Short term outlook

New outlook for 2023

Kempower gave a positive profit warning on 17 July 2023 and raised its profit guidance for 2023.

Strong demand for Kempower’s electric vehicle charging solutions continued in the second quarter of 2023, exceeding the company’s expectations. At the same time, Kempower has succeeded in increasing its production capacity to match the surging market demand.  Kempower expects:

• 2023 revenue; EUR 280–310 million, assuming no major impact from foreign currency exchange rates (revenue 2022: EUR 104 million, the revenue outlook published earlier on 14 April 2023 was EUR 240–270 million), 
• 2023 operative EBIT margin, %; over 14% (updated on 19 October 2023. Operative EBIT margin % outlook published earlier on 18 July 2023 was; over 10%)

Kempower continues to seek strong growth in a profitable manner.  In H2 of 2023 Kempower will accelerate its growth initiatives towards the year 2024 both in Europe and in North America. Kempower expects significantly higher fixed costs for the second half of the year 2023.