Kempower Oyj

Latest Results (06.08.2024):

Revenue Decline

In the second quarter of 2024, Kempower Oyj reported a revenue decrease of 21% to EUR 57.1 million, compared to EUR 72.5 million in the same period of 2023. For the first half of 2024, revenue fell by 22% to EUR 99.7 million, down from EUR 128.2 million in the first half of 2023.

Order Backlog and Intake

Kempower Oyj's order backlog at the end of Q2 2024 decreased to EUR 101.0 million from EUR 138.5 million at the end of Q2 2023. The order intake also saw a significant decline, dropping to EUR 54.1 million in Q2 2024 from EUR 86.3 million in Q2 2023.

Operative EBIT and Profit

For the second quarter of 2024, Kempower Oyj's operative EBIT decreased to EUR -8.5 million, representing -14.9% of revenue, compared to EUR 13.9 million or 19.2% of revenue in Q2 2023. The loss for the period was EUR 7.8 million, a stark contrast to the EUR 11.1 million profit recorded in the same quarter of the previous year.

Cash Flow

Kempower Oyj experienced a negative cash flow from operating activities amounting to EUR -16.3 million in Q2 2024, compared to a positive cash flow of EUR 20.5 million in Q2 2023. For the first half of 2024, the cash flow from operating activities was EUR -26.5 million, down from EUR 23.1 million in the first half of 2023.

Outlook for 2024

Kempower Oyj has revised its outlook for 2024, now expecting revenue to be between EUR 220 million and EUR 260 million, assuming no major impact from foreign currency exchange rates. The company also anticipates that the operative EBIT margin will be negative for the year, although profitability is expected to improve towards the end of the year, potentially reaching break-even in Q4 2024.