Kempower (KEMPOWR) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 54% year-over-year to EUR 66.8 million, with North America revenue up 230% and strong gains in Europe outside the Nordics.

• Order intake reached a record EUR 69 million, up 16% year-over-year, and backlog stands at EUR 141 million, up 32% year-over-year.

• Operative EBIT improved to EUR -3.5 million from EUR -7.3 million, with margin up 11.6 percentage points, reflecting operating leverage.

• Eight new customers acquired, with significant market share gains and expansion of Megawatt Charging Systems deployments.

• Strategic focus on operational excellence, innovation, and geographic diversification.

Financial highlights

• Revenue: EUR 66.8 million (+54% year-over-year), with broad-based growth across regions.

• Gross profit: EUR 30.3 million (+41% year-over-year); gross margin: 45.3% (down 4.2pp year-over-year, flat sequentially).

• Operative EBIT: EUR -3.5 million (improved from EUR -7.3 million); margin: -5.2%.

• Cash flow from operating activities improved to EUR -1.1 million from EUR -7.5 million.

• Liquidity increased to EUR 119 million, among the strongest in the industry.

Outlook and guidance

• Full-year 2026 revenue expected to grow 10–30% versus 2025 (EUR 251.3 million), assuming stable FX rates.

• Operative EBIT for 2026 projected to improve significantly versus 2025 (EUR -12.4 million).

• Medium-term targets: revenue of EUR 750 million and operative EBIT margin of 10–15% by 2028.

• Continued strategic investments in technology, sales, and services, with a focus on long-term positioning.

• Guidance range maintained due to tougher H2 comparables and dynamic market conditions.