group is planning to deliver the additional capacity through both its own Green Assets Division as well as through the newly established JV with Keppel. MET Group entered the renewables markets in four new countries in 2022 with acquisitions in Spain, Italy, Poland and Romania.

MET’s continued growth and financial performance also resulted in the recent successful conclusion of its new 1.23 billion euros Multicurrency Secured Revolving Borrowing Base Facility. This is a significant increase over the Group’s previous facility and confirms the confidence of the financial markets in MET Group’s business model. Initially launched at 1 billion euros, the Facility received strong support from both existing and new banking partners and closed oversubscribed.

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