Small but interesting solar thermal project in France for Meriaura Group
Translation: Original comment published in Finnish on 4/16/2024 at 7:37 am EEST.
The project is small in terms of revenue. However, the project is partnered with a major French construction company, which could allow for more projects in the long term. The order does not imply the need to change the forecast.
Small project with interesting partner
Meriaura Group announced on Monday that the group company Meriaura Energy (formerly Savosolar) has signed a contract with an organic vegetables producer based in France for the turnkey delivery of a solar thermal plant. The project is valued at approximately 1.7 MEUR and includes the construction of a solar thermal field of 5,800 m² supplying heat to the customer's greenhouse. The project has been developed in collaboration with Eiffage Energie Systèmes, part of a major construction group. This cooperation has the potential to generate further projects and sales continuity in the long term.
Project revenue spread over 2024-25
Delivery of the project is scheduled to start in 2024, with completion expected in early 2025. In our current forecasts for the Renewable Energy business area, we have already assumed a small amount of new orders for 2024, so there is no need to increase the revenue forecasts for the announced project. Our current forecasts assume around 1-2 MEUR of new orders for 2024 in addition to the now announced project.
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Meriaura Group
Meriaura Group has two business areas: Maritime Logistics and Renewable Energy. Meriaura transports dry cargo and executes demanding project deliveries in Northern Europe. The company offers CO2 reducing marine transport services based on the use of recycled, in-house produced bio-oil. Meriaura Energy designs and delivers clean energy production solutions for district heating and industrial use worldwide, with Europe as the main market area.
Read more on company pageKey Estimate Figures01.03.
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 66.2 | 78.5 | 85.2 |
growth-% | 666.45 % | 18.56 % | 8.61 % |
EBIT (adj.) | 1.0 | 3.3 | 4.2 |
EBIT-% (adj.) | 1.58 % | 4.20 % | 4.98 % |
EPS (adj.) | -0.00 | 0.00 | 0.00 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | 22.63 | 13.50 |
EV/EBITDA | 8.98 | 6.19 | 5.43 |