Strong financial performance has helped Swiss-based MET Group to reinforce its role as an energy transition company. The 2024 results demonstrate MET’s commitment to balancing the need for sustainability with energy security and affordability.
Throughout 2024, MET Group maintained its position as one of the fastest-growing independent energy suppliers in Europe. MET achieved its third most profitable year 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.
With its business structure ranging from gas, LNG and power trading, gas and electricity sales across 17 countries, investments into gas storage, gas-fired power plants, CHP (combined heat and power) and battery energy storage systems to renewables, MET Group is perfectly positioned as an energy transition company.
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.”
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 17 countries through subsidiaries, 31 national gas markets, and 44 international trading hubs. The company's 1,100+ employees represent close to 60 nationalities. MET has extensive experience operating green (renewable) and flexible (conventional) energy assets, thus providing the widest possible support to energy transition. In 2024, MET Group’s consolidated sales revenue amounted to EUR 17.9 billion, with a total traded volume of natural gas amounting to 140 BCM and total traded electricity of 76 TWh.