Kempower: Time for a charging break in midst of all the action
By Pauli Lohi
2022 ended strongly in terms of new orders, production volumes and profitability. Guidance for 2023 seems slightly cautious and leaves room for even a slower start of sales in the US. We raised our earnings estimates for the next few years, but valuation has still risen to a level where the risk/return ratio no longer appears attractive.
Kempower
27.56
27
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Accumulate
Kempower is active in the industrial sector. The company is a developer of charging solutions and services with a focus on the automotive sector. The range mainly includes charging posts, stations, sockets, and associated electronic equipment. In addition to the main business, various aftermarket services and technical support are offered. The largest operations are in the Nordic countries and Europe.
Read more on company pageKey Estimate Figures15.02.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 103.6 | 209.3 | 305.5 |
growth-% | 278.10 % | 102.00 % | 46.00 % |
EBIT (adj.) | 6.7 | 16.5 | 38.5 |
EBIT-% (adj.) | 6.47 % | 7.89 % | 12.59 % |
EPS (adj.) | 0.07 | 0.22 | 0.53 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 283.31 | 98.52 | 41.84 |
EV/EBITDA | 117.92 | 53.66 | 24.52 |
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