MET Group achieved its third most profitable year in 2024

MET achieved its third most profitable year in 2024 on the back of a consolidated revenue of EUR 17.9 billion. The company’s revenue was down from EUR 24.5 billion in 2023 reflecting the normalisation of energy prices.

The total traded volume of electricity in 2024 reached 76 TWh (up from 68 TWh in 2023), while the traded volume of natural gas increased significantly to 140 BCM (from 88 BCM in 2023). Natural gas and LNG not only play a vital role in securing energy supplies for Europe, but they are also key for energy transition since they represent the fossil fuel with the lowest carbon footprint. As a transition fuel, natural gas and LNG back up weather-dependent renewable energy sources.

In its LNG business, MET Group imported 22 cargoes to Europe in 2024. The company entered into a 10-year LNG purchase agreement with Shell to supply its European customers with US LNG, and reached a partnership agreement with Celsius to build MET’s first LNG vessel, scheduled to be delivered in 2027.

As part of its strategy to support the green transition, last year MET continued its investment into renewables assets, building a technologically diversified portfolio. The company has 414 MW of solar and onshore wind projects in operation, 112 MW under construction, and further projects in the pipeline, across 8 European countries.

Battery energy storage systems (BESS) play a crucial role in MET’s portfolio too – at the end of last year, MET Group purchased a 100% shareholding in Comax France, an operator and developer of BESS projects.

MET Group Chairman and CEO Benjamin Lakatos said: “After the energy crisis in 2022, Europe last year finally decided to drive the energy transition in the right direction with a pragmatic approach. At MET, we will continue to play our role in resolving the energy trilemma of energy security, decarbonization and affordability.”