Economic|Interim reports
Kempower, which was listed on the stock exchange at the end of last year, is growing rapidly.
11.8. 15:59 | Updated 13:57
Electric cars Kempower, which manufactures charging equipment, reported strong growth and improved prospects in its interim report on Thursday.
The turnover of the Lahtai company increased by 225 percent to 21.6 million euros in April–June from a year ago. Kempower’s operating profit was 1.8 million euros, while a year earlier it was 0.7 million euros.
The order book for charging devices multiplied to 62.4 million euros and the order intake grew to 55 million euros. In addition, the number of personnel increased considerably. At the end of March, the number of personnel was 176 and at the end of June, 260.
A weak stock market year the stock of the company that belongs to the biggest stock market rockets was on a strong rise on the Helsinki Stock Exchange on Thursday. The share price finally rose by 29.31 percent on Thursday.
Kempower benefits from the accelerating megatrend of electric cars and is growing at a furious pace. In the beginning of the year, its turnover multiplied, but the result was still at a loss. Demand could be expected to continue to grow, but the risk is the availability of components.
“The risk of reduced availability of components has increased in 2022, and finding suitable components as volumes increase requires our procurement and R&D teams [tutkimus ja kehitys] even more efforts”, CEO of Kempower Tomi Ristimäki says in the results release.
The company resolves component problems, for example, by maintaining safety stock and price increases, for example by raising its own prices.
In June, Kempower said he was aiming for the US market by the end of next year, i.e. two years ahead of their previous goal. At the beginning of the year, Kempower launched two charging systems on the US market.
According to Kempower, the company expects the demand for products to continue to be good and the market development to remain favorable. Kempower believes that the seasonal fluctuations of different quarters will ease, because the operation has expanded outside the Nordic countries.
Kempower is part of the Kemppi Group, which also owns Kemppi, which manufactures welding equipment.
Correction 13.8. 1:57 p.m.: Kempower’s number of employees at the end of March was 176, not 87, as was reported earlier in the story.
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