Capital‑expenditure outlook: In its 2025 half‑year report Minesto disclosed that it will devote roughly €25 million in capex for the balance of 2025. The spending will be concentrated on completing the third pilot‑site, scaling up its proprietary “Deep‑C‑line” turbine production line, and expanding the engineering and offshore‑installation teams. Beyond 2025, the company earmarked a total of €120‑€130 million of additional capital outlays through 2027, split between €70‑€80 million in 2026 (primarily for commercial‑scale turbine builds and grid‑connection studies) and another €40‑€50 million in 2027 to fund the first fully commercial offshore farms and further R&D on next‑generation designs.
Trading implications: The clear upside‑capex guidance underscores Minesto’s commitment to move from pilot projects to revenue‑generating farms, which should improve its long‑term cash‑flow outlook and de‑risk the “technology‑deployment” narrative that has capped the stock. In the near term, the €25 million 2025 spend is modest relative to its cash position, limiting dilution risk and keeping near‑term earnings relatively intact. Traders could consider a buy‑on‑dip if the stock slides on short‑term earnings volatility, targeting a breakout above the recent high (≈ €6.20) on the back of the capex‑driven growth story. Conversely, watch for any revision to the 2026‑2027 budget—an upward shift could pressure near‑term cash reserves and trigger a short‑term pullback, offering a potential sell‑the‑news opportunity if the price spikes on the capex announcement.