With a jump from EUR 18.1 billion to EUR 41.5 billion, MET Group recorded its highest consolidated revenue increase over the past fiscal year, in a market characterized by price spikes at unprecedented levels.
The Group experienced significant growth in its LNG activities. In 2022, MET imported over 30 TWh of LNG cargoes to Croatia, Greece, Spain, Belgium and the UK, thereby becoming one of the most geographically diversified LNG importers into 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.
Thriving business trusted by the capital markets
MET’s continued growth and financial performance also resulted in the recent successful conclusion of its new EUR 1.23 billion 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 EUR 1 billion, the Facility received strong support from both existing and new banking partners and closed oversubscribed.
Benjamin Lakatos, Chairman & CEO of MET Holding AG commented: “After the Covid crisis, 2022 presented another year of unprecedented market volatility and industry challenges. 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.”
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 13 countries through subsidiaries, 27 national gas markets, and 22 international trading hubs. MET has extensive experience in operating green (renewable) and flexible (conventional) energy assets, thus providing the widest possible support to energy transition. In 2022, MET Group’s consolidated sales revenue amounted to EUR 41.5 billion (2021: EUR 18.1 billion), the total traded volume of natural gas was 109 BCM including futures (2021: 141 BCM), total traded electricity 67 TWh including futures (2021: 65 TWh).