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Merus Power (MERUS) investor relations material
Merus Power H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales grew 52.5% year-over-year to €54.6 million, driven by energy storage deliveries and stable power quality solution sales.
EBITDA improved to €1.8 million from -€0.8 million, reflecting enhanced operational efficiency and productization.
EBIT turned positive at €0.3 million, and the result for the period improved to -€1.1 million.
Major achievements included the first grid-forming energy storage facilities in the Nordics, large-scale deals in Finland and Poland, and a record active filter order in Egypt.
Order intake for the year was €48.0 million, with a year-end order book of €24.5 million.
Financial highlights
Net sales: €54.6 million (up from €35.8 million in 2024), +52.5% year-over-year.
EBITDA: €1.8 million (up from -€0.8 million in 2024), margin 3.3%.
EBIT: €0.3 million (up from -€2.1 million in 2024), margin 0.6%.
Result for the period: -€1.1 million (improved from -€2.7 million in 2024).
Earnings per share: -€0.14 (up from -€0.35 in 2024).
Outlook and guidance
Net sales are expected to grow in 2026, with EBITDA guidance of €2–4 million.
The company remains confident in long-term growth, supported by global energy transition and electrification trends.
Short-term market outlook remains positive, especially in energy storage across Europe.
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