Briefly in English
Merus Power – A technology company enabling a sustainable and energy-efficient future
We design, manufacture and sell domestic innovative energy storage and power quality solutions and services. Our business is based on scalable and modular power electronics, advanced software technology and electrical engineering expertise. Our customer base is diverse and consists of players in the fields of industry, power generation and renewable energy, among others.
We operate in a global and fast-growing market. Our growth is supported by global megatrends such as climate and emission targets from public and private players, green transition with various related investment programs, and sustainability targets. We are aiming for strong growth, especially in the energy storage market utilizing renewable energy.
Our company is headquartered in Nokia and our staff represents internationally valued expertise.
Products and services
Merus™ ESS – Energy storages and renewable energy integration
Merus™ Energy Storage Solution supports the operation of the electric grid by enabling the storage and integration of renewable energy into it.
Merus™ Power Quality solutions
Merus™ Power Quality solutions improve industrial energy efficiency, increase productivity and support the functionality of the electric grid.
Merus™ Services
Our Merus™ Services ensure the optimal operation and return on our customers’ investments throughout their life cycle.
Our solutions are based on scalable technology, which enables the use of our products and services in a wide range of different application needs.
Our scalable technology has many applications
Renewable energy
- Solar power farms, wind farms, hydropower plants
- Industry’s own power generation
- Smart grids, microgrids
Infrastructure and utilities
- Water and wastewater treatment plants
- Electric car charging points and network
- Substations, transmission and distribution utilities
- Smart grids, microgrids
Commercial buildings
- Data and IT centers
- Shopping centers and malls
- Airports
- Hospitals
Light Industry
- Industries with fast fluctuating loads
- Critical process industry
- Manufacturing industry
Heavy Industry
- Mining, mineral and cement industry
- Iron and steel industry
- Oil and gas industry
Our strengths
- Large, international renewable energy markets with strong growth prospects
- An innovative, smart and scalable technology company for the revolution in renewable energy growth
- Extensive and specialized product portfolio that meets the increased demand of megatrends
- Responsibility at the core of the business
- Professional staff and an attractive workplace for top professionals
Our mission
Our Energy Storage and Power Quality solutions enable renewable energy growth, increase industry productivity and create winning businesses for our global customers.
Our vision for 2025
We are a major smart grid solution manufacturer in the Nordics and recognized as a preferred supplier in the global battery energy storage and power quality markets.
Our strategy
The goal of our growth strategy is to increase the company’s awareness, sales and profitability, and to strengthen the company’s market position in the transition to sustainable energy. We aim for strong growth, especially in the energy storage market and the integration of renewable energy, and we aim to grow faster than the global market itself for power quality solutions.
The cornerstones of Merus Power’s growth strategy are:
- Scalable product portfolio
- Multi-channel sales strategy
- Growth of energy storages in Europe
- Local and global presence of power quality solutions
- Increasing the share of services
Our financial targets
Merus Power’s medium-term financial goals are to achieve:
- Net sales of EUR 80 million in 2026, primarily through organic growth
- an average EBITDA margin of more than 15%
- an equity ratio of more than 35%
Dividend policy
Our goal is to create value for shareholders by using our funds to achieve growth targets, but we see dividend payment as a possible option in the medium term.
Financial guidelines for 2023
Merus Power estimates that the company’s turnover will increase significantly compared to the previous year and that the company’s EBITDA will increase compared to 2022.
Key figures
| (One thousand euros) | January 1st, 2022 – December 31st, 2022 (Audited) | January 1st, 2021 – December 31st, 2021 (Audited) | January 1st, 2020 – December 31st, 2020 (Audited) |
| Sales | 16 204 | 14 770 | 6 500 |
| EBITDA | 591 | 828 | 41 |
| % of sales | 3,6 % | 5.6 % | 0.6 % |
| EBIT | 106 | 333 | -360 |
| % of sales | 0,7 % | 2.3 % | -5.5 % |
| Net income | -108 | -994 | -465 |
| % of turnover | -0,7 % | -6.7 % | -7.2 % |
| Net debt | -1 445 | -7 169 | 2 096 |
| Order book | 9 068 | 8 388 | 10 066 |
| Equity ratio, % | 52,5 % | 64.0 % | 32.3 % |
| Net gearing, % | -11,2 % | -55.1 % | 105.1 % |
| ROE (return on equity), % | -0,8 % | -13.3 % | -23.3 % |
| Number of employees (average) | 68 | 57 | 41 |
Investor relations
Kari Tuomala
Managing director
kari.tuomala@meruspower.com
Contact information
Merus Power Oyj
Staff email addresses: firstname.lastname [at] meruspower.com
(Write ö = o and ä = a)
Tel. 020735 4320
Email: meruspower [at] meruspower.com
Visit us
Pallotie 2
Ylöjärvi 33470
FINLAND
