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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.339.133.3
EV/EBITDA21.419.912.9

Forum discussions

In these consultation statements, people always paint the worst-case scenarios—I can say this from personal experience. You really need a rather...
10/11/2026, 9:21 AM
by ollikohan
11
You are certainly partly right, but in my opinion, “as far as I understand, that matter is of little significance to the company” is too optimistic...
10/11/2026, 8:44 AM
by tonotsa
1
As I understand it, the aim here is to steer electricity storage systems to areas where the grid has capacity. From the power system’s perspective...
10/11/2026, 7:39 AM
by ollikohan
6
Yle Uutiset – 10 Oct 26 Käänne: Datakeskukset siirretään sähköjonon hännille, koska vyöry yllätti... Uusi laki voi viivästyttää uusien datakeskuksien...
10/10/2026, 7:02 PM
by tonotsa
7
I don’t quite get your point anymore, and this is getting way off-topic now. Of course executives are flexible when needed, and meetings/decisions...
10/8/2026, 7:06 AM
by Janne
0
Without claiming to know any more about Merus, I would say that a second/extra shift improves lead times—and therefore competitiveness—more ...
10/8/2026, 5:06 AM
0
There are kind of two different issues here. Of course people get tired at night, and some struggle to wake up for work in the morning. Even...
10/8/2026, 4:21 AM
by Janne
0