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Research

Kempower: Profitability scales rapidly

By Pauli LohiAnalyst
Kempower
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Stronger than expected growth and especially the rapid scaling of profitability in Q2 provide clear additional support for Kempower’s earnings growth outlook. We still see potential for a surprise in terms of growth with new production facilities and the expansion in North America, although the uncertainty surrounding forecasts is significant. The actual result date, July 25th, can still bring additional information that may affect our estimates. We reiterate our Accumulate recommendation and raise our target price to EUR 43 (previous 32) driven by higher estimates.

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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 Figures19.07.2023

202223e24e
Revenue103.6295.3457.7
growth-%278.1 %185.0 %55.0 %
EBIT (adj.)6.739.565.0
EBIT-% (adj.)6.5 %13.4 %14.2 %
EPS (adj.)0.070.570.90
Dividend0.000.000.00
Dividend %
P/E (adj.)283.321.113.3
EV/EBITDA117.913.77.5

Forum discussions

I find this to be quite an interesting question. I don’t mean, for instance, how deep the moats really are for an operator that assembles chargers...
12 minutes ago
by Balle Ramsted - pienehkö kasvusijoittaja nupullaan
0
Didn’t that party sell a massive chunk of Kempower shares at around 30 euros, if I recall correctly? edit: I checked, and they sold 102 million...
1 hour ago
by MTES
2
Someone still believes in Kempower’s future.. Owners don’t waste two mill if they thought it was going down the drain. I guess the bottom was...
3 hours ago
8
Tärkeimmät talousuutiset | Kauppalehti – 17 Feb 26 Kempin sukuyhtiö tankkasi Kempowerin osakkeita lähes 2 miljoonalla eurolla Ostotapahtumien...
3 hours ago
by Index
8
Insiders are buying more heavily. Perhaps this is finally a positive signal for us patient Kempower retail investors: Inderes Kempower Oyj –...
4 hours ago
by HH82
14
https://www.kauppalehti.fi/lehdistotiedotteet/a/cbb66057-d512-5aaa-9b10-9b2e2d16ab36 Kempower and Aimo to deliver DC fast chargers to SkiStar...
11 hours ago
by Six
8
I don’t think one can conclude anything other than that Tesla manages with lower amperage. That’s why the smaller transformer. Whatever the ...
2/15/2026, 8:54 AM
6
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