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Small order for Merus Power in power quality solutions

MERUSAnalyst Comment27.07.2026, 08.06
Pauli LohiAnalyst
Discuss

Summary

  • Merus Power announced a 1 MEUR order to deliver a STATCOM compensator to an Argentinian steel industry rolling mill, marking its first delivery to Argentina.
  • This order is part of Merus Power's increased sales efforts in South America, but it is a small addition to the order book and does not require revisions to current estimates.
  • Demand for power quality solutions has been lower recently, potentially impacting the company's business margin profile, while energy storage orders have reached record levels, supporting production utilization.
  • The revenue from this delivery is expected to be concentrated in 2027.

This content is generated by AI. You can give feedback on it in the Inderes forum.

Translation: Original published in Finnish on 7/27/2026 at 8:41 am EEST.

Merus power announced on Friday that it will deliver a STATCOM compensator to an Argentinian rolling mill in the steel industry. This is the company's first delivery to Argentina and can be seen as a continuation of its increased sales efforts in South America in recent years. The 1 MEUR order is a small addition to the order book. Demand for power quality solutions has recently been lower than usual, while energy storage orders have accumulated to a record amount.

The order does not necessitate revisions to our estimates due to its relatively small size. We estimate that the majority of the revenue generated by the delivery will be concentrated in 2027. Order intake for power quality solutions has been subdued over the past year, which may have a slight negative impact on the company's business margin profile. Conversely, a large number of energy storage orders have been generated across the board, supporting the utilization rates of the company's production facility in Ylöjärvi.

Merus Power operates in the industrial sector. The company specializes in electrical engineering, designing technology for energy efficiency, operational and environmental performance. The company delivers battery energy storage systems, power quality solutions and services. The customer base consists of players in industry, power generation and renewable energy. The company operates on a global level with headquarters in Ylöjärvi.

Read more on company page

Key Estimate Figures23.02

202526e27e
Revenue54.657.969.5
growth-%52.5 %6.0 %20.0 %
EBIT (adj.)0.31.42.8
EBIT-% (adj.)0.6 %2.3 %4.0 %
EPS (adj.)-0.140.020.19
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.330.532.4
EV/EBITDA21.419.412.6

Forum discussions

Lääke- ja sirutehtaat vaativat isot panostukset tuotantokoneistoon, usein jopa miljardeja. Ne halutaan pitää käynnissä vaikka 24/7, mutta kojeistojen...
9 hours ago
1
Moving to two shifts already increases profitability significantly, and that should be a near-term goal. A third shift would improve it significantly...
yesterday
by Janne
2
Production like that is hardly ever run in three shifts. It’s generally low-capital, manual “hand” work where you can’t get anyone half-competent...
yesterday
1
Kiitos Tomi oikein erinomaisesta kirjoituksesta sekä tialanteen käsittelystä monipuolisesti. Vastaavat pitkälti omia näkemyksiäni myös. Tuot...
10/3/2026, 5:13 AM
by Janne
3
Juho Toratti, too, has written about Merus. Key risks for Merus Power include increasing competition and falling battery prices. Intensifying...
10/2/2026, 9:58 PM
by Sijoittaja-alokas
4
I attended Merus Power’s Capital Markets Day yesterday and wrote an article about the company for Salkunrakentaja. Merus Power’s CMD: pedal ...
10/1/2026, 8:29 AM
by Tomi Lindell
10
Merus kertoi uudesta strategiastaan sekä tavoitteistaan pääomamarkkinapäivillään ja Pauli teki sitten yhtiöstä uuden yhtiöraportin. Merus Power...
10/1/2026, 5:43 AM
by Sijoittaja-alokas
3