Despite weak first-quarter results, Kempower’s shares are beginning to attract attention from investors. The manufacturer of charging points for electric cars reported a 24 percent decrease in turnover and an operating loss of over 10 million euros. However, analysts are starting to view the company’s valuation coefficients as attractive, with an average target price of 29.71 euros and clear buy recommendations.
Inderes predicts that expansion activities will lead to a significant decrease in Kempower’s result in 2024, causing an increase in the ev/ebit number forecast for the current year. Despite a profit warning issued in March, Kempower shares have fallen after the results, with analysts suggesting that another warning may be on the horizon.
Despite these challenges, there is optimism about market demand for chargers in the medium term as the number and share of electric cars in the fleet continue to grow. Kempower is guiding a turnover of 360-410 million euros for the current year and an operating profit margin of 5-10 percent. Additionally, the company plans to move from the First North list to the main list of the Helsinki Stock Exchange in the second quarter at the earliest.