Kempower

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 Ken Power's financial results for the fourth quarter 2025. My name is Paula Savonen. I am the VP of Marketing and Communications and also the host for today's webcast. And today, we're actually streaming live from one of our factories in Lahti, Finland. Today, we have two presenters. We start with our CEO, Basker Korshall, and continue with our CFO, Jukka Kainulainen. You can ask questions anytime during the presentations 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 Basker.

Thanks, Paola, and good afternoon, everyone. It's great to be here in Lathi doing our earnings call for the fourth quarter. Look, overall, 2025 was a pivotal year for ChemPower. We returned to growth with revenues up double digit, we strengthened our market position with great customer wins, and we advanced our technology leadership in DC fast charging. And a good performance in the fourth quarter helped us finish 2025 on a strong note. The main highlight is the record highest quarterly and full-year order intake in company history. In Q4, order intake was 95 million euros, up 40% versus prior year, and for the full year, it was 303 million euros, up 39% versus prior year. This record order intake shows the growing trust and confidence customers are placing in ChemPower. It also demonstrates the strength of our competitiveness in the DC fast charging market. Now, regarding revenues, Q4 revenue growth was flat largely due to comparison period effects and customer order delivery timing. And for the full year, our revenues grew by 12% versus the prior year. This shows that despite the quarterly fluctuations, our growth trajectory remains strong. Regarding Operative EBIT, in Q4, Operative EBIT was negative due to a combination of lower gross margins and temporary fixed cost factors that are associated with just scaling up our business. But for the full year, we improved Operative EBIT by 14 million euros versus last year. So a significant year-on-year improvement as per our guidance. We generated positive operating cash flow for the third consecutive quarter. By doing so, we have strengthened our financial position while continuing to invest in growth for the future. And another strong quarter for North America. We recorded €21.3 million in order intake and €8.3 million in revenues in Q4, which is up 122% and 24% versus last year. Now, these results show our strengthening market share in the North American market. And finally, I'd say we're entering 2026 with a robust backlog of 141 million euros. Now, turning to some quick market updates, what we see is that the underlying demand drivers for DC fast charging infrastructure remain robust despite different market conditions across regions. In Europe, we saw very strong growth in BEV registrations and continued expansion of the DC fast charging infrastructure. Passenger car registrations were up 40% versus last year in Q4 and up 30% for the full year 2025. E-bus and E-truck registrations were up 58% in Q4 and up 56% for the full year. Now, new legislation such as the new EU grids package can help fast-track EV infrastructure growth, meaning shorter lead times from permit to power. It's currently in the proposal phase, and we expect that to go through. In North America, the market evolved a bit more unevenly. In Q4, new BEV registrations declined 36% in Q4 and 2% for the year, reflecting shifts in the federal incentives for EVs. However, NEVI program rules have been streamlined to help states push the projects forward faster, and as a result, public fast-charging installations grew 39% versus last year. So overall, this strong growth in new BEVs and public fast-charging installations, it shows that there's a clear and sustained shift towards electric mobility. Now, shifting to the priorities that we are focused on and how we are doing on those. In 2025, we defined and drove focus on our four key priorities. First, winning with customers. Second, being a technology leader with differentiated products by innovating. Third, driving operational excellence. And fourth, building a winning team and culture. And these are the four priorities that are critical for ChemPower to deliver now and to position us for long-term success. Now, we've defined very clear initiatives, KPIs, targets for each of these priority areas. We track these through dashboards. We're improving our execution discipline on these. And as we deliver against these targets that we set, we're building credibility internally and also externally. And I'm very proud that our team has shown that through strong progress across all four priorities in the fourth quarter. Next, I'd like to share a few examples of the progress we are making. Starting with winning with customers, that's at the heart of our growth strategy. We're gaining share by acquiring new customers and winning with strategic accounts. In Q4, we acquired 19 new customers, totaling 71 for the full year. In the US, we won business with Blink Charging, a fast-growing nationwide charging network. And this win validates our competitiveness in this key market and accelerates our expansion with a partner that is scaling coast to coast. In Europe, we secured new business with E.ON, which is one of the continent's largest energy and charging operators. And their scale and strong presence across the key EV markets makes this a high-impact partnership for us. In Asia Pacific, we added Ampol, Australia's leading fuel and convenience operator, transitioning into EV charging. And this win broadens our geographic reach and positions us early in what is a fast-emerging region. Second, I'd say our growth is now more global and broad-based beyond the Nordics, which has historically been our strongest market. If you look at in 2025, almost 70% of our sales are now from regions outside the Nordics. This shows our growing global reach and impact. And specifically, we have strong momentum in continental Europe and North America. In 2025, our order intake in Europe outside Nordics is up 58%, and it's up 137% in North America. Now, in the Nordics, order intake declined 17% year-on-year, as the CPO market has slowed a bit. But we're already starting to see a clear transition underway. Truck and depot charging is now picking up fast, and we expect this segment to drive the next wave of demand in the Nordics, just as this region led for passenger cars. In addition to building strong customer relationships around the globe, we're driving electrification across all key segments. This spans from retail sites like Circle K's fully electric forecourt to major public networks like GetCharged in New York. And we're also doing this at scale with some of the largest bus and fleet charging hubs in Europe, including sites such as Australia's largest bus charging hub that has 50-plus DC charging points and room to expand further. We're doing this at airports like Amsterdam Schiphol, where we have a large hub with 28 DC charging points that keeps critical transport moving in a key location. 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. And during this quarter, the megawatt charging system moved from validation into scaled real-world use. You can actually see the MCS product right behind me in our showroom here at Lati. And more than 350 successful MCS charging sessions were completed in Q4 across several locations. A few other highlights. ChemPower has now delivered MCS charging units across most Nordic countries. And all these charging sites, like the one with Circle K in Sweden, have distributed charging system using both CCS and MCS. Now this gives flexibility to the operators to use it for trucks or for passenger vehicles. We've also installed the first mega-satellite unit in France. With DP World, we have one of the world's largest port-based MCS deployments at the London Gateway Port, where there's 12 ChemPower MCS units that are powering Kalmar electric straddle carriers. So all of these examples demonstrate that we are very well positioned to lead in the e-truck and megawatt charging technology. Next, I'll talk about operational excellence, which is the foundation of our business. We're embedding cost excellence in everything we do across the end-to-end value chain. Now, in the second half of 2025, we launched a comprehensive product cost reduction program. This program is aimed at improving our unit cost economics. is going to help us defend and eventually grow our margins. Our approach is to stay price-cost neutral or positive. And it's a broad-based effort that covers the end-to-end value chain. It includes optimizing our supply chain, our assembly operations, and product design. We saw initial results already and savings starting in Q4 at a small scale. And we expect these benefits to ramp up through the course of 2026. Now, we pride ourselves on being a green and a sustainable company, and I'm pleased to share that ChemPower received the EcoAddis Gold Sustainability Rating in Q4. This places us amongst the top 5% of 130,000 plus companies that are assessed globally. We also successfully renewed our ISO 27001 certification, which confirms and shows our focus on cybersecurity and data protection. Now, all of these things and milestones, they reflect our commitment for responsible growth and also our position as a trusted partner for our customers. And finally, I want to take a moment to talk about the impact we are delivering. In 2025, we doubled the electricity delivered through our chargers versus 2024. Now, this reflects the growing impact that ChemPower is having on the electrification transition across the globe. Next, looking ahead as we turn the page into 2026 and our outlook. We're actively monitoring the market, and we see that market dynamics are a little bit different across regions. But the long-term electrification trend is clear and sustained. For 2026, we expect to grow revenues between 10% to 30% versus 2025. and improve operative EBIT significantly versus the negative 12.4 million euros that we ended in 2025. We are very focused on continuing to build ChemPower into a very strong platform for sustained profitable growth. You know, growth not just in one or two quarters, but sustained quarter after quarter, year after year. And we'll continue to invest selectively in areas that are aligned to our strategic priorities, technology, sales, and services. And we strongly believe that these investments are required for our long-term success while we, in the near term, navigate market variability with discipline. Now, to summarize, I want to highlight three points. First, we're building momentum going into 2026. We returned to growth in 25, and we've delivered record order intake to go into 26 with a solid backlog. Second, we're strengthening our strategic position. We have a stronger market position in all the key markets through continued customer wins. And we're doing this while continuing to invest for the future. And third, we're doing this while being financially disciplined. We significantly improved our operative EBIT in 2025. And we're driving cost excellence across everything we do. So we enter 2026 with building momentum, clear priorities, and a sharp focus on execution. ChemPower is well positioned for the next phase of growth. And I really want to thank our teams and our customers all around the world for their efforts, commitment, and trust. Now with that, I will hand it over to Jukka for the financials. Thank you.