Mytilineos 9M profit rises, beats estimates

* Mytilineos 9M profit 18.3 mln euros * Company revises upwards 2009 EBITDA guidance ATHENS, Nov 11 (Reuters) - Greek metals and energy group Mytilineos said on Wednesday nine month net profit unexpectedly rose, on falling ore prices and a strong performance by power plant building unit Metka. Net profit rose to 18.3 million euros ($27.42 million) from 15.3 million in the same period last year. This exceeded analysts' average forecast in a recent Reuters poll, which had showed profit falling to 13.7 million euros. The previous year's nine-month earnings included a one-off gain of 13.3 million euros. Mytilineos, a major producer and trader of aluminium and alumina in southeast Europe, is expanding into the energy sector to benefit from increasing demand for electricity in the region. The group's risk hedging policy, cost cuts, falling prices for the raw metals and ores it uses, as well as majority-owned unit Metka's strong showing, boosted the overall operating profit margin to 18.4 percent from 10.8 percent last year, the company said. The company revised upwards its EBITDA target range for the full year of 2009 to between 115 and 125 million euros. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12 percent to 89.4 million euros from 79.6 million in the same period a year earlier. ($1=.6674 euros) (Reporting by Harry Papachristou; Editing by Mike Nesbit)