Minesto AB reports reduced operating loss and progress in tidal energy deployment
Minesto AB, a Swedish company listed on the Swedish Stock Exchange and operating in the electrical equipment sector, released its half‑year financial results for 2026 on 20 August 2026. The company reported an operating loss of 15.4 million SEK for the first six months, a significant improvement from the 20.5 million SEK loss recorded in the same period of 2025. Net profit for the period was 15.0 million SEK negative, with earnings per share before dilution at ‑0.06 SEK, down from ‑0.11 SEK a year earlier.
Financial highlights
| Item | 2026 (H1) | 2025 (H1) |
|---|---|---|
| Revenue | 0 SEK | – |
| Operating income | ‑15.4 million SEK | ‑20.5 million SEK |
| Net income | ‑15.0 million SEK | ‑21.8 million SEK |
| Cash at period end | 38.4 million SEK | 30.2 million SEK |
The operating loss was largely attributed to business development and administrative costs associated with technology development. Management stated that the loss reduction reflected concrete progress across the business, including the verification of electricity production performance over extended production cycles, enhancement of customer offerings, and a multiplication of customer engagements.
Strategic developments
In April 2026, Minesto’s Annual General Meeting elected Philippe Kavafyan, a seasoned executive with over 30 years of experience in the international energy sector, as a new board member. Kavafyan’s background includes leadership roles in the wind industry and offshore projects, and his appointment is expected to strengthen Minesto’s strategic positioning and global network.
During the same period, the company announced an upgrade to its Dragon 4 power plant, incorporating a new power‑take‑off (PTO) system. The upgrade is intended to improve energy production across the tidal flow cycle, supporting Minesto’s claim that tidal energy is transitioning from promise to reality.
Market performance
As of 18 August 2026, Minesto’s share price stood at 1.75 SEK, within a 52‑week range of 0.502 SEK to 3.715 SEK. The company’s market capitalization was 451.55 million SEK. Despite a negative price‑earnings ratio of ‑11.29, the stock experienced a lift following the announcement of reduced losses and strategic progress.
Outlook
CEO Dr. Martin Edlund emphasized that the company has verified production performance over long cycles and has intensified its customer engagement. He reiterated confidence in tidal energy’s commercial viability and highlighted ongoing efforts to enhance production capacity and customer offerings.
Minesto continues to operate across Europe, focusing on generating electricity from low‑velocity tidal currents and developing power plants for tidal and ocean current energy. The company maintains an online presence through its website at www.minesto.com .
