MET Group reports its second most profitable year in 2023

Swiss-based energy company MET Group recorded the second-best financial results in its corporate history in 2023. The group achieved a consolidated revenue of 24.5 billion Euro. The company’s revenue was down from EUR 41.5 billion in 2022 reflecting the lower price environment.

As part of its growth strategy and commitment to support the Energy Transition, MET brought three new solar parks online in Spain and Hungary, now operating a total generation capacity of 391 MW. It also deepened its renewable development funnel with new market entries into Switzerland, Germany and Poland.

Within its Sales & Trading segment, MET Group continued to expand its activities, most prominently by entering the French market. It also continued to grow its LNG business. MET has long-term capacities in Germany, Spain and Croatia, having imported into 8 different countries – including the Mediterranean (Greece, Italy, Croatia, Spain), Northwest Europe (UK, Belgium, Germany) and the Nordic region (Finland). MET delivered about 2 mtpa (30-40 cargoes per year) over the last two years.

2023 also saw the opening of MET’s office in Singapore. MET Asia, a subsidiary owned 90% by MET Group and 10% by Keppel, will focus on developing the Group’s LNG portfolio while also actively pursuing local asset strategies.

Reflecting this growth, MET Group now employs close to 1.000 employees across 15 countries, representing more than 50 nationalities.

MET Group Chairman and CEO Benjamin Lakatos commented: “In 2022, MET showcased its ability to successfully navigate the most turbulent energy markets seen in decades. In 2023, the Group went on to demonstrate the inherent strength and profitability of its integrated business model in less volatile markets. Looking forward, we will continue to rely on our highly motivated, exceptional, truly international team, to thrive through the energy transition.”