Kempower’s Q3 report showed that the expected improvement in order intake has not yet materialized. High customer stock levels weakened demand, and this impact is expected to continue until early 2025. The order intake amounted to EUR 51.5 million, 15% lower than the previous year and 11% below expectations. The company also lowered its full-year revenue guidance to EUR 220–230 million (previously EUR 220–260 million). According to an Inderes analyst, Kempower is expected to return to growth in 2025, but there is considerable uncertainty about the timing of the turnaround.
Has the stock declined enough, or… what?
A more detailed analysis from the Inderes analyst can be found below.