Slide 1: Kempower Q1 2024 Interim Report
Kempower Q1 2024 Interim Report
Slide 2: Growth strategy execution continues despite temporary market hiccups
Q1/2024: Growth strategy execution continues despite temporary market hiccups Tomi Ristimäki Jukka Kainulainen Chief Executive Officer Chief Financial Officer
Slide 3: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Kempower Corporation (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the
Slide 4: Quarter in brief
Quarter in brief • Financial performance – Key financials on a weak level due to customers’ high inventory levels, delayed grid connection availability on customers’ installation sites and political strikes in Finland. • Sales trends– Very positive sales pipeline and new customer development in key
Slide 5: Sales highlights
Sales highlights • Growing interest towards Kempower’s charging technology as we have won several new partnerships in commercial vehicles and public charging segments. • We onboarded 15 new customer accounts during the quarter • First orders from large fuel retailers in Europe, a global car manufact
Slide 6: Positive milestones in North America & NACS launch
Positive milestones in North America & NACS launch • Increased sales efforts especially in partner sales channels. • Production ramp up has progressed well. • Operations are in good hands while we search for a new North America leader. • Very important NEVI funding compliance progressing as planned.
Slide 7: Strengthening our competitive edge with our new product portfolio
Strenghtening our competitive edge with our new product portfolio • Ramping up production of the second- generation product portfolio has progressed better than planned. • Customers have been satisfied with the high performance and efficiency of the new technology. • This will strengthen our positio
Slide 8: First true MCS offering launch in the EV charging industry
First true MCS offering launch in the EV charging industry • At the Capital Markets Day 2023, we estimated that the commercial vehicle segment will take off rapidly and become the most important DC charging application by 2030. • Kempower launched its Megawatt Charging System for electric trucks as
Slide 9: Italy's first electric bus depot equipped with Kempower charging solutions
Italy’s first electric bus depot equipped with Kempower charging solutions
Slide 10: First public charging systems with Kempower DC fast charging technology installed in Germany
First public charging systems with Kempower DC fast charging technology installed in Germany
Slide 11: HEINEKEN and Einride joined forces with Kempower DC charging solutions
HEINEKEN and Einride joined forces to revolutionize freight mobility with Kempower DC charging solutions
Slide 12: Kempower and Kenter realize first charging-hub for electric trucks for DFDS
Kempower and Kenter realize first charging-hub for electric trucks for DFDS in Winterswijk
Slide 13: Transfer to the Nasdaq Helsinki main list
Transfer to the Nasdaq Helsinki main list • Kempower has been listed in the Nasdaq First North Growth Market for over 2 years and now it is time to take the next step. • Transfer to the Official List of Nasdaq Helsinki will happen at earliest during the second quarter of 2024. • The transfer will br
Slide 14: Sustainability
Sustainability • We started the pre- assurance process of our sustainability report to prepare for the upcoming CSRD regulation which will become mandatory. • Actions taken to strengthen our waste management to increase the utilization of the flow of materials. • Average daily charging power deliver
Slide 15: Financial Review
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Slide 16: Key figures
Key figures during the review period, IFRS EUR million Q1/2024 Q1/2023 2023 Comments Order backlog 111.9 124.4 110.6 • Q1/2024 Financials affected by Order intake 44.9 61.4 275.3 customers’ high inventory levels, the Revenue 42.6 55.8 283.6 launch of the next generation product portfolio and transpo
Slide 17: Order Intake was weak as expected
Order Intake was weak as expected Order intake (EUR million) Order backlog (EUR million) Comments • Q1/2024 Order intake affected by same factors than other Q1 financials. • Q1/2024 Order intake in the Nordics and North America increased from Q1/2023.
Slide 18: Q1/2024 revenue on a low level
Q1/2024 revenue on a low level Revenue by geographical area (EUR million) Comments • Revenue for Q1/2024 decreased 24 percent compared to Q1/2023. • Revenue from North America grew 139 percent compared to Q1/2023. • Revenue from all other regions geographical regions decreased. • Altogether revenue
Slide 19: Profitability and cash flow impacted by top line development
Profitability and cash flow impacted by top line development Operative EBIT (EUR million) Operating cash flow (EUR million) Comments • Operative EBIT impacted by low revenue for the quarter. • Operative EBIT was also impacted by EUR 10.6 million higher fixed costs compared to Q1/2023 especially in R
Slide 20: Kempower's outlook for 2024
Kempower’s outlook for 2024 Kempower remains committed to strive for rapid and profitable growth. In the short term, the fixed costs associated with these growth initiatives are expected to outpace revenue growth, thereby impacting profitability for the year 2024. Outlook for 2024 expects success wi
Slide 21: 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 22: Q&A
Q&A