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 click. 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.

Hi everyone and welcome to this webcast where we present Kempower's financial results for the third quarter 2025. My name is Paula Savonen. I am the VP of Communications at Kempower and also the host for today's webcast. Today we have two presenters. We start with our CEO, Bhaskar Kaushal, and continue with our CFO, Jukka Kainulainen. You can ask questions anytime during the presentation by typing the questions in the Q&A box on your screen, and we take all the questions in the end. I hope you enjoy the presentations, and now over to Bhaskar.

Thanks, Paula, and good afternoon, everyone. So Q3 was my first full quarter as the CEO. And five months in, I'm very pleased with the progress we're making as a team. We're focused on the four priorities that I talked about three months back. We're building good execution discipline and momentum in those priority areas. And through that focus and discipline, we have delivered a strong growth and performance in Q3. Some quick highlights. Strong order intake growth in the quarter, up 45% versus last year, which was driven by new customer acquisitions across segments and regions. The order intake of 74.7 million euros is the second highest quarterly order intake in our company history. Strong revenue growth, which is up 41% versus last year. This was driven by exceptional growth in North America and Europe outside Nordics. Now, in Q3, we did benefit from a softer comparable versus last year, relatively soft Q3 and strong Q4 in 2024. On gross margins, we're holding steady. Year-to-date, we're at 48.4%, which is in line with last year's margins at this point. Operative EBIT was positive, so this quarter marks a return to profitability for us as a company. We improved EBIT by 8 million euros versus last year and by 1.9 million euros sequentially versus Q2. We maintained positive operating cash flow for the second consecutive quarter. And lastly, another solid performance by North America, where our strategic investments are bringing very good results. Now turning to some quick market updates. we saw strong growth in both new BEV registrations and new public fast charging installations across Europe and North America. In Q3, new BEV registrations grew 29% versus last year in North America and by 28% in Europe. Year to date, the new registrations are up 20% versus last year combined across these two regions. New public fast charging installations also saw strong growth in Q3, up 112% versus last year in North America and up 23% in Europe. Year-to-date, combined across these two regions, the new installations are up 7% versus last year. Also, very strong growth in e-trucks and e-buses. That market data comes with a bit of lag. It's not on the page. But through the first half of this year, new e-truck registrations were up 48% versus last year. And new e-bus registrations were up 38% versus last year. So this strong growth in new BEVs that we see across the vehicle segments shows an accelerating shift towards electric mobility. And tied to that is the increasing importance of reliable fast-charging solutions and infrastructure. Next, a quick update on some market trends. And around the world, we're seeing growing BEV sales driven by several factors. One, emissions reduction targets, particularly in Europe. You know, falling battery prices, more affordable battery electric vehicles in the market, and a lot more options for customers to choose from across different price tiers. In the U.S., we saw a mini-boom in the sales of BEVs in the third quarter. Now, that was partially driven by the expiration of the federal government subsidies in September. Those subsidies effectively reduced prices by up to $7,500 for select models. Now, we're seeing a number of OEMs respond to that subsidy expiration with offsetting price reductions. In terms of infrastructure funding, in the U.S., NEVI, which is the National Electric Vehicle Infrastructure Program, is open again. They're granting funds. They're taking applications. There's over $3 billion of funding still available to be granted from that program. So overall, we firmly believe that while policies and subsidies can help accelerate the transition, the favorable total cost of ownership and the economics remains the fundamental and lasting driver of the shift to electrification. And as one of our customers put it best, the electric mile is cheaper than the diesel mile. Now, shifting to where we are focused and how are we doing? Let me start with a quick reminder of our priorities, the four key pillars. Three months back, shortly after I started as the CEO, I talked about the four priorities that are critical for ChemPower to deliver now and to position us for long-term success. Now, these priorities are rooted in winning with customers, innovation, operational excellence, and building a winning culture. We've been defining clear initiatives, targets within each of these priority areas. We're improving our execution discipline, our say-do ratios, and as we deliver against the targets that we set, we build credibility. And I'm proud that the team has shown that through strong performance in the third quarter. Starting with winning with customers, that's at the heart of our growth strategy. We are gaining share by acquiring new customers and winning with strategic accounts. In Q3, we brought in 26 new customers. Approximately 40% of our order intake is from the new customers that we've added since the beginning of 2024. And these are industry-leading customers such as Circle K, ASCO, and Allegro. Our growth is also now more global and broad-based beyond the Nordics. Year-to-date, two-thirds of our sales approximately are from regions outside the Nordics. Now, that shows our growing global reach and impact. Specifically, we've had strong momentum in North America. In Q3, revenues were up 242% and order intake up 149% versus last year. And one of the highlights was the multiple site order we received from Power Up America, which is a NEVI-funded charge point operator. We're focused on continuing to build very strong and enduring customer relationships and supporting their evolving needs. Next, I want to talk briefly about our partners. In addition to our customers, we're building a strong ecosystem of sales and service partners around the world. They are very important in supporting our growing global reach and install base. In Q3, we hosted 100-plus participants from 63 partners from across the world, from Europe and North America to Asia and Africa. We spent three days together. We held trainings for our partners. We shared notes on all the market developments from different regions, different vehicle segments. We talked about new use cases that are emerging. And we also did some great team building. We had an unforgettable karaoke, probably the best rendition of Slim Shady that I've heard, better than Eminem himself could do. Now, we're stronger as a company by building these enduring relationships with our partners. Next, I'll talk about technology, which is the lifeblood of our business. And innovation is rooted in ChemPower's DNA. We're constantly striving to lead the industry. I want to share a couple of examples of how we are leading now in the electric truck charging with our megawatt charging system, which we call MCS. In Q3, our Swedish customer, Alfredsson, completed the world's first public MCS charging session in Sweden using ChemPower's megawatt charging unit. That's a really proud moment for our ChemPower and Alfredsson team. In Norway, we opened ASCO's first MCS public truck charging site with a distributed charging system. This is first of its kind in Norway. In the US, we also delivered our first MCS units to EV Realty in California. They're setting up a truck charging site that will be the largest grid-connected site in the US. Our technology, it's also enabling new use cases in the truck segment. And a good example is the fully electric heavy-duty post-e-truck that is hauling packages in the Finland area. Now, all of these examples highlight the momentum that we are building in e-truck charging with our MCS technology, in addition to everything that we're doing on the public charging for passenger cars. Now, Kempower is very well positioned to support this upcoming growth in the e-truck charging segment as well. Next, I'll talk about operational excellence, which is one of the foundational elements of our business. In Q3, our operations team delivered 41% growth in revenues versus last year through very strong execution and best in class on time delivery performance. In addition to the operations at our facilities, we're also improving our capabilities and execution in the field. In Q3, we opened a new spare parts hub in France, which enables delivery of critical components across mainland Europe within two working days. And by bringing these spare parts closer to our customers, we're improving delivery times and responsiveness. Along with the strong performance, safety and well-being of our employees is a top priority for us. And I'm pleased to share that we had zero accidents or lost time in our operations in Q3. And we'll continue to focus on this, keep improving our safety processes as we strive to maintain this record. We're also actively building our unit cost reduction program to drive productivity through our operations and supply chain. And all of these initiatives reflect the ongoing focus that we have on productivity, operational agility, and continuous improvement. Next, I want to take a moment to bring it back to our mission, our purpose, what drives us. And that is to drive emissions reduction and transition to sustainable energy. which we believe are two of the biggest challenges that we need to solve for our people and planet. And ChemPower does this by driving the electric mobility transition through best-in-class fast-charging solutions. We pride ourselves on being a green company, and NASDAQ agrees with us. I'm very pleased to share that ChemPower received the green equity designation renewal from NASDAQ in September. To remind you, the green equity designation is given to companies that have more than 50% of their turnover from activities considered green. Ours is 100%, by the way. And more than 50% of the company's investments must be allocated to activities considered green. We achieve these criteria with flying colors. Now, this designation is great for us, as it gives visibility and transparency for investors looking for sustainable green investments. Now, as I conclude, I'll first address the updated outlook for the year. On revenues, we're tightening our full year guidance range, reducing the upper end to 15% to better reflect the backlog delivery timing. Entering Q4 this year, we have strong backlog, but a good portion of that is for 2026 deliveries based on the timing of customer installations and order deliveries. Now, overall, to summarize our third quarter, I want to highlight three points. First, we're building positive momentum. The growth in sales and order intake demonstrates that. Second, we're in a strong strategic position. We are well positioned to capitalize on this growing market across different segments and regions. And we're continuing to invest for the future. And third, we're doing this while being financially disciplined. We have returned to positive operating EBIT in this quarter, and we continue to focus on profitable growth and executing on our priorities. Lastly, looking ahead, what is our strategy going forward? Now, over the last couple of months, I've been working very closely with our team on this. We're making excellent progress in shaping the next phase of our strategy. We're laying the groundwork. We're launching a range of initiatives to drive market leading growth, margin improvements, productivity, what are the next generation technologies, building a winning team and culture. And we're looking at adjustments to our operating model to operate more effectively and efficiently wherever necessary. And all of this is with the view to drive strong value creation as a company. We're planning to present this updated strategy in a capital markets day in the second quarter of 2026. And we'll share the exact date and location early in the new year. So overall, I'm excited about the progress we're making as a team. And I want to take a moment to thank all Kempower employees around the globe for delivering a strong quarter and for driving us forward as a company. And with that, I will hand it over to Jukka for a deep dive on the financials. Thank you.