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Kempower: Staying on board despite forecast risks

KEMPOWRResearch20.10.2023 klo 11.36
Inderes
Discuss
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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.

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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 Figures19.10.2023

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.)283.37.46.3
EV/EBITDA117.94.12.7

Forum discussions

Miten tulosvaroitus voi tulla vain päivää ennen tulosjulkistusta? Eiköhän ne numerot ole olleet jo aiemmin tiedossa.
3 hours ago
3
You can make pretty good business even with sheet-metal-cased wiring, as Harvia has proven, and Kempower in its day. It’s just that expensive...
11 hours ago
by Kelmeelä
9
Now target prices are between five and seven. Pretty crazy to think that a few years ago it was over fifty, market cap at 4.5 billion, and revenue...
14 hours ago
by Puutaheinää
23
DNB Carnegie cuts target price to €6.10 (prev. €8) and reiterates Hold. Nordea cuts to €6 (prev. €8), recommendation remains Sell. SEB cuts ...
14 hours ago
by Montau
6
If I recall correctly, it has long been the general understanding that with its three production facilities (2 x Lahti + Durham), the company...
yesterday
3
A new report has been published. The “Reduce” recommendation remains. Inderes – 4 Nov 26 Kempower Q3'26: Haastavalla markkinalla ei vielä kä...
yesterday
by xlat
5
Thanks, this clarified things. I’ll need to continue digging into this little by little.
yesterday
by xlat
2