The energy company MET Group, headquartered in Switzerland, recorded its second-best financial results in its corporate history in 2023, thanks to a consolidated revenue of 24.5 billion euros. As stated, this is evidence of the group’s ability to achieve success even in a less volatile market environment, and they remain focused on a growth strategy.
This company, along with MVM CEEnergy Croatia, HEP, INA, PPD, and Slovenian Geoplin, is one of the lessees of the LNG terminal in Krk, and they report that the company’s revenues decreased compared to 41.5 billion euros in 2022. In their report, they also highlighted the launch of a new loan instrument worth 1.33 billion euros along with numerous bilateral agreements. MET considers the commitment of its financial partners a clear sign of trust in the company’s integrated sales and trading business model, along with a growing asset position and risk management capability.
MET has also established three new solar parks in Spain and Hungary and now manages a total production capacity of 391 MW. Additionally, it has deepened its renewable energy development pipeline with new entries into the markets in Switzerland, Germany, and Poland.
Within the sales and trading segment, the MET Group continued to expand its activities, primarily by entering the French market. The growth of the LNG business has continued, and MET now has the most diversified LNG import structure from a geographical perspective in Europe. The group possesses long-term capacities in Germany, Spain, and Croatia, with imports from eight different countries including the Mediterranean (Greece, Italy, Croatia, Spain), Northwestern Europe (UK, Belgium, Germany), and the Nordic region (Finland). MET has delivered approximately 2 mtpa (30-40 cargoes per year) over the last two years.
Furthermore, in 2023, they opened an 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 implementing a strategy for local self-governing units. Additionally, the company employs nearly a thousand employees in 15 countries representing over 50 nationalities.
– In 2023, the Group continued to demonstrate the inherent strength and profitability of its integrated business model in less volatile markets. Looking ahead, we will continue to rely on our highly motivated, exceptional, truly international team to advance through the energy transition – commented the President of the Management Board and CEO of MET Group Benjamin Lakatos.
