As much as 90 percent of MET Group’s shares are held by its employees, whilst the remaining 10 percent is held by Keppel Infrastructure. This ownership structure makes it one of the few energy companies that is completely independent.
Original article in Croatian: Lider
Despite operating in challenging times, MET Croatia Energy Trade reports excellent business results. Mario Matković, the CEO of MET Croatia, states that despite the recent challenging gas seasons, they have remained a professional, fair and reliable partner to customers in Croatia. In 2023, considering the overall drop in gas prices, revenues were proportionally lower but still reached 1.24 billion euros, placing MET Croatia Energy Trade among the top 10 companies by revenue in Croatia for the second consecutive year. Matković hopes for similar results in the current year.
How did you cope with adverse market trends?
It is important to note that the gas market in Croatia changed significantly, first due to the COVID-19 pandemic and then due to the war in Ukraine. In such conditions, business was extremely challenging because when the price of a product increases more than tenfold, profits do not necessarily follow. To overcome such crisis periods and successfully fulfil all obligations, we focused on risk management and securing financing. In the long term, we maintained customer trust and weathered periods of extremes together with them. I am proud of the more experienced colleagues who managed this challenging period and the younger colleagues who learned to work in a crisis environment. A key factor was the support and comprehensive view of the energy market we have as part of the Swiss MET Group.
Who are the most frequent users of your services? What do you offer them?
Initially, the business focused on trading and wholesale, while supply to end customers was achieved following a few years of growth. Today, in our tenth year of existence, MET Croatia Energy Trade primarily supplies end customers in the industrial segment of the natural gas market. In Croatia, we offer a full range of index-priced products, with the possibility of fixing partial or total quantities in one or more tranches. This year, we have also started supplying electricity to Croatian companies and are preparing various packages for users. The long-term goal, in line with regulations, is to offer a complete energy mix with associated energy savings.
What do you emphasize in your business operations?
MET Croatia Energy Trade is guided by the principles of excellence of MET Group. Headquartered in Switzerland, the company provides a global perspective on the energy market, knowledge, standardized training, and daily support to its subsidiaries, including us. Our company is independently successful and stable, and belonging to a larger group further solidifies our positive image with clients. In the long term, we work on maintaining a continuous partnership with customers. For example, despite current stability, we advise all customers who have the option to consider at least partial price fixing. Due to market dynamics, there is always the possibility of price disruptions in the form of significant increases, and this approach minimizes that risk as much as possible. When gas prices were at their highest, above 300 EUR/MWh, this approach allowed us to have clients who paid 20 EUR/MWh. We also emphasize the importance of each employee and their professional development through numerous training sessions and mentorship from more experienced colleagues within the entire MET Group. Many members of our team have been with us since the beginning of their careers, and some for nearly a decade.
Interestingly, the majority of the company’s shareholders are MET Group employees.
MET Croatia Energy Trade d.o.o. is 100% owned by the Swiss MET Group headquartered in Baar. As much as 90 percent of MET Group’s shares are held by employees, whilst the remaining 10 percent is held by Keppel Infrastructure, a subsidiary of the Keppel Corporation listed on the Singapore Exchange. This ownership structure makes MET Group, and thus MET Croatia Energy Trade, one of the few energy companies that is completely independent and majority-owned by employees.