Merus Power
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Merus Power (MERUS) investor relations material

Merus Power CMD 2026 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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CMD 2026 summary30 Sep, 2026

Strategic achievements and current position

  • Achieved strong growth during 2021–2026 with a 53% CAGR and successful shift from power quality to energy storage markets.

  • Established market leadership in Finland and initiated internationalization in energy storage.

  • Maintained financial stability with over 30% equity ratio and reached a profitability turning point in 2024.

  • 2025 revenue reached €55M, with €24M in H1/2026 and an order backlog of €50M.

  • Net sales have increased approximately tenfold since 2020, reflecting strong recent growth.

Strategic direction and priorities

  • Aims to become a leading technology provider for power system stability, flexibility, and energy efficiency during the energy transition.

  • Focuses on profitable growth, internationalisation, technology leadership, and long-term shareholder value.

  • Growth to be driven by expanding energy storage business in Europe, power quality business, and increased services share.

  • Plans to shift towards productised, repeatable solutions and services covering the full delivery life cycle.

  • Targets new customer segments such as data centres, green steel, electric rail transport, and hydrogen industry.

Financial targets and guidance

  • Targets €160M revenue and EBITDA of at least 12% of revenue by 2030.

  • 2025 revenue reached €55M, with guidance for 2026: revenue growth and EBITDA of €2–4M.

  • Equity ratio to exceed 35% by 2030, with profits reinvested for growth and dividends possible toward the end of the period.

  • Profitability improvements expected from business scaling, modular products, and a growing installed base.

  • Service business to be strengthened on the expanding installed base.

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