Kempower Oy · OMXHEX:KEMPOWR
Kempower Oy — Q4 2024 Earnings Presentation
29 slides from Kempower Oy's earnings presentation, Feb 12, 2025
Slide 1: Kempower Financial Statements Release 2024
Kempower Financial Statements Release 2024
Slide 2: Q4 2024: Strong year-end in a challenging market
Q4 2024: Strong year-end in a challenging market Tomi Ristimäki Jussi Vanhanen Jukka Kainulainen Chief Executive Officer Chief Market Officer Chief Financial Officer
Slide 3: Key takeaways Q4 2024
Key takeaways Q4 2024 Best quarter of the year: revenue EUR 71.7 million & operative EBIT margin of 1.1%. Second best order intake ever: thanks to increased and well targeted sales efforts. Q4 2024 key figures We are in good shape: organizational changes & processes, reformed Leadership, and decreas
Slide 4: Customers’ inventory levels
Customers’ inventory levels • Customers’ excess inventory levels have been industry-wide bottleneck, hindering growth in 2024. • The excess inventory levels have decreased at a steady pace. • During the year 2024 Kempower chargers’ installations grew globally around 30%. • Kempower expects that the
Slide 5: Sales development
Sales development • Kempower onboarded 22 new customers during the 4th quarter of 2024 (in total 66 for 2024). • We have increased focus on retail customers, where customers’ excess inventory does not exist to the same extent. • Significant growth in commercial vehicle segment order intake & revenue
Slide 6: Positive progress in North America
Positive progress in North America • The highest order Intake ever, contributing 15% of the total order Intake. • 84% revenue growth year-over-year, growing our market share. • Monil Malhotra appointed to lead our expansion in North America. • We are actively monitoring recent market developments in
Slide 7: DC charging market overview
DC charging "i ma rket overview
Slide 8: BEV registrations 2024 by country
BEV registrations New BEV registrations in Europe and NA by year (1000 units) 2024 by country United States 1,000 1,200 1,300 +8% 382 +21% United Kingdom 315 267 BEV registrations, share of core markets in 2024 Germany 381 -27% 524 471 291 -3% France 298 203 7% 190 +33% Canada 143 99 132 +16% Nether
Slide 9: Europe: eTrucks and eBuses registrations in 2024
Europe: eTrucks and eBuses registrations in 2024 Top 10 countries, new eTrucks registrations, yearly Top 10 countries, new eBus registrations, yearly 3,413 +57% 1,964 +49% Germany 2,169 United Kingdom 1,314 829 774 1,923 +28% 1,175 +187% United Kingdom 1,506 Italy 410 809 126 662 -42% 876 +5% Nether
Slide 10: BEVs 2.5% of the total car base in Europe in 2024
BEVs 2.5% of the total car base in Europe in 2024 European automotive market, total cars of all fuel types and BEVs 2024, cumulative (million units) 60 30% Total Number of Cars (all fuel types) 25,7% All the countries in Europe 50 25% Norway – have overall BEV share a best-in-class less than 10% (ex
Slide 11: BEVs 1.6% of the total car base in US in 2024
Total Number of Cars (all fuel types) 10 40 60 20 30 50 0 California 3,4% Texas Florida New York Ohio Pennsylvania Illinois Georgia North Carolina tipping point. Michigan Virginia No state in the USA have crossed the 5% BEV share New Jersey Washington Tennessee Arizona Indiana Missouri Wisconsin Mas
Slide 12: DC charging market forecast for 2030 unchanged (Europe & North America)
DC charging market forecast for 2030 unchanged (Europe & North America) Market value based on installed charging points (EUR billion) • According the latest market study market disruption in 2024 has 14 not changed long- term market forecast. +30% • The growth drivers are unchanged. • 2024 Kempower’
Slide 13: Market growth drivers
Market growth drivers 4. Total cost of 2. CO₂ emission 3. More affordable 1. Investment Debt ownership (TCO) for reduction targets BEVs commercial vehicles • Even with current BEV • From 2025, with new CO₂ • Carmakers are expected • The main driver for penetration there is emissions targets in to ra
Slide 14: Market outlook for 2025
Market outlook for 2025 First Half of 2025: • Market conditions remain weak and excess customer inventories still affect the demand • We expect the inventory to decline at the same rate as Q4 2024 • Second Half of 2025: • We expect market starting to recover during the second half of 2025. • Third-p
Slide 15: Our technology
Our technology • Kempower’s next-generation charger platform transition has been fully completed as planned. • We have successfully launched the MCS program and delivered first pilots of Mega Satellite to our customers. • ZapMap survey for EV drivers in the UK recognized Kempower’s charging system f
Slide 16: Customer segments
Customer segments Private cars Commercial vehicles Off-highway vehicles Coop, St1, Revel, Renault Mobilize, Be.EV, Power Dot, Recharge, Mer, Osprey Charging, Gilbarco Veeder-Root, FOR:EV, Allego, Virta, VINCI Autoroutes, eTerminal, Greenstation, Avia Weghorst, Neste, Vattenfall, Nobina, Vy Buss, Koi
Slide 17: Kempower provides Renault Mobilize with DC fast charging solutions
Kempower provides Renault Mobilize with DC fast charging solutions. 16 ultrafast EV charging stations have already opened across France, and around 40 are currently under construction or awaiting connection to the grid.
Slide 18: Kempower, DP World and Kalmar partnered on ultra-high-power charging for ports
Kempower, DP World and Kalmar partnered on Europe’s first ultra-high- power charging system for ports at DP World London Gateway
Slide 19: Kempower powers the leading Finnish beverages manufacturer Hartwall
Kempower powers the leading Finnish beverages manufacturer Hartwall’s sustainable deliveries
Slide 20: Sustainability highlights 2024
Sustainability highlights 2024 EcoVadis Silver Company car fleet 1,090 MWH daily Kempower’s EcoVadis score 100% electric +103% growth from 2023 of 69/100 places it in the 90th percentile, which means Kempower’s score is Currently the fleet consists of 175 EVs, higher than or equal to the score of 90
Slide 21: 2024 Financial Review
re — 2024 Financial Review =a Pewering Planet Cool. gy ~ QUE
Slide 22: Key figures
Key figures during the review period, IFRS EUR million Q4/2024 Q4/2023 2024 2023 Comments Order backlog 95.0 110.6 95.0 110.6 67.8 66.7 218.3 275.3 • Q4 2024 Key figures – positive result Order intake in all key figures. Revenue 71.7 82.8 223.7 283.6 • Q4 2024 Financials were positively Revenue grow
Slide 23: Second highest order intake in our history
Second highest order intake in our history Order intake (EUR million) Comments +32% Q4 • Order intake during Q4 2024 -21% Q3 EUR 67.8 million (EUR 66.7 275.3 Q2 million) which was second Q1 highest quarter in +459% 66.7 218.3 Kempower’s history. 208.9 • Order intake during the year 61.7 60.9 67.8 20
Slide 24: Q4 2024 revenue on a strong level
Q4 2024 revenue on a strong level Revenue by geographical area (EUR million) Comments • Revenue for Q4 2024 was EUR 71.7 million (EUR 82.8 million) and for the year 2024 EUR 223.7 million (EUR 283.6 +174% +269% -21% million). 283.6 11.3 • The decrease in revenue both for the 14.0 fourth quarter and
Slide 25: Profitability and cash flow development
Profitability and cash flow development Operative EBIT (EUR million) Operating cash flow (EUR million) Comments 14.3% 39.7 40.7 • Positive operative EBIT resulted from highest quarterly revenue during 2024 and reduced fixed costs. • Positive operating cash flow during the fourth quarter resulted pri
Slide 26: Headcount reduced significantly
Headcount reduced significantly Headcount development Comments +9% -7% +13% 907 -7% • At the end of fourth quarter in 2024 we 834 842 had 121 employees less compared to +97% 786 second quarter of 2024 driven mainly by 737 the change negotiations conducted in the third quarter of 2024. +176% 375 +258
Slide 27: Kempower’s outlook for 2025
Kempower’s outlook for 2025 In 2025, the company aims to return to a growth trajectory as the DC charging market is expected to start recovering in the second half of the year. Kempower continues to invest selectively in its growth initiatives including growth in North America, growth in key countri
Slide 28: Kempower’s financial targets
Kempower’s financial targets Financial targets Revenue of EUR 750 million in the medium term Growth (years 2026-2028) Operative EBIT margin of 10 percent to 15 percent reached Profitability in the medium term (years 2026-2028) and operative EBIT margin of at least 15 percent in the long term Dividen
Slide 29: Q&A
Q&A