Kempower’s first-quarter result was weak, with a decrease in turnover by 24 percent and an operating loss of over 10 million euros. Despite this, analysts are starting to view the company’s shares as attractive, with an average target price of 29.71 euros and clear buy recommendations. Insider analyst Pauli Lohi notes that despite expansion measures impacting the company’s results, the valuation is starting to look decent even with realized earnings ratios.
Inderes predicts a heavy decrease in the result of expansion activities in 2024, leading to an increase in the ev/ebit number forecast for the current year. Despite a profit warning issued in March, Kempower shares are down after the results, with analysts suggesting that the next profit warning may be coming. However, there is a belief that market demand for chargers will pick up in the medium term as the number and share of electric cars in the fleet increases.
Kempower is guiding a turnover for the current year of 360–410 million euros and an operating profit margin of 5–10 percent. The company is also planning to move from the First North list to the main list of the Helsinki Stock Exchange in the second quarter at the earliest.
