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Research

Kempower: Staying on board despite forecast risks

By Pauli LohiAnalyst
Kempower
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The soft order intake in Q3 increased the uncertainty surrounding growth forecasts. The increase in orders can be partly attributed to seasonality and temporary factors, but we still had to cut our growth estimates. In turn, profitability is scaling up more strongly than expected. We expect growth to return to a strong path in the coming quarters and expect valuation multiples to decline rapidly in line with earnings growth in the coming years.

Kempower operates in the industrial sector. The company is a developer of charging solutions and services aimed at the automotive sector. The range mainly includes charging posts, stations, sockets, and associated electronic equipment. In addition to the main business, various after-sales services and technical support are offered. The largest operations are found in the Nordic region and parts of Europe.

Read more on company page

Key Estimate Figures19.10.2023

202223e24e
Revenue103.6298.4411.7
growth-%278.1 %188.0 %38.0 %
EBIT (adj.)6.754.567.3
EBIT-% (adj.)6.5 %18.3 %16.3 %
EPS (adj.)0.070.800.94
Dividend0.000.000.00
Dividend %
P/E (adj.)283.316.914.4
EV/EBITDA117.911.18.0

Forum discussions

Published 10 minutes ago: Kempower Investors Kempower and DCB Energy partner to develop the Benelux region’s largest... DCB Energy has enlisted...
11 hours ago
by Koala
12
LinkedIn #emobility #infrastructure #bk #chargingnetwork #construction #zsedrive #zse... Dámy a páni, výstavba nabíjacej infraštruktúry na dia...
yesterday
14
Scania Suisse Käppeli Logistik et Scania Suisse SA développent le parc de recharge innovant... Käppeli Logistik et Scania Suisse SA continuent...
3/9/2026, 2:44 PM
9
LinkedIn #laadinfrastructuur #emobility #techniek #energietransitie | Roy Hendriksen Gister een mooi project in uitvoering bezocht in Oosterhout...
3/7/2026, 3:13 PM
10
In Germany, Kempower doesn’t seem to be good enough for passenger car operators, but buses seem to like it: 4 Kempower Power Units dynamically...
3/6/2026, 2:43 PM
13
It really looks like MONTA has changed its evaluation criteria. Previously, the error rate was tracked using two different values. It is an ...
3/5/2026, 10:44 AM
8
I don’t remember exactly what kind of figures Kempower had previously, but I don’t see any significant collapse in those. Alpitronic, on the...
3/5/2026, 9:14 AM
by Pauli Lohi
16
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