Share and shareholders

Consensus estimates

The consensus estimates are provided by Modular Finance and are based on forecasts from analysts following Kempower. The analysts’ opinions, forecasts, and estimates regarding Kempower are theirs alone and do not represent opinions, forecasts, or predictions from the company itself. Consensus always reflects the latest available analyses.

Analysts

Firm	Name	Email
DNB Carnegie	Pia Rosqvist-Heinsalmi	pia.rosqvist-heinsalmi@dnbcarnegie.fi
Danske Bank Markets	Mika Karppinen	mika.karppinen@danskebank.com
Inderes	Pauli Lohi	pauli.lohi@inderes.fi
Nordea Markets	Patrick Campbell	patrick.campbell@nordea.com
OP Yrityspankki	Henri Parkkinen	henri.parkkinen@op.fi
SEB	Nikko Ruokangas	nikko.ruokangas@seb.fi
Stifel	Paul de Froment	paul.defroment@stifel.com

Metadata

Recommendations

Order Intake

Revenue

Gross profit

Operative EBIT

Annual estimates

	2024	2025	2026E	2027E	2028E
Order intake	218.3	303.5	364.2	442.2	502.5
Revenue	223.7	251.3	314.1	398.7	466.6
Revenue growth	-21.0%	12.0%	24.3%	26.8%	21.3%
Gross profit	109.0	119.6	149.9	189.1	221.0
Gross margin	48.7%	47.6%	47.5%	46.7%	46.8%
Operating profit (EBIT)	-28.8	-14.3	11.0	30.3	46.2
EBIT margin	-12.9%	-5.7%	3.4%	7.6%	9.9%
Operative EBIT	-26.4	-12.4	11.2	30.3	46.2
Operative EBIT margin	-11.8%	-4.9%	3.5%	7.6%	9.9%
Earnings per share	-0.42	-0.22	0.15	0.43	0.66

Quarterly estimates

	Q4 2025	Q1 2026E	Q2 2026E	Q3 2026E	Q4 2026E
Order intake	95.1	71.2	88.4	95.2	103.3
Revenue	71.9	57.5	76.7	86.2	87.9
Revenue growth	0.2%	32.1%	23.3%	16.9%	22.2%
Gross profit	32.8	27.9	36.3	39.3	41.7
Gross margin	45.6%	47.2%	47.3%	47.2%	47.2%
Operating profit (EBIT)	-4.2	-2.2	1.5	5.0	4.2
EBIT margin	-5.8%	-4.2%	2.0%	5.7%	4.8%
Operative EBIT	-3.6	-2.2	1.8	5.0	4.4
Operative EBIT margin	-5.0%	-4.2%	2.3%	5.7%	5.0%
Earnings per share	-0.06	-0.03	0.02	0.07	0.06

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