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Menlo Electric, a Polish wholesaler of solar panels, is Europe’s fastest-growing company in this year’s FT1000 ranking, because of strong demand for Chinese-built products in its home continent and also markets including the Middle East and Africa.
Between 2020 and 2023, Menlo achieved annual compound growth of 830.8 per cent, with revenues of almost €151mn in that final year.
Menlo expanded strongly during the Covid-19 pandemic and also after Russia’s 2022 invasion of Ukraine, which sent Europe’s energy prices soaring and encouraged more households and companies to install their own solar power.
But, reflecting a broader trend, Menlo’s most recent earnings have suffered from a market glut, so that founder and chief executive Bartosz Majewski is forecasting for 2025 a second consecutive year of flat…
