Kempower

Powering planet cool. We charge our planet for the better by powering the electric movement. We enable quick and scalable EV charging solutions for everyone and everywhere. We make it positive. We believe in the power of positive energy. We see opportunities where others see obstacles. As a team we create success for us all and add value to people's lives. We make it quick. We like our charging experience fast and easy. We are quick to respond and quick to deliver. Our service is easy to sell and buy. We make it quick. We make the most user-friendly EV chargers that become future standards. Our products just click. They are flexible to integrate and to scale. We make it happen. We empower the EV evolution and create a cleaner and more quiet environment for us all. We inspire our audiences to join the electric movement. Plug in and be the change.

Good afternoon everybody and welcome to this webcast where we present Kemppower's financial results for the first half of the year 2024. My name is Paula Savonen. I am the VP of Communications at Kemppower and also the host for today's webcast. Today we have two presenters. We have our CEO Tomi Ristimäki and our CFO Jukka Kainulainen. You can ask questions any time during the presentations by typing the questions in the Q&A box on your screen in Finnish or in English, and we take all the questions in the end of the presentations. I hope you enjoy the presentations, and now over to Tomi.

Thank you, Paula. And looking at the current situation, of course, it's not as positive news as we have had in the past, so poor financial performance. Poor financial performance in the first half of the year due to continued high inventory levels at the customers and not able to close orders from new customers to actually fulfill the gap missing. It's good to remind us well when we compare like order intake that we are comparing now to our record quarter in 2023, which shows actually big, big difference. High inventory levels on our customer side prevail. Excess stocks are quite substantial. And looking at this situation from the point of view and as a reminder, isn't typical in the DC charging industry, the customers are not buying the products to sell them, they are buying them to install them. So basically, also when we look at the slowness of installation is affecting this figure. Sales development, that is a positive news. We look at 17 new customers onboarded during the quarter.