Kempower’s first-quarter results met analysts’ expectations, but the company reported a 24% decrease in turnover and an operating loss of over 10 million euros. Despite this, analysts are beginning to view Kempower’s shares as attractive, with an average target price of 29.71 euros and clear buy recommendations.
Pauli Lohi, an insider analyst, notes that despite expansion measures impacting the company’s results, the valuation is starting to look decent even with realized earnings ratios. Inderes predicts that expansion activities will lead to a heavy decrease in the result in 2024, resulting in 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. Analysts suggest that the next profit warning may be coming due to market demand for chargers picking up in the medium term as more electric cars enter the fleet. Kempower is guiding a turnover for the current year of 360-410 million euros and an operating profit margin of 5-10%. Additionally, the company plans to move from the First North list to the main list of Helsinki Stock Exchange at earliest time in second quarter.