Kempower made a loss – also a difficult start to the year

The company, which manufactures charging systems for electric vehicles, expects its turnover to grow this year.

Kempower, a manufacturer of electric vehicle charging systems, made a loss last year.

The company’s operating result was a loss of €26.4 million last year, compared with a profit of €40.7 million in 2023.

Kempower’s turnover last year decreased by 21% to EUR 223.7 million.

Ristimäki states that 2024 was difficult for the whole industry. There is too much stock in the stock in relation to the decreased order volumes. However, the company has succeeded in tightening its costs, including with the change negotiations last year.

– We have also implemented key leadership changes to strengthen management and to move the company forward, says Ristimäki in the release.

Kempower expects that the first and second half of 2025 will be very different.

From the first half of the year, the company is expecting difficult due to a weak market situation and demand for additional stock levels. The company expects stocks to decrease at a rate of approximately the same rate as in the last quarter of 2024.

Kempower expects 2025 revenue to increase by 10-30 % from last year. The company expects to significantly improve the operational operating profit. However, the operational operating profit of the first quarter is expected to fall to a loss.