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"scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "kem:ReserveOfInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "f-209": { "value": "5000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f-210": { "value": "6300.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-211": { "value": "-3693000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-212": { "value": "9679300.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-213": { "value": "101910000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-214": { "value": "80000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-215": { "value": "95656200.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "kem:ReserveOfInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "f-216": { "value": "5000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f-217": { "value": "5600.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-218": { "value": "-5259900.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-219": { "value": "42440400.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-220": { "value": "132927300.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-221": { "value": "-23218000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-222": { "value": "-23218000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-223": { "value": "-149500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-224": { "value": "-149500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-225": { "value": null, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f-226": { "value": "-149500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-227": { "value": "-23218000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-228": { "value": "-23367500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-229": { "value": "-7500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-230": { "value": "-7500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-231": { "value": "2295500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-232": { "value": "2295500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-233": { "value": "-7500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-234": { "value": "2295500.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-235": { "value": "2288000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-236": { "value": "80000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-237": { "value": "95656200.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "kem:ReserveOfInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "f-238": { "value": "5000.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f-239": { "value": "-143900.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-240": { "value": "-5267400.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-241": { "value": "21517800.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-242": { "value": "111847800.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-243": { "value": "
1.1 CORPORATE INFORMATION
Kempower Corporation (\u201cthe Parent Company\u201d) is a Finnish public liability
limited company and the parent company of the Kempower Group
(\u201cKempower\u201d, \u201cthe Kempower Group\u201d or \u201cthe Group\u201d). Kempower
Corporation is domiciled in Lahti and its registered address is
Ala-Okeroistentie 29, 15700 Lahti. The Company\u2019s shares are listed on the
Official list of Nasdaq Helsinki.
Kempower Corporation is part of Kemppi Group, whose parent company is
Kemppi Group Oy. Kemppi Group Oy is domiciled in Lahti and its registered
address is Kempinkatu 1, 15800 Lahti.
Kempower designs, manufactures and sells direct current (DC) fast
charging devices, solutions and services for EVs, such as personal and
commercial vehicles, mobile off\u2011highway machinery and electric marine
vessels and boats. Kempower offers a selection of solutions for all the fast-
charging needs ranging from public parking lots to bus depots and
terminal stops, heavy-duty commercial vehicles and other electric
vehicles, ports, and charging electric vessels and boats. Kempower\u2019s main
geographical markets are the Nordics, Europe outside the Nordics and
North America.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-244": { "value": "Kempower Corporation", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-245": { "value": "Kempower Corporation", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-246": { "value": "Corporation", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-247": { "value": "Ala-Okeroistentie 29, 15700 Lahti", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-248": { "value": "Kemppi Group Oy", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-249": { "value": "Kempower designs, manufactures and sells direct current (DC) fast charging devices, solutions and services for EVs, such as personal and commercial vehicles, mobile off\u2011highway machinery and electric marine vessels and boats. Kempower offers a selection of solutions for all the fast-charging needs ranging from public parking lots to bus depots and terminal stops, heavy-duty commercial vehicles and other electric vehicles, ports, and charging electric vessels and boats.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-250": { "value": "
1.2 BASIS OF PREPARATION
These consolidated financial statements have been prepared in
accordance with the IFRS Accounting Standards approved in the EU.
Kempower\u2019s Board of Directors confirmed these Consolidated Financial
Statements on 10\u00a0March 2026.
The consolidated financial statements present all monetary information in
euros, as the euro is the Kempower Group\u2019s operating currency and reporting
currency. The figures shown in the consolidated financial statements are
rounded, which means that the sum of given individual figures may deviate
from the sums shown in the tables. The items included at the time of the
Group companies\u2019 reporting are measured in the currency of the
company\u2019s main financial operating environment (operating currency). The
consolidated financial statements are presented in thousands of euros,
unless otherwise stated. The Kempower Group\u2019s consolidated financial
statements have been prepared based on original\u00a0cost except for certain
financial assets and liabilities, which are measured at fair value.
Translation of items denominated in foreign currency
Business transactions denominated in foreign currency are translated into
amounts representing the operating currency at the exchange rates of the
transaction completion date. Exchange rate gains and losses arising from
payments associated with such business transactions and from translation
of foreign currency denominated monetary assets and liabilities into the
exchange rate of the closing date are recognized through profit or loss.
The income statements and balance sheets of foreign units that apply a
different operating currency than the reporting currency are converted so
that the amounts shown represent the reporting currency as follows:
\u2022 The assets and liabilities of each balance sheet presented are converted
into the exchange rate of the reporting date in question
\u2022 The income and expenses in each income statement are converted into
the average exchange rates of the period, and
\u2022 All the exchange differences thereby arisen are recognized in other
comprehensive income.
The exchange differences arising from translating the eliminations related
to and the equity accumulated after acquisition of the Group\u2019s foreign
subsidiaries are recognized in other comprehensive income.
Consolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-251": { "value": "
These consolidated financial statements have been prepared in
accordance with the IFRS Accounting Standards approved in the EU.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-252": { "value": "
Kempower\u2019s Board of Directors confirmed these Consolidated Financial
Statements on 10\u00a0March 2026.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-253": { "value": "
The consolidated financial statements present all monetary information in
euros, as the euro is the Kempower Group\u2019s operating currency and reporting
currency. The figures shown in the consolidated financial statements are
rounded, which means that the sum of given individual figures may deviate
from the sums shown in the tables. The items included at the time of the
Group companies\u2019 reporting are measured in the currency of the
company\u2019s main financial operating environment (operating currency). The
consolidated financial statements are presented in thousands of euros,
unless otherwise stated. The Kempower Group\u2019s consolidated financial
statements have been prepared based on original\u00a0cost except for certain
financial assets and liabilities, which are measured at fair value.
Translation of items denominated in foreign currency
Business transactions denominated in foreign currency are translated into
amounts representing the operating currency at the exchange rates of the
transaction completion date. Exchange rate gains and losses arising from
payments associated with such business transactions and from translation
of foreign currency denominated monetary assets and liabilities into the
exchange rate of the closing date are recognized through profit or loss.
The income statements and balance sheets of foreign units that apply a
different operating currency than the reporting currency are converted so
that the amounts shown represent the reporting currency as follows:
\u2022 The assets and liabilities of each balance sheet presented are converted
into the exchange rate of the reporting date in question
\u2022 The income and expenses in each income statement are converted into
the average exchange rates of the period, and
\u2022 All the exchange differences thereby arisen are recognized in other
comprehensive income.
The exchange differences arising from translating the eliminations related
to and the equity accumulated after acquisition of the Group\u2019s foreign
subsidiaries are recognized in other comprehensive income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-254": { "value": "
Translation of items denominated in foreign currency
Business transactions denominated in foreign currency are translated into
amounts representing the operating currency at the exchange rates of the
transaction completion date. Exchange rate gains and losses arising from
payments associated with such business transactions and from translation
of foreign currency denominated monetary assets and liabilities into the
exchange rate of the closing date are recognized through profit or loss.
The income statements and balance sheets of foreign units that apply a
different operating currency than the reporting currency are converted so
that the amounts shown represent the reporting currency as follows:
\u2022 The assets and liabilities of each balance sheet presented are converted
into the exchange rate of the reporting date in question
\u2022 The income and expenses in each income statement are converted into
the average exchange rates of the period, and
\u2022 All the exchange differences thereby arisen are recognized in other
comprehensive income.
The exchange differences arising from translating the eliminations related
to and the equity accumulated after acquisition of the Group\u2019s foreign
subsidiaries are recognized in other comprehensive income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-258": { "value": "
Consolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-257": { "value": "
Consolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-256": { "value": "
Consolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-255": { "value": "
Consolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
1.3 ACCOUNTING POLICIES REQUIRING MANAGEMENT
JUDGEMENT AND KEY UNCERTAINTIES RELATING TO
THE\u00a0ESTIMATES
Preparation of the consolidated financial statements requires the
management\u2019s judgement as well as estimates and assumptions
concerning the future that have an effect on the reported assets and
liabilities and other information, such as contingent assets and liabilities
and recognition of expenses in the income statement. Although these
estimates and assumptions are based on the management\u2019s best
knowledge of current events and actions, the actual results may ultimately
differ from the estimates.
Deferred tax assets
Recognizing deferred tax assets in the balance sheet requires particular
prudence. A deferred tax asset is recognized when it is likely that the
Company will have enough taxable profit in the future to allow for utilization
of deferred tax assets exceeding deferred tax liabilities. The Group\u2019s
management exercises consideration in deciding whether to recognize
deferred tax assets based on tax losses carried forward. Projection of future
taxable cash flows is based on the Kempower Group\u2019s strategy, forecasts
and assessment of uncertainties. Group management monitors the
Group\u2019s financial position and evaluates future development at the end of
each reporting period. Deferred tax assets are recognized up to the extent
of probable future taxable profit, against which the tax losses carried
forward can be utilized.
The Group has recognized deferred tax assets arising from tax losses
carried forward. The recognition is based on management\u2019s assessment
that it is probable that sufficient taxable profits will be available in the
future to utilize these losses. This assessment considers approved strategic
plans and detailed financial forecasts covering a period of 5 years after
the financial year 2025.
Capitalization of development expenses
Development expenses that meet the capitalization criteria are recognized
in the balance sheet. Capitalization of development expenses is based on
the management\u2019s consideration, according to which the technological
and financial feasibility of the project has been ascertained.
Inventory valuation
The Group regularly reviews inventories for obsolescence and turnover, and
for possible reduction of net realizable value below cost and records a
write-down as necessary. Such reviews require assessments and changes
in the assessments may cause changes in inventory measurement in
future periods.
Provisions
The Group recognizes provisions for warranty work to be performed, and
the projected amount of these provisions is based on the actual volume of
similar work done in the past. The provisions are regularly reviewed and
revised as necessary to represent the best estimate available at the time
of observation. The actual cost may deviate from the estimate.
Expected credit loss allowance
The expected credit losses are based on assumptions of likely payment
defaults and on expected credit loss rates. Judgment is exercised when
making these assumptions and choosing the input information used in
estimating expected credit losses. The judgment is based on historical
information, prevailing market conditions and forward-looking assumptions
made at the end of each financial period.
Share-based payments
The Group recognizes the expense arising from share-based payments in
the consolidated income statement. With regard to stock options, the
Group\u2019s management makes estimates on certain factors required for the
option pricing model, such as volatility, the number of stock options that will
probably be issued for subscription and the probable stock option exercise
date. In regard to stock compensation, the management estimates the
number of shares that will probably be granted.
Estimates and accounting policies requiring management judgement
Deferred tax assets
2.8 Taxes
Capitalization of development expenses
3.1 Intangible assets
Inventory valuation
3.4 Inventories
Provisions
3.7 Provisions
Expected credit loss allowance
4.2 Financial risk management
Share-based payments
5.1 Share-based payments
Climate related matters
Kempower\u2019s business is based on the transition to low carbon economy.
Kempower\u2019s products enable the reducing of GHG emissions in road
transport.\u00a0 In preparing these consolidated financial statements,
management has considered climate-related matters in estimates and
assumptions. This assessment includes a wide range of possible impacts
on the group due to both physical and transition risks.
Climate related risks
In 2025, Kempower updated its long-term climate risk and opportunity
assessment in line with ESRS, using IPCC scenarios SSP1-1.9 (1.5\u00b0C) and
SSP4-8.5 (up to 4\u00b0C). The analysis covered all geographies, production sites
in Durham (US) and Lahti (Finland), and the full value chain. Results indicate
low physical climate risk but higher transition risks from regulatory changes,
market shifts, and technology developments. Mitigation plans are in place,
and Kempower\u2019s strategy is considered climate-resilient across short-,
medium-, and long-term scenarios.
Climate related risks and uncertainties are not estimated to have had
impacts on the financial statements for the year 2025 or for the following
financial year. The positive opportunities due to electrification of
transportation have a greater financial impact on financial statements
than the potential negative impacts of risks.
Direct financial impacts
Direct impacts of climate related matters to Kempower\u2019s financial
statements relate to the CO2 emission reduction target included in the
share-based incentive plans 2024-2026, 2025-2027 and 2026-2028
described in note 5.1 Share-based payments. Kempower also has unused
green revolving credit facilities (RCF), which include a Green Condition,
stipulating that at least 90% of the Group's revenue must be aligned with
the EU Taxonomy. This is a prerequisite for the facilities to be considered
'green'. For the year 2025, Kempower\u2019s revenue was 100 % aligned with the
EU Taxonomy.
Transition plan and targets
In 2025, Kempower conducted a comprehensive review of its greenhouse
gas emissions inventory while simultaneously updating its climate targets.
These efforts established an important foundation for the development of
a more formalized climate transition plan, which Kempower intends to
finalize in 2026. Kempower\u2019s climate ambitions are guided by the Paris
Agreement and greenhouse gas emission reduction targets aligned with
the criteria of the Science Based Targets initiative (SBTi). Climate-related\u00a0
planning is integrated into Kempower\u2019s business strategy under Board and
leadership oversight. The emissions connected with Kempower\u2019s activities
are not substantial. Emission reduction will create non-material costs to
Kempower, which are planned to be covered by the cash flows created in
Kempower\u2019s normal business operations. The actions in the transition plan
will not effect the recognition or measurement of Kempower\u2019s assets and
liabilities, because the transition plan does not effect the useful lives of
Kempower\u2019s production facilities or equipment.
1.4 NEW AND AMENDED STANDARDS AND INTERPRETATIONS
IFRS 18 Presentation and Disclosure in Financial Statements introduces new
requirements for presentation within the statement of profit or loss,
including specified totals and subtotals. It also requires disclosure of
management-defined performance measures as a separate note and
includes new requirements for aggregation and disaggregation of
financial information based on the identified roles of the primary financial
statements and the notes. IFRS 18 is effective for annual periods beginning
on or after 1 January 2027 and retrospective application is required.
According to Kempower\u2019s initial analysis the standard change will have
non-material effects on the financial statement information Kempower
presents and discloses. Kempower will adopt the standard retrospectively
on its effective date.
Accounting principles
Kempower\u2019s revenue mainly consists of deliveries of electric vehicle chargers and
charging stations it manufactures, charger maintenance services and project
sales involving turnkey deliveries of installed charging equipment to customers.
Kempower also provides its customers with the ChargEye SaaS service, a cloud-
based charging equipment management system. Kempower\u2019s customers are
mainly public charging operators, commercial vehicle fleet operators, vehicle and
equipment manufacturers and distributor and installer partners.
The payment terms and payment periods applied in the agreements are typically
14\u201390 days. The payment periods are less than a year, which means that no
significant financial component is recognized for the agreements.\u00a0
Determining the transaction price and allocating it
to performance obligations
The transaction prices are based on customer-specific agreements. Sales
proceeds are recognized at the amount to which the Group considers itself to be
entitled in exchange to the products and services it offers. If different performance
obligations are identified in the agreements, Kempower allocates the agreement\u2019s
fixed transaction price to different performance obligations based on the prices
applied when these are sold separately.
The amount presented as revenue is deducted by discounts. Volume-based
discounts are applied in product sales, based on actual sales over 12 months.
Sales are recognized based on the price stated in the agreement less estimated
volume-based discounts. For volume-based discounts expected to be given to
customers before the end of the reporting period, a liability based on the
agreement is recognized.
Evaluation and recognition of discounts are based on previous experience, and
revenue is only recognized up to an amount which is highly probable to be
realized.
Revenue recognition
Kempower records sales revenue from the charging equipment it sells when
control of the products is transferred to the buyer. The timing of transfer of control
depends on the delivery term used in the customer agreement (Incoterms).
The\u00a0revenue from maintenance services is recognized for the reporting period
during which the service is produced. The revenue from ChargEye SaaS services is
recognized over time as the services are provided. The revenue from extended
warranty sales is recognized for the reporting periods for which the warranty
applies. The revenue from charging equipment is recognized at point in time and
the revenue from services over time. When the agreement is a fixed-price
agreement relating to project sales, what is recognized is the share of the entire
service that has been realized by the end of the reporting period (fulfillment rate).
This share is determined based on the share of actual costs out of the expected
total costs.
Contract assets and liabilities in contracts with customers
When the invoiced amount of a project sales agreement is smaller than the
revenue recognized based on the fulfillment rate at the time of review, the
difference is recognized as a contract asset in the balance sheet line item
\u201cPrepaid expenses and accrued income\u201d. When the invoiced amount of a project
sales agreement is greater than the revenue recognized based on the fulfillment
rate at the time of review, the difference is recognized as a contract liability in
short term liabilities in the balance sheet line item \u201cAdvance payments\u201d. Other
assets and liabilities related to accrued revenue are recognized as accrued
receivables or accrued liabilities.
More information on trade receivables is presented in notes 3.5 and 4.2.
Segment reporting
Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker. Kempower\u2019s Board of
Directors has been designated as the chief operational decision maker in the
Group as defined in IFRS 8 Segment reporting standard. The Board of Directors
leads the Kempower Group as a single integrated business entity, and thereby
Kempower has one operating segment and reporting segment.
Accounting principles
Government grants are recognized in profit or loss at fair value, when it is
reasonably certain that they will be obtained, and the Company meets the criteria
for the grant. Government grants are accrued and recognized in the statement of
comprehensive income for the reporting period during which the criteria for the
grant are met corresponding to the actual costs.
Accounting principles
Materials and services include the direct business expenses related to purchases
of raw materials needed in production, external services, and the change in
inventory.
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
Accounting principles
Basic earnings per share are calculated by dividing the profit/loss for the financial
year attributable to equity holders of the parent company by the weighted
average number of externally owned shares during the financial year. The
weighted average number of shares is adjusted with the amount of treasury
shares. The diluting effect of the share-based incentive plans is taken into
account in the diluted earnings per share.
Accounting principles
The Kempower Group\u2019s intangible assets comprise capitalized product
development costs, intangible rights consisting of patents and trademarks and
other intangible assets such as software licenses. An intangible asset is measured
at cost, when it is probable that the intangible asset will produce financial benefit
in the future and its acquisition cost can be reliably determined. Intangible assets
have a limited useful economic life. Straight-line amortizations are recognized as
cost in the income statement during the estimated useful economic life.
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
The determination of useful economic lives of intangible assets is reassessed at
the end of each reporting period, and if the expected useful economic lives differ
from those previously determined, the difference is recognized as a change in
accounting estimates. Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
The profit or loss created from de-recognition of an intangible asset is determined
as the difference between the disposal price and the carrying value of the asset
and is recognized in the profit and loss statement either as other operating
income or other operating expense.
Critical accounting judgements:
Development expenses that meet the capitalization criteria will be recognized in
the balance sheet. The management uses judgement in determining whether the
Group has adequate technological and financial resources to successfully
complete the development work and whether the development project will
generate future cash flows in excess of the book value of the capitalized
development project. For such capitalized development expenses for which
amortization has not yet started, Kempower Group\u2019s management assesses at
the end of each reporting period whether the book values of capitalized
development expenses\u00a0 exceed the discounted net cash flows that the assets are
expected to produce. The expected future cash flows are based on uncertain
financial estimates.
Accounting principles
The Kempower Group\u2019s property, plant and equipment consists of machinery and
equipment together with improvement costs pertaining to leased premises.
Property, plant and equipment are measured at cost less depreciation and any
impairment losses. The acquisition cost includes any direct costs arising from the
acquisition that are necessary considering the asset item\u2019s location and
production for it to operate as planned by the management. Ordinary
maintenance and repair costs are recognized as expenses on an accrual basis.
Property, plant and equipment have the following estimated useful economic lives
and depreciation periods:
\u2022 Machinery and equipment 3\u20138 years
\u2022 Improvement costs pertaining to leased premises 5 years or the remaining
term of the lease, whichever is shorter
The depreciation will begin when the asset item is ready for use, i.e., when its
location and condition are such that it operates as intended by the Group\u2019s
management.
Property, plant and equipment are reviewed for amortization whenever there are
indications that their value may have reduced. An impairment loss is recognized
for an amount by which the asset\u2019s book value exceeds the recoverable amount.
The recoverable amount is the asset\u2019s fair value less sales cost or value in use,
whichever is higher. The value in use represents the discounted net cash flows
that the asset is expected to produce.
Accounting principles
Kempower\u2019s right-of-use assets include premises and vehicles leased by the
Group. The lease agreements are mainly fixed term agreements for 1\u201310 years.
The leases are recognized in the balance sheet as right-of-use asset items and
corresponding lease liabilities beginning from the day when the leased asset item
is at the Group\u2019s disposal. Lease payments are recognized as amortization of the
lease liability and the related interest expense. Right-of-use asset items are
depreciated over the useful economic life of the asset item or according to the
lease term.
The right-of-use asset items capitalized based on leases and the corresponding
lease liability are measured upon the commencement of the lease at the current
value of those minimum lease payments that remain outstanding on that day.
Considered in the calculation are the minimum lease payments at their
discounted value as well as the lease payments for optional additional lease
terms, if it is fairly certain that an option for such an additional lease term will be
exercised.
The Group applies the incremental borrowing rate as the discount rate for lease
payments. The lease payments for the premises are tied to the inflation index. The
index-based variable lease payments are part of the liability that is related to the
lease, and their value is calculated based on the index at the beginning of the
lease term. Index changes are considered for the accounting period during which
the index changes. The cash flows related to leases are reported as amortization
of lease liabilities in the cash flow statement under cash flow from financing
activities, and the interests paid on lease liabilities are reported under cash flow
from operating activities. The Group holds short-term leases, the lease term of
which is 12 months or less, as well as leases where the asset item in question is low
in value. These leases are recognized during the lease term as an expense in the
income statement.
Sale and leaseback
In sale and leaseback transactions, the Group assesses whether the transfer of
the asset satisfies the requirements of IFRS 15 for a sale. If the transfer is accounted
for as a sale, the right-of-use asset recognized in the balance sheet will be
measured by the portion of the carrying amount of the original asset that
corresponds to the value of the right to use that remains with the seller. The
portion of the sales proceeds of the asset corresponding to the rights transferred
to the buyer is presented as sales gain or loss. If the consideration for the sale of
the asset or payments for the lease do not equal the fair value, the difference is
recognized as an adjustment to the asset\u2019s sales proceeds. Any below-market
terms are accounted for as a prepayment of lease payments, and any above-
market terms are accounted for as financial liability. If the requirements for a sale
are not satisfied, the Group will present the transfer proceeds as financial liability
and continue to recognize the transferred asset in its balance sheet, if the
transferred items were recognized in the balance sheet before the transaction.
In the financial year 2024 the Group disposed laptops, phones, other IT equipment
and production raw materials to another party and leased the same items back.
These transactions did not qualify as a sale under IFRS 15 due to the presence of a
repurchase option. The proceeds received are recognized as financial liability and
the Group continues to recognize the transferred assets in its balance sheet. The
lease payments are allocated between interest expense and principal repayment
of this liability.
Accounting principles
Inventories consist of finished charging devices, charging components needed in
the manufacture of products, charger spare parts as well as unfinished products.
Inventories are measured at weighted average cost.
If the value of inventories falls below the above, inventories are measured at net
realizable value. The acquisition cost of inventories consists of all purchase costs,
production and logistics costs, handling costs and other costs directly attributable
to inventories. The acquisition cost of purchased inventories is deducted by
quantity discounts and cash discounts. The net realization value is the estimated
sales price obtained in ordinary business less direct sales costs.
Critical accounting judgements:
The Group regularly reviews inventories for obsolescence and turnover, and for
possible reduction of net realizable value below cost and records a write-down as
necessary. Such reviews require assessments and changes in the assessments
may cause changes in inventory measurement in future periods.
Accounting principles
Provisions are recognized, when the Group has a legal or constructive obligation
resulting from a past event, a payment obligation is likely to arise, and the amount
of obligation can be reliably estimated. Provision amounts are reviewed on each
balance sheet date and adjusted to reflect the current best estimate. The Group\u2019s
provisions are mainly warranty provisions based on the volume of actual warranty
work in the past. The Group generally applies a 24-month warranty period from
the date of commissioning or at maximum 30 months from the date of shipment.
The projected amount of warranty provision is based on past experience from
actual warranty work and the costs arising from it. Should the actual costs of
warranty work exceed the said provision, such excess will be recognized as an
expense. If the actual costs of warranty work fall below the provision, the
difference will be recognized as profit.
Critical accounting judgements:
The Group recognizes provision for warranty work based on past experience from
actual warranty work. The amount of provision is reviewed regularly and adjusted
where necessary to reflect the best estimate at the time of review. The actual
costs may differ from the estimates.
Accounting principles
The Group\u2019s equity consists of share capital, invested unrestricted equity fund,
other reserves, treasury shares, translation differences, and retained earnings.
Kempower\u2019s share is listed on the Official list of Nasdaq Helsinki. Kempower\u2019s
registered share capital is EUR 80,000 and the total number of shares is 55,542,920.
The Company has one series of shares. Each share entitles its holder to one vote
at the Annual General Meeting. The shares have no nominal value. Kempower\u2019s
shares are included in the book-entry system maintained by Euroclear Finland Oy.
The trading code of the shares is KEMPOWR and the ISIN code is FI4000513593.
Treasury shares
Consideration paid for the purchase of treasury shares is recognized directly in
equity. The cost of treasury shares is presented as a separate reserve reducing
the unrestricted equity of the Company.
Invested unrestricted equity fund
The subscription price of new shares is recorded in the reserve for invested
unrestricted equity unless it is decided in the share issue resolution to be recorded
partly or fully into share capital. Contributions to the reserve for invested
unrestricted equity can also be made without a share issue. Transaction costs
directly related to the issue of new shares and the funds raised are recognized as
net in the reserve for invested unrestricted equity.
Translation difference
Translation difference contains the translation differences arising from the
conversion of the acquired equity and the financial statements consolidated of
foreign subsidiaries. The change in translation difference is presented in other
comprehensive income.
Accounting principles
Kempower is exposed to several types of financial risks: foreign currency, interest,
financing, liquidity, credit, and counterparty risks. The most significant risks relate
to foreign currency, credit, and liquidity risks. The Group observes a uniform
treasury policy that has been approved by the Company\u2019s Board of Directors. The
Group\u2019s Chief Financial Officer is responsible for the management of financial
risks. The objective of risk management is to mitigate all possible financial risks
where financially reasonable.
Capital management and liquidity risk
Kempower\u2019s capital management aims to maintain the ongoing availability of
sufficient financial resources for the Group\u2019s operating activities. To maintain or to
change its capital structure the Group can issue new shares, get financing
through borrowings, or make changes to the execution of the planned growth
investments.
The Group\u2019s management monitors capital based on net debt. In the calculation
of net debt, the Group includes interest bearing liabilities deducted with cash and
cash equivalents and current financial assets. Interest bearing liabilities include
loans from financial institutions and lease liabilities.
Foreign currency risk
Kempower conducts its business in several countries in addition to which the
Company makes purchases from several countries. This exposes the Group to
different foreign currency risks. Foreign currency risks arise from net investments in
subsidiaries outside the euro zone (translation risk), and foreign currency
denominated assets, liabilities and expected business transactions (transaction
risk). The Group is mainly exposed to foreign currency risks related to USD, GBP,
NOK, SEK, CAD, AUD and PLN currencies. The financing of each Group company is
organized in the Group company\u2019s operating currency. The parent company
bears the foreign currency risk related to the financing of the Group companies.
The risk is primarily hedged with derivative instruments.
Interest risk
The changes in interest rates affect Kempower\u2019s financial items through deposits,
other financial assets, utilized bank overdrafts and other financial liabilities. The
investment portfolio is subject to interest rate risk, which is managed with the
duration of the portfolio.
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Accounting principles
The Company has classified the hierarchies of financial assets according to the
availability of data on market terms and other price data. The Group uses
generally accepted valuation models to determine the fair values of these
instruments, and the input data for these models is based in significant part on
observable market data.
The level in the fair value hierarchy at which a certain item measured at fair value
is classified overall is determined on the basis of the significant input data on the
lowest level with regard to the entire item measured at fair value. The significance
of input data is evaluated in its entirety in relation to the item valued at fair value.
The instruments at level 1 of the hierarchy are traded in active markets and their
fair values are directly based on quoted market prices. The Group mainly uses
valuations provided by its asset management partners as a source of price data.
The fair values of level 2 instruments, in significant part, are based on other input
data than the quoted prices included in level 1, although the data can be obtained
either directly (as a price) or indirectly (as a derivative of the price). To determine
the fair value of these instruments, the Group utilizes generally accepted valuation
models, which use input data that is, in significant part, based on observable
market data. The fair value of instruments at level 3 is not based on observable
market data (inputs not observable).
Financial assets
The Group\u2019s financial assets are classified either as measured at amortized cost,
measured at fair value through profit or loss or measured at fair value through
other comprehensive income. The financial assets are classified in the context of
their initial acquisition. At initial recognition, the Group measures a financial asset
at its fair value. Financial assets are subsequently measured at amortized cost,
measured at fair value through other comprehensive income or measured at fair
value through profit or loss. The purchases and sales of financial assets are
recognized in the balance sheet on the transaction date when the Group
commits to buy or sell a financial instrument. Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.
Accounting principles
Personnel offering
In October 2021, the Company carried out a directed share issue made in
deviation from the shareholders\u2019 pre-emptive subscription rights to engage
personnel of Kempower by issuing 5,789 new shares in a Personnel Offering. The
subscription price in the Personnel Offering was EUR 100.00 per share (before the
share issue without consideration registered on 26 November 2021, in which for
each existing share, 53 new shares were given). The members of Kempower\u2019s
personnel who participated in the Personnel Offering signed a shareholder
agreement in which they, among other things, committed to sell their shares to
the Company if their employment with Kempower ended in certain situations and
committed to a lock-up period based on which they could not sell, transfer,
donate or pledge the shares subscribed by them without a permission granted by
the Board of Directors of the Company until 31 December 2024.
Stock option program 2021
In November 2021, Kempower launched a stock option programme, the target
group of which was key employees working in Kempower\u2019s subsidiaries outside of
Finland as well as selected employees who had been employed after the
Personnel Offering. The programme aimed to foster employee commitment,
broaden the Company\u2019s ownership base and give the opportunity to Kempower\u2019s
personnel to benefit from the potential increase in the Company\u2019s value. The
number of options per employee was set so that the subscription price of the
options would not exceed the respective employee\u2019s two months\u2019 combined gross
salary. The subscription period for the stock options was between 1 January 2025
and 15 December 2025 and the subscription price was EUR 1.85 per option. In total
107,946 options were originally given. 95,252 options were exercised during the
subscription period.\u00a0
Share-based incentive programs
Share-based incentive plan 2022-2024
Kempower launched in March 2022 a share-based incentive programme for
Kempower\u2019s leadership team and key employees. The aim was to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares.
The Performance Share Plan 2022\u20132024 consisted of a three (3) year performance
period, covering the financial years of 2022\u20132024. The Board of Directors could
decide on new performance periods on a yearly basis.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan were to be paid
after the end of the performance period partly in Kempower\u2019s shares and partly in
cash to cover taxes and tax-related costs. During the performance period, the
rewards were based on the Total Shareholder Return of the Kempower share in
2022\u20132024 and Group Revenue in 2024. The value of the maximum rewards to be
paid on the targeted level corresponded to a total of approximately 130,000
Kempower\u2019s shares including also the cash proportion. However, if the targeted
performance criteria were to be significantly exceeded the ultimate maximum of
the rewards to be paid would correspond to a total of approximately 165,000
Kempower\u2019s shares. Approximately 20 persons, including the CEO and other
Kempower Extended Leadership Team members, belonged to the target group of
the performance period. The Extended Leadership Team member is obliged to
hold at least 50 percent of the shares received as a net reward from the
performance share plan, until the total value of the member\u2019s shareholding in
Kempower equals to 50 percent of their annual base salary of the preceding year.
Such number of Kempower\u2019s shares must be held as long as the membership in
the Extended Leadership Team continues.
On 8 May 2025 Kempower transferred a total of 45,286 of its own shares as the
reward for the performance period.
Share-based incentive plan 2023-2025
Kempower launched in February 2023 a share-based incentive programme for
Kempower group\u2019s key employees. The aim was to align the objectives of the
shareholders and key employees for increasing the value of the Company in the
long-term, to commit the key employees to work for the Company and to offer
them a competitive incentive scheme that was based on earning and
accumulating shares. The Performance Share Plan 2023\u20132025 consisted of a three
(3) year performance period, covering the financial years of 2023\u20132025.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period partly in Kempower\u2019s shares and partly in cash.
The cash proportion of the reward is intended for covering taxes and statutory
social security contributions arising from the rewards to the participants. In
general, no reward is paid if the participant\u2019s employment or director contract
terminates before the reward payment.
During the performance period, the rewards were based on the Total Shareholder
Return of the Kempower share in 2023\u20132025 and Group Revenue in 2023\u20132025. The
value of the maximum rewards to be paid on the targeted level corresponded to
a total of approximately 206,200 Kempower\u2019s shares including also the cash
proportion. Approximately 40 persons, including the CEO and other Kempower
Leadership Team members, belonged to the target group of the performance
period.
The Leadership Team member is obliged to hold at least 50 percent of the shares
received as a net reward from the performance share plan, until the total value of
the member\u2019s shareholding in Kempower equals to 50 percent of their annual
base salary of the preceding year. Such number of Kempower\u2019s shares must be
held as long as the membership in the Leadership Team continues.
Kempower expects to transfer approximately 30,000 shares as the reward for the
performance period during the first half of 2026.
Employee share savings plans
In February 2023 The Board of Directors of Kempower decided to establish an
Employee Share Savings Plan (ESSP) for the employees of Kempower and its
subsidiaries. The aim of the ESSP is to encourage employees to acquire and own
Kempower shares, and it is intended to align the interests of the shareholders and
the employees as well as to increase employees\u2019 motivation and long-term
commitment to the Company.
The ESSP consists of annually commencing plan periods, each one comprising of
a 12-month savings period and a holding period following the savings period. The
ESSP is offered to all Kempower employees in countries where there are no legal or
administrative constraints for participation. The employees will have an
opportunity to save a proportion of their salaries and an extra bonus and invest
those savings in Kempower shares. The savings will be used for acquiring
Kempower shares quarterly after the publication dates of the respective interim
reports. As a reward for the commitment, Kempower grants the participating
employees a gross award of one matching share for every two (2) savings shares
acquired with their savings. Continuity of employment and holding of acquired
savings shares for the duration of the holding period are the prerequisites for
receiving the award.
The potential award will be settled in shares, or partly in shares and partly in cash,
after the end of the holding period. The cash proportion is intended to cover taxes
and tax-related costs arising from the award in those countries where the
employer has the obligation to withhold taxes. Matching shares will be freely
transferable after their registration on the participant\u2019s book-entry account. Any
dividends to be paid on the acquired savings shares, the matching shares given
within the ESSP, and any other shares received within the ESSP will be reinvested in
additional shares on the next potential acquisition date. These shares will have an
equal right to matching shares.
Participation in the ESSP is voluntary and the employees will be invited to
participate in one plan period at a time. The first savings period commenced on
1 April 2023 and ended on 31 March 2024. The holding period of the first plan period
began at the first acquisition of savings shares and ends on 31 March 2026. The
estimated maximum expense for the first plan period is approximately EUR 1,3
million. The final expense depends on the employees\u2019 participation and savings
rate in the plan, and the fulfillment of the prerequisites for receiving matching
shares, as well as the number of shares acquired from the market with savings.
New plans have been established for period 2024\u20142027, which commenced on 1
April 2024 and ended on 31 March 2025, period 2025\u20142028, which commenced on
1 April 2025 and ends on 31 March 2026 and for period 2026\u20142029, which
commenced on 1 April 2026 and ends on 31 March 2027.
In addition, Kempower has established a Synthetic Share Unit Plan which is a
synthetic cash-based version of the Employee Share Savings Plan for Kempower
employees in certain countries where the regular plan is not feasible.
Share-based incentive plan 2024-2026
In December 2023 the Board of Directors of Kempower resolved to establish a
Performance Share Plan for the Group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares. The Performance Share Plan 2024\u20132026
consists of a three (3) year performance period, covering the financial years of
2024\u20132026.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2024\u20132026, Group Revenue in
2024-2026 and CO2 emission reduction per Revenue in 2024-2026. Growing
revenue together with a growing order intake indicates that there are more EV
charging infrastructure units installed to help the growth of more sustainable
transportation and the resultant moving away from fossil fuels, and the therefore
lowering of the CO2 emissions in transportation in general. The value of the
maximum rewards to be paid will correspond to a total of approximately 219,400
Kempower\u2019s shares including also the cash proportion. Approximately 50 persons,
including the CEO and other Kempower Leadership Team members, belong to the
target group of the performance period.
Restricted Share Unit Plan 2024-2027
In December 2023 the Board of Directors of Kempower resolved to establish a
Restricted Share Unit Plan for selected key employees of the Group. The purpose
of the plan is to align the interests of the Company\u2019s shareholders and key
employees to increase the Company\u2019s value in the long-term, to commit key
employees at the Company and to offer them a competitive incentive plan
based on receiving the Company\u2019s shares. The plan is intended to be used as a
tool in situations seen necessary by the Board of Directors, for example ensuring
retention of key talents to the Company, attracting a new talent or other specific
situations determined by the Board of Directors.
The Board of Directors may allocate rewards from the Restricted Share Unit Plan
2024\u20132027 during financial years 2024\u20132027.
The rewards will be paid by the end of May 2027, 2028, 2029, 2030 or 2031, but
always so that there is at least three (3) years between the determination of the
reward and the payment of the reward. The reward is based on a valid
employment or director contract and on the continuity of the employment or
service.
Share-based incentive plan 2025-2027
In February 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
company in the long term, to commit the key employees to work for the company
and to offer them a competitive incentive scheme that is based on earning and
accumulating shares. The Performance Share Plan 2025\u20132027 consists of a three
(3) year performance period, covering the financial years of 2025\u20132027.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2025\u20132027, Group Revenue in
2025\u20132027 and CO2 emission reduction per Revenue in 2025\u20132027. The value of
the maximum rewards to be paid will correspond to a total of approximately
675,000 Kempower\u2019s shares including also the cash proportion.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.
Share-based incentive plan 2026-2028
In December 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s selected target group. The aim is to align
the objectives of the shareholders and the individuals within the selected target
group for increasing the value of the company in the long term, to commit these
individuals to work for the company and to offer them a competitive incentive
scheme that is based on earning and accumulating shares. The Performance
Share Plan 2026\u20132028 consists of a three (3) year performance period, covering
the financial years of 2026\u20132028.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2026\u20132028, Group Revenue
in 2028 and CO2 emission reduction per Revenue in 2028. The value of the
maximum rewards to be paid will correspond to a total of approximately
644,670 Kempower\u2019s shares including also the cash proportion. The estimated
maximum expense for the performance period 2026\u20132028, based on
Kempower\u2019s share value in December 2025, is EUR 9,109,000 in total.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.\u00a0 \u00a0
Recognition of share and option arrangements
The benefits granted in share and stock option arrangements are measured at
fair value at the time of their granting and are recognized as an expense in the
income statement for the period during which the entitlement arises. The terms
and conditions based on performance of service are not considered at the fair
value of the benefit on the date of its granting; instead, their actual outcomes are
assessed, and they are considered by adjusting both the number of those equity
instruments to which an entitlement is expected to arise and the amount thereby
to be recognized as expense. An expense will be recognized cumulatively only with
respect to those instruments granted to which an entitlement arises. The profit
and loss effect of share and stock option arrangements is presented in personnel
expenses, and the corresponding increase is presented in equity. When an
arrangement has a net-settlement feature the arrangement is classified in its
entirety as an equity-settled share-based payment.
The expense determined at the time when the shares and stock options were
granted is based on the Group\u2019s estimate of the number of those shares and
stock options to which an entitlement is expected to arise during the earning
period. The Group annually updates the assumption on the ultimate number of
shares and stock options. The changes in valuations are treated as profit or loss.
The fair value of the stock option arrangements is determined based on the Black-
Scholes option pricing model. When stock options are exercised, the funds gained
from share subscriptions are recognized in the invested unrestricted equity fund.
Shares are measured at fair value at the share price of the date of their granting.
The Monte Carlo simulation is used to determine the fair value of such share
arrangements, which include the Total Shareholder Return as an earning criterion.
Cash-settled share-based payments are recognized as liabilities. The liability is
measured at fair value at each reporting date and at settlement. Changes in fair
value are recognized in profit or loss during the vesting period until settlement.
In the share purchase arrangement, the personnel were granted an entitlement
to subscribe shares at a reduced price. The shares subscribed have been
measured at fair value applying the share price of the date of their granting, and
the difference between the subscription price and the fair value was recognized
as an expense for the earning period of the benefit.
Critical accounting judgements:
The Group recognizes the costs related to share-based payments in the income
statement. In connection with share options, the Group\u2019s management makes
estimates related to aspects of the option pricing model, such as expected
volatility, the estimated number of options, and the expected option exercise date.
In connection with share-based incentive plans the Group\u2019s management makes
estimates on the number of shares likely to be granted.
Accounting principles
The parties are considered to be related parties if the other party is able to
exercise control or significant influence or joint control over the other party in
decision making concerning its finances or business.
Kempower\u2019s related parties include its subsidiaries and parent company Kemppi
Group Oy and its subsidiaries other than Kempower Group companies. Related
parties also include the members of Kempower\u2019s Board of Directors, CEO and the
members of the Global Leadership Team as well as their close family members
and companies under their significant influence or control. Kempower\u2019s related
parties also include the members of Kemppi Group Oy\u2019s Board of Directors and
their close family members and companies under their significant influence or
control.
Business transactions between Kempower and Kemppi Group are presented as
related party transactions. Such related party transactions include purchases of
materials from Kemptron Oy and Kemppi Oy, purchases of administration services
from Kemppi Group companies and premises leased from Kemppi Group
companies. Commitments related to future purchases from Kemptron Oy have
also been included in related party transactions.
Kempower\u2019s headquarters and production facilities are located in rental
properties. The headquarters and the connected production facilities in Lahti have
been leased from Kemppi Group Oy until 2031.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-259": { "value": "onsolidation principles
The Group\u2019s financial statements comprise the parent company
Kempower Corporation and its subsidiaries Kempower AB, Kempower AS,
Kempower Australia Pty Limited, Kempower B.V., Kempower Canada Inc.,
Kempower Charging Ltd, Kempower Charging Spain S.L.U., Kempower
Denmark ApS, Kempower GmbH, Kempower Inc., Kempower International
Oy, Kempower Italy S.R.L., Kempower Malaysia SDN. BHD., Kempower SAS ja
Kempower Sp z.o.o. Subsidiaries are entities where the Group has a
controlling interest. The Group has a controlling interest when it, through its
participation in the entity, becomes exposed or is entitled to the entity\u2019s
variable returns and is able to affect the amount of return it receives by
exercising authority over the entity.
Intra-group shareholding has been eliminated using the acquisition cost
method. The acquisition cost is considered to include the transferred funds
at fair value, the liabilities that arose or were assumed and the equity
instruments issued. Acquired subsidiaries are consolidated from when the
Group has gained a controlling interest, and divested subsidiaries are
consolidated until the Group ceases to have a controlling interest. All intra-
group business transactions, receivables, liabilities, and unrealized gains as
well as internal profit distribution are eliminated in the preparation of the
consolidated financial statements. Distribution of the financial period\u2019s
profit to parent company shareholders and non-controlling shareholders is
presented in conjunction with the income statement, and the share of
equity belonging to non-controlling shareholders is presented as a
separate item in equity. The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
5.4 GROUP STRUCTURE
Company name
Domicile
Ownership,
%
Kempower AB
Sollentuna, Sweden
100%
Kempower AS
Nannestad, Norway
100%
Kempower Australia Pty Limited
Sydney, Australia
100%
Kempower B.V.
Amsterdam, Netherlands
100%
Kempower Canada Inc.
Toronto, Ontario, Canada
100%
Kempower Charging Limited
Bedford, the United Kingdom
100%
Kempower Charging Spain S.L.U.
Barcelona, Spain
100%
Kempower Denmark ApS
Frederiksberg, Denmark
100%
Kempower GmbH
Bergisch Gladbach, Germany
100%
Kempower Inc.
Durham, North Carolina, the
United States
100%
Kempower International Oy*
Lahti, Finland
100%
Kempower Italy S.R.L
Milan, Italy
100%
Kempower Malaysia SDN. BHD.
Kuala Lumpur, Malaysia
100%
Kempower SAS
Paris, France
100%
Kempower SP Z.o.o.
Warsaw, Poland
100%
*Kempower International Oy includes the following branches: Podru\u017enica Zagreb (Zagreb,
Croatia), Kempower - Belgium branch (Brussels, Belgium), Zweigniederlassung \u00d6sterreich
(Vienna, Austria)
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-261": { "value": "The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-260": { "value": "The subsidiaries\u2019 reporting principles have been
amended to correspond to the Group\u2019s reporting principles. Kempower has
no goodwill on the balance sheet on 31\u00a0December 2025.
Accounting principles
The Kempower Group\u2019s intangible assets comprise capitalized product
development costs, intangible rights consisting of patents and trademarks and
other intangible assets such as software licenses. An intangible asset is measured
at cost, when it is probable that the intangible asset will produce financial benefit
in the future and its acquisition cost can be reliably determined. Intangible assets
have a limited useful economic life. Straight-line amortizations are recognized as
cost in the income statement during the estimated useful economic life.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-262": { "value": "
1.3 ACCOUNTING POLICIES REQUIRING MANAGEMENT
JUDGEMENT AND KEY UNCERTAINTIES RELATING TO
THE\u00a0ESTIMATES
Preparation of the consolidated financial statements requires the
management\u2019s judgement as well as estimates and assumptions
concerning the future that have an effect on the reported assets and
liabilities and other information, such as contingent assets and liabilities
and recognition of expenses in the income statement. Although these
estimates and assumptions are based on the management\u2019s best
knowledge of current events and actions, the actual results may ultimately
differ from the estimates.
Deferred tax assets
Recognizing deferred tax assets in the balance sheet requires particular
prudence. A deferred tax asset is recognized when it is likely that the
Company will have enough taxable profit in the future to allow for utilization
of deferred tax assets exceeding deferred tax liabilities. The Group\u2019s
management exercises consideration in deciding whether to recognize
deferred tax assets based on tax losses carried forward. Projection of future
taxable cash flows is based on the Kempower Group\u2019s strategy, forecasts
and assessment of uncertainties. Group management monitors the
Group\u2019s financial position and evaluates future development at the end of
each reporting period. Deferred tax assets are recognized up to the extent
of probable future taxable profit, against which the tax losses carried
forward can be utilized.
The Group has recognized deferred tax assets arising from tax losses
carried forward. The recognition is based on management\u2019s assessment
that it is probable that sufficient taxable profits will be available in the
future to utilize these losses. This assessment considers approved strategic
plans and detailed financial forecasts covering a period of 5 years after
the financial year 2025.
Capitalization of development expenses
Development expenses that meet the capitalization criteria are recognized
in the balance sheet. Capitalization of development expenses is based on
the management\u2019s consideration, according to which the technological
and financial feasibility of the project has been ascertained.
Inventory valuation
The Group regularly reviews inventories for obsolescence and turnover, and
for possible reduction of net realizable value below cost and records a
write-down as necessary. Such reviews require assessments and changes
in the assessments may cause changes in inventory measurement in
future periods.
Provisions
The Group recognizes provisions for warranty work to be performed, and
the projected amount of these provisions is based on the actual volume of
similar work done in the past. The provisions are regularly reviewed and
revised as necessary to represent the best estimate available at the time
of observation. The actual cost may deviate from the estimate.
Expected credit loss allowance
The expected credit losses are based on assumptions of likely payment
defaults and on expected credit loss rates. Judgment is exercised when
making these assumptions and choosing the input information used in
estimating expected credit losses. The judgment is based on historical
information, prevailing market conditions and forward-looking assumptions
made at the end of each financial period.
Share-based payments
The Group recognizes the expense arising from share-based payments in
the consolidated income statement. With regard to stock options, the
Group\u2019s management makes estimates on certain factors required for the
option pricing model, such as volatility, the number of stock options that will
probably be issued for subscription and the probable stock option exercise
date. In regard to stock compensation, the management estimates the
number of shares that will probably be granted.
Estimates and accounting policies requiring management judgement
Deferred tax assets
2.8 Taxes
Capitalization of development expenses
3.1 Intangible assets
Inventory valuation
3.4 Inventories
Provisions
3.7 Provisions
Expected credit loss allowance
4.2 Financial risk management
Share-based payments
5.1 Share-based payments
Climate related matters
Kempower\u2019s business is based on the transition to low carbon economy.
Kempower\u2019s products enable the reducing of GHG emissions in road
transport.\u00a0 In preparing these consolidated financial statements,
management has considered climate-related matters in estimates and
assumptions. This assessment includes a wide range of possible impacts
on the group due to both physical and transition risks.
Climate related risks
In 2025, Kempower updated its long-term climate risk and opportunity
assessment in line with ESRS, using IPCC scenarios SSP1-1.9 (1.5\u00b0C) and
SSP4-8.5 (up to 4\u00b0C). The analysis covered all geographies, production sites
in Durham (US) and Lahti (Finland), and the full value chain. Results indicate
low physical climate risk but higher transition risks from regulatory changes,
market shifts, and technology developments. Mitigation plans are in place,
and Kempower\u2019s strategy is considered climate-resilient across short-,
medium-, and long-term scenarios.
Climate related risks and uncertainties are not estimated to have had
impacts on the financial statements for the year 2025 or for the following
financial year. The positive opportunities due to electrification of
transportation have a greater financial impact on financial statements
than the potential negative impacts of risks.
Direct financial impacts
Direct impacts of climate related matters to Kempower\u2019s financial
statements relate to the CO2 emission reduction target included in the
share-based incentive plans 2024-2026, 2025-2027 and 2026-2028
described in note 5.1 Share-based payments. Kempower also has unused
green revolving credit facilities (RCF), which include a Green Condition,
stipulating that at least 90% of the Group's revenue must be aligned with
the EU Taxonomy. This is a prerequisite for the facilities to be considered
'green'. For the year 2025, Kempower\u2019s revenue was 100 % aligned with the
EU Taxonomy.
Transition plan and targets
In 2025, Kempower conducted a comprehensive review of its greenhouse
gas emissions inventory while simultaneously updating its climate targets.
These efforts established an important foundation for the development of
a more formalized climate transition plan, which Kempower intends to
finalize in 2026. Kempower\u2019s climate ambitions are guided by the Paris
Agreement and greenhouse gas emission reduction targets aligned with
the criteria of the Science Based Targets initiative (SBTi). Climate-related\u00a0
planning is integrated into Kempower\u2019s business strategy under Board and
leadership oversight. The emissions connected with Kempower\u2019s activities
are not substantial. Emission reduction will create non-material costs to
Kempower, which are planned to be covered by the cash flows created in
Kempower\u2019s normal business operations. The actions in the transition plan
will not effect the recognition or measurement of Kempower\u2019s assets and
liabilities, because the transition plan does not effect the useful lives of
Kempower\u2019s production facilities or equipment.
Accounting principles
The Group recognizes as tax expenses the taxes calculated on the Group
companies\u2019 financial results for the period, tax adjustments for previous years and
changes in deferred tax liabilities and deferred tax assets. The tax incidence that is
related to items recognized directly in equity is correspondingly recognized in
equity.
Deferred taxes are recognized based on the temporary differences between
carrying amount and taxable value, applying either the tax rate as valid on the
closing date or an established tax rate to be effective later. Deferred tax assets
are recognized up to the extent of probable future taxable profit, against which
the temporary difference can be utilized. The most substantial temporary
differences arise from losses carried forward, warranty provisions and the
expected credit loss allowance and accelerated depreciation. Whether the
conditions for recognizing deferred tax assets are met is reassessed at the end of
each financial period.
Tax-deductible losses are recognized as tax assets to the extent that the
Company can probably utilize them in the future.
Deferred tax assets and liabilities are offset for presentation purposes when there
is a legally enforceable right to offset income tax receivables against income tax
payables, and when the deferred tax assets and liabilities relate to income taxes
levied by the same taxation authority.
Critical accounting judgements:
A deferred tax asset is recognized when it is probable that future taxable profit will
be available, against which the deferred tax asset exceeding the deferred tax
liability can be utilized. The Group\u2019s management exercises judgement in deciding
whether to recognize deferred tax assets on unutilized confirmed losses. The
assessment of future taxable cash flows is based on the Kempower Group\u2019s
strategy, forecasts, and evaluation of related uncertainties. The Group\u2019s
management monitors the Group\u2019s financial status and evaluates its future
development at each reporting date. Deferred tax assets are recognized to the
extent that it is probable that future taxable profit will be available, against which
the deferred tax assets can be utilized.
Critical accounting judgements:
Development expenses that meet the capitalization criteria will be recognized in
the balance sheet. The management uses judgement in determining whether the
Group has adequate technological and financial resources to successfully
complete the development work and whether the development project will
generate future cash flows in excess of the book value of the capitalized
development project. For such capitalized development expenses for which
amortization has not yet started, Kempower Group\u2019s management assesses at
the end of each reporting period whether the book values of capitalized
development expenses\u00a0 exceed the discounted net cash flows that the assets are
expected to produce. The expected future cash flows are based on uncertain
financial estimates.
Critical accounting judgements:
The Group recognizes provision for warranty work based on past experience from
actual warranty work. The amount of provision is reviewed regularly and adjusted
where necessary to reflect the best estimate at the time of review. The actual
costs may differ from the estimates.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Critical accounting judgements:
The Group recognizes the costs related to share-based payments in the income
statement. In connection with share options, the Group\u2019s management makes
estimates related to aspects of the option pricing model, such as expected
volatility, the estimated number of options, and the expected option exercise date.
In connection with share-based incentive plans the Group\u2019s management makes
estimates on the number of shares likely to be granted.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-263": { "value": "
Provisions
The Group recognizes provisions for warranty work to be performed, and
the projected amount of these provisions is based on the actual volume of
similar work done in the past. The provisions are regularly reviewed and
revised as necessary to represent the best estimate available at the time
of observation. The actual cost may deviate from the estimate.
Expected credit loss allowance
The expected credit losses are based on assumptions of likely payment
defaults and on expected credit loss rates. Judgment is exercised when
making these assumptions and choosing the input information used in
estimating expected credit losses. The judgment is based on historical
information, prevailing market conditions and forward-looking assumptions
made at the end of each financial period.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-265": { "value": "
1.4 NEW AND AMENDED STANDARDS AND INTERPRETATIONS
IFRS 18 Presentation and Disclosure in Financial Statements introduces new
requirements for presentation within the statement of profit or loss,
including specified totals and subtotals. It also requires disclosure of
management-defined performance measures as a separate note and
includes new requirements for aggregation and disaggregation of
financial information based on the identified roles of the primary financial
statements and the notes. IFRS 18 is effective for annual periods beginning
on or after 1 January 2027 and retrospective application is required.
According to Kempower\u2019s initial analysis the standard change will have
non-material effects on the financial statement information Kempower
presents and discloses. Kempower will adopt the standard retrospectively
on its effective date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-264": { "value": "
1.4 NEW AND AMENDED STANDARDS AND INTERPRETATIONS
IFRS 18 Presentation and Disclosure in Financial Statements introduces new
requirements for presentation within the statement of profit or loss,
including specified totals and subtotals. It also requires disclosure of
management-defined performance measures as a separate note and
includes new requirements for aggregation and disaggregation of
financial information based on the identified roles of the primary financial
statements and the notes. IFRS 18 is effective for annual periods beginning
on or after 1 January 2027 and retrospective application is required.
According to Kempower\u2019s initial analysis the standard change will have
non-material effects on the financial statement information Kempower
presents and discloses. Kempower will adopt the standard retrospectively
on its effective date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-267": { "value": "
2.1 REVENUE
Accounting principles
Kempower\u2019s revenue mainly consists of deliveries of electric vehicle chargers and
charging stations it manufactures, charger maintenance services and project
sales involving turnkey deliveries of installed charging equipment to customers.
Kempower also provides its customers with the ChargEye SaaS service, a cloud-
based charging equipment management system. Kempower\u2019s customers are
mainly public charging operators, commercial vehicle fleet operators, vehicle and
equipment manufacturers and distributor and installer partners.
The payment terms and payment periods applied in the agreements are typically
14\u201390 days. The payment periods are less than a year, which means that no
significant financial component is recognized for the agreements.\u00a0
Determining the transaction price and allocating it
to performance obligations
The transaction prices are based on customer-specific agreements. Sales
proceeds are recognized at the amount to which the Group considers itself to be
entitled in exchange to the products and services it offers. If different performance
obligations are identified in the agreements, Kempower allocates the agreement\u2019s
fixed transaction price to different performance obligations based on the prices
applied when these are sold separately.
The amount presented as revenue is deducted by discounts. Volume-based
discounts are applied in product sales, based on actual sales over 12 months.
Sales are recognized based on the price stated in the agreement less estimated
volume-based discounts. For volume-based discounts expected to be given to
customers before the end of the reporting period, a liability based on the
agreement is recognized.
Evaluation and recognition of discounts are based on previous experience, and
revenue is only recognized up to an amount which is highly probable to be
realized.
Revenue recognition
Kempower records sales revenue from the charging equipment it sells when
control of the products is transferred to the buyer. The timing of transfer of control
depends on the delivery term used in the customer agreement (Incoterms).
The\u00a0revenue from maintenance services is recognized for the reporting period
during which the service is produced. The revenue from ChargEye SaaS services is
recognized over time as the services are provided. The revenue from extended
warranty sales is recognized for the reporting periods for which the warranty
applies. The revenue from charging equipment is recognized at point in time and
the revenue from services over time. When the agreement is a fixed-price
agreement relating to project sales, what is recognized is the share of the entire
service that has been realized by the end of the reporting period (fulfillment rate).
This share is determined based on the share of actual costs out of the expected
total costs.
Contract assets and liabilities in contracts with customers
When the invoiced amount of a project sales agreement is smaller than the
revenue recognized based on the fulfillment rate at the time of review, the
difference is recognized as a contract asset in the balance sheet line item
\u201cPrepaid expenses and accrued income\u201d. When the invoiced amount of a project
sales agreement is greater than the revenue recognized based on the fulfillment
rate at the time of review, the difference is recognized as a contract liability in
short term liabilities in the balance sheet line item \u201cAdvance payments\u201d. Other
assets and liabilities related to accrued revenue are recognized as accrued
receivables or accrued liabilities.
More information on trade receivables is presented in notes 3.5 and 4.2.
Segment reporting
Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker. Kempower\u2019s Board of
Directors has been designated as the chief operational decision maker in the
Group as defined in IFRS 8 Segment reporting standard. The Board of Directors
leads the Kempower Group as a single integrated business entity, and thereby
Kempower has one operating segment and reporting segment.
Revenue by recognition type
EUR 1,000
2025
2024
Point in time
239,590.6
215,213.9
Over time
11,704.7
8,483.3
Total
251,295.3
223,697.2
Contract assets and liabilities
EUR 1,000
2025
2024
Assets
3,972.9
3,148.5
Liabilities
21,373.8
10,673.9
Contract assets include sales accruals of EUR 3,972.9 (3,148.5) thousand, for
which the performance obligations have been fulfilled.
Contract liabilities include customer advance payments of EUR 1,897.5
(3,908.1) thousand, extended warranty sales of EUR 15,733.1 (5,939.9)
thousand and other sales accruals EUR 3,743.3 (825.9) thousand. The Group
expects to recognize the revenue of these performance obligations during
2026 except for the extended warranty sales, for which the revenue is
recognized during 2026\u20132036.
EUR 632.7 thousand of the contract liabilities on 31 December 2024 have
been recognized as revenue during the financial year 2025.
Revenue by geographical area
Kempower reports revenue according to the geographical regions below.
The naming of the regions has been changed in 2025, but the countries
included in each region have remained the same as in previous financial
years.
EUR 1,000
2025
2024
Finland
21,340.0
38,287.3
Other Nordic countries
57,527.1
59,598.8
Europe outside Nordics**
123,895.9
94,755.7
North America
30,961.6
20,767.0
APAC & MEA***
17,570.7
10,288.3
Total
251,295.3
223,697.2
*Other Nordic countries include Sweden, Norway, Denmark and Iceland
**Previously named Rest of Europe
***Asia Pacific & Middle East and Africa. Previously named Rest of the World.
Revenue by geographical area is classified based on the customer\u2019s
location.
In the financial years 2025 and 2024 none of Kempower's individual
customers contributed more than 10 percent of the Group's total revenue.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-266": { "value": "
2.1 REVENUE
Accounting principles
Kempower\u2019s revenue mainly consists of deliveries of electric vehicle chargers and
charging stations it manufactures, charger maintenance services and project
sales involving turnkey deliveries of installed charging equipment to customers.
Kempower also provides its customers with the ChargEye SaaS service, a cloud-
based charging equipment management system. Kempower\u2019s customers are
mainly public charging operators, commercial vehicle fleet operators, vehicle and
equipment manufacturers and distributor and installer partners.
The payment terms and payment periods applied in the agreements are typically
14\u201390 days. The payment periods are less than a year, which means that no
significant financial component is recognized for the agreements.\u00a0
Determining the transaction price and allocating it
to performance obligations
The transaction prices are based on customer-specific agreements. Sales
proceeds are recognized at the amount to which the Group considers itself to be
entitled in exchange to the products and services it offers. If different performance
obligations are identified in the agreements, Kempower allocates the agreement\u2019s
fixed transaction price to different performance obligations based on the prices
applied when these are sold separately.
The amount presented as revenue is deducted by discounts. Volume-based
discounts are applied in product sales, based on actual sales over 12 months.
Sales are recognized based on the price stated in the agreement less estimated
volume-based discounts. For volume-based discounts expected to be given to
customers before the end of the reporting period, a liability based on the
agreement is recognized.
Evaluation and recognition of discounts are based on previous experience, and
revenue is only recognized up to an amount which is highly probable to be
realized.
Revenue recognition
Kempower records sales revenue from the charging equipment it sells when
control of the products is transferred to the buyer. The timing of transfer of control
depends on the delivery term used in the customer agreement (Incoterms).
The\u00a0revenue from maintenance services is recognized for the reporting period
during which the service is produced. The revenue from ChargEye SaaS services is
recognized over time as the services are provided. The revenue from extended
warranty sales is recognized for the reporting periods for which the warranty
applies. The revenue from charging equipment is recognized at point in time and
the revenue from services over time. When the agreement is a fixed-price
agreement relating to project sales, what is recognized is the share of the entire
service that has been realized by the end of the reporting period (fulfillment rate).
This share is determined based on the share of actual costs out of the expected
total costs.
Contract assets and liabilities in contracts with customers
When the invoiced amount of a project sales agreement is smaller than the
revenue recognized based on the fulfillment rate at the time of review, the
difference is recognized as a contract asset in the balance sheet line item
\u201cPrepaid expenses and accrued income\u201d. When the invoiced amount of a project
sales agreement is greater than the revenue recognized based on the fulfillment
rate at the time of review, the difference is recognized as a contract liability in
short term liabilities in the balance sheet line item \u201cAdvance payments\u201d. Other
assets and liabilities related to accrued revenue are recognized as accrued
receivables or accrued liabilities.
More information on trade receivables is presented in notes 3.5 and 4.2.
Segment reporting
Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker. Kempower\u2019s Board of
Directors has been designated as the chief operational decision maker in the
Group as defined in IFRS 8 Segment reporting standard. The Board of Directors
leads the Kempower Group as a single integrated business entity, and thereby
Kempower has one operating segment and reporting segment.
Revenue by recognition type
EUR 1,000
2025
2024
Point in time
239,590.6
215,213.9
Over time
11,704.7
8,483.3
Total
251,295.3
223,697.2
Contract assets and liabilities
EUR 1,000
2025
2024
Assets
3,972.9
3,148.5
Liabilities
21,373.8
10,673.9
Contract assets include sales accruals of EUR 3,972.9 (3,148.5) thousand, for
which the performance obligations have been fulfilled.
Contract liabilities include customer advance payments of EUR 1,897.5
(3,908.1) thousand, extended warranty sales of EUR 15,733.1 (5,939.9)
thousand and other sales accruals EUR 3,743.3 (825.9) thousand. The Group
expects to recognize the revenue of these performance obligations during
2026 except for the extended warranty sales, for which the revenue is
recognized during 2026\u20132036.
EUR 632.7 thousand of the contract liabilities on 31 December 2024 have
been recognized as revenue during the financial year 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-268": { "value": "
Accounting principles
Kempower\u2019s revenue mainly consists of deliveries of electric vehicle chargers and
charging stations it manufactures, charger maintenance services and project
sales involving turnkey deliveries of installed charging equipment to customers.
Kempower also provides its customers with the ChargEye SaaS service, a cloud-
based charging equipment management system. Kempower\u2019s customers are
mainly public charging operators, commercial vehicle fleet operators, vehicle and
equipment manufacturers and distributor and installer partners.
The payment terms and payment periods applied in the agreements are typically
14\u201390 days. The payment periods are less than a year, which means that no
significant financial component is recognized for the agreements.\u00a0
Determining the transaction price and allocating it
to performance obligations
The transaction prices are based on customer-specific agreements. Sales
proceeds are recognized at the amount to which the Group considers itself to be
entitled in exchange to the products and services it offers. If different performance
obligations are identified in the agreements, Kempower allocates the agreement\u2019s
fixed transaction price to different performance obligations based on the prices
applied when these are sold separately.
The amount presented as revenue is deducted by discounts. Volume-based
discounts are applied in product sales, based on actual sales over 12 months.
Sales are recognized based on the price stated in the agreement less estimated
volume-based discounts. For volume-based discounts expected to be given to
customers before the end of the reporting period, a liability based on the
agreement is recognized.
Evaluation and recognition of discounts are based on previous experience, and
revenue is only recognized up to an amount which is highly probable to be
realized.
Revenue recognition
Kempower records sales revenue from the charging equipment it sells when
control of the products is transferred to the buyer. The timing of transfer of control
depends on the delivery term used in the customer agreement (Incoterms).
The\u00a0revenue from maintenance services is recognized for the reporting period
during which the service is produced. The revenue from ChargEye SaaS services is
recognized over time as the services are provided. The revenue from extended
warranty sales is recognized for the reporting periods for which the warranty
applies. The revenue from charging equipment is recognized at point in time and
the revenue from services over time. When the agreement is a fixed-price
agreement relating to project sales, what is recognized is the share of the entire
service that has been realized by the end of the reporting period (fulfillment rate).
This share is determined based on the share of actual costs out of the expected
total costs.
Contract assets and liabilities in contracts with customers
When the invoiced amount of a project sales agreement is smaller than the
revenue recognized based on the fulfillment rate at the time of review, the
difference is recognized as a contract asset in the balance sheet line item
\u201cPrepaid expenses and accrued income\u201d. When the invoiced amount of a project
sales agreement is greater than the revenue recognized based on the fulfillment
rate at the time of review, the difference is recognized as a contract liability in
short term liabilities in the balance sheet line item \u201cAdvance payments\u201d. Other
assets and liabilities related to accrued revenue are recognized as accrued
receivables or accrued liabilities.
More information on trade receivables is presented in notes 3.5 and 4.2.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-269": { "value": "
The amount presented as revenue is deducted by discounts. Volume-based
discounts are applied in product sales, based on actual sales over 12 months.
Sales are recognized based on the price stated in the agreement less estimated
volume-based discounts. For volume-based discounts expected to be given to
customers before the end of the reporting period, a liability based on the
agreement is recognized.
Evaluation and recognition of discounts are based on previous experience, and
revenue is only recognized up to an amount which is highly probable to be
realized.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-271": { "value": "
Segment reporting
Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker. Kempower\u2019s Board of
Directors has been designated as the chief operational decision maker in the
Group as defined in IFRS 8 Segment reporting standard. The Board of Directors
leads the Kempower Group as a single integrated business entity, and thereby
Kempower has one operating segment and reporting segment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-270": { "value": "
Segment reporting
Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker. Kempower\u2019s Board of
Directors has been designated as the chief operational decision maker in the
Group as defined in IFRS 8 Segment reporting standard. The Board of Directors
leads the Kempower Group as a single integrated business entity, and thereby
Kempower has one operating segment and reporting segment.
Revenue by geographical area
Kempower reports revenue according to the geographical regions below.
The naming of the regions has been changed in 2025, but the countries
included in each region have remained the same as in previous financial
years.
EUR 1,000
2025
2024
Finland
21,340.0
38,287.3
Other Nordic countries
57,527.1
59,598.8
Europe outside Nordics**
123,895.9
94,755.7
North America
30,961.6
20,767.0
APAC & MEA***
17,570.7
10,288.3
Total
251,295.3
223,697.2
*Other Nordic countries include Sweden, Norway, Denmark and Iceland
**Previously named Rest of Europe
***Asia Pacific & Middle East and Africa. Previously named Rest of the World.
Revenue by geographical area is classified based on the customer\u2019s
location.
In the financial years 2025 and 2024 none of Kempower's individual
customers contributed more than 10 percent of the Group's total revenue.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-274": { "value": "
2.2 OTHER OPERATING INCOME
Accounting principles
Government grants are recognized in profit or loss at fair value, when it is
reasonably certain that they will be obtained, and the Company meets the criteria
for the grant. Government grants are accrued and recognized in the statement of
comprehensive income for the reporting period during which the criteria for the
grant are met corresponding to the actual costs.
EUR 1,000
2025
2024
Government grants
2,734.1
1,688.2
Insurance compensations
12.6
64.4
Gain from change in fair value of operative
derivatives, unrealized
301.0
Gain from change in fair value of operative
derivatives, realized
262.3
204.7
Other operating income
391.5
825.5
Total
3,400.4
3,083.9
Government grants mainly consist of Business Finland's support for the
research phase of research and development activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-273": { "value": "
2.2 OTHER OPERATING INCOME
Accounting principles
Government grants are recognized in profit or loss at fair value, when it is
reasonably certain that they will be obtained, and the Company meets the criteria
for the grant. Government grants are accrued and recognized in the statement of
comprehensive income for the reporting period during which the criteria for the
grant are met corresponding to the actual costs.
EUR 1,000
2025
2024
Government grants
2,734.1
1,688.2
Insurance compensations
12.6
64.4
Gain from change in fair value of operative
derivatives, unrealized
301.0
Gain from change in fair value of operative
derivatives, realized
262.3
204.7
Other operating income
391.5
825.5
Total
3,400.4
3,083.9
Government grants mainly consist of Business Finland's support for the
research phase of research and development activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-272": { "value": "
2.2 OTHER OPERATING INCOME
Accounting principles
Government grants are recognized in profit or loss at fair value, when it is
reasonably certain that they will be obtained, and the Company meets the criteria
for the grant. Government grants are accrued and recognized in the statement of
comprehensive income for the reporting period during which the criteria for the
grant are met corresponding to the actual costs.
Government grants mainly consist of Business Finland's support for the
research phase of research and development activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-275": { "value": "
Accounting principles
Government grants are recognized in profit or loss at fair value, when it is
reasonably certain that they will be obtained, and the Company meets the criteria
for the grant. Government grants are accrued and recognized in the statement of
comprehensive income for the reporting period during which the criteria for the
grant are met corresponding to the actual costs.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-276": { "value": "
EUR 1,000
2025
2024
Government grants
2,734.1
1,688.2
Insurance compensations
12.6
64.4
Gain from change in fair value of operative
derivatives, unrealized
301.0
Gain from change in fair value of operative
derivatives, realized
262.3
204.7
Other operating income
391.5
825.5
Total
3,400.4
3,083.9
The parent company
bears the foreign currency risk related to the financing of the Group companies.
The risk is primarily hedged with derivative instruments
EUR 1,000
2026
2027
2028
2029\u2013
thereafter
Total
Trade payables
44,081.9
44,081.9
Accruals for trade payables
6,740.9
6,740.9
Other non-interest-bearing liabilities
138.3
138.3
Derivatives - Capital inflow
-56,199.6
-56,199.6
Derivatives - Capital outflow
56,202.3
56,202.3
Loans from financial institutions including interest costs
12,219.0
147.0
39.7
12,405.7
Lease liabilities including interest costs
8,605.6
7,084.2
4,766.4
7,457.7
27,913.9
Total
71,788.5
7,231.2
4,806.1
7,457.7
91,283.5
EUR 1,000
2025
2026
2027
2028\u2013
thereafter
Total
Trade payables
29,665.0
29,665.0
Accruals for trade payables
6,182.7
6,182.7
Other non-interest-bearing liabilities
0.5
0.5
Derivatives - Capital inflow
-36,827.8
-36,827.8
Derivatives - Capital outflow
37,073.8
37,073.8
Loans from financial institutions including interest costs
10,067.9
2,607.0
147.0
39.7
12,861.6
Lease liabilities including interest costs
9,289.3
8,057.3
6,549.2
11,673.0
35,568.7
Total
55,451.4
10,664.3
6,696.2
11,712.7
84,524.5
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
10,120.6
-133.7
-379.3
-1,258.1
1,592.7
8,444.4
-912.7
Hedging derivatives
-11,416.8
-561.1
-591.1
10.0
-1,655.5
-8,185.1
471.0
Open exposure
-1,296.2
-694.8
-970.4
-1,248.1
-62.8
259.3
-441.8
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
31 Dec 2025
31 Dec 2025
31 Dec 2025
31 Dec 2024
31 Dec 2024
31 Dec 2024
Fair values of derivative contracts, EUR 1,000
Derivative assets
Derivative liabilities
Fair value, net
Derivative assets
Derivative liabilities
Fair value, net
Foreign currency derivatives
361.2
365.3
-4.2
84.2
330.3
-246.1
Notional principal amounts of derivative contracts, EUR 1,000
31 Dec 2025
31 Dec 2024
Foreign currency derivatives
56,457.6
37,090.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-279": { "value": "
2.3 MATERIALS AND SERVICES
Accounting principles
Materials and services include the direct business expenses related to purchases
of raw materials needed in production, external services, and the change in
inventory.
EUR 1,000
2025
2024
Purchases during the financial year
-121,478.6
-110,428.9
External services
-3,865.6
-2,219.9
Change in inventories
1,755.9
5,570.2
Total
-123,588.3
-107,078.6
2.4 EMPLOYEE BENEFITS
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.
EUR 1,000
2025
2024
Wages and salaries
-60,189.7
-57,445.3
Pension expenses - defined contribution plans
-7,967.0
-7,702.7
Share-based employee benefits
-2,390.2
-2,295.5
Other social security expenses
-4,928.4
-4,353.5
Total
-75,475.3
-71,797.0
2025
2024
Number of personnel at the end of the period
825
786
Average number of personnel
813
840
2.5 OTHER OPERATING EXPENSES
EUR 1,000
2025
2024
Sales and marketing expenses
-6,597.7
-8,008.6
Credit loss allowances
2,022.1
-2,296.5
Administration expenses
-10,587.2
-10,606.3
IT expenses
-8,662.4
-11,363.8
Premises and vehicle expenses
-4,822.7
-4,640.3
Machinery and tool expenses
-1,426.7
-2,080.8
Research and development expenses
-5,339.1
-6,498.2
Warranty expenses
-18,029.3
-17,511.8
Other personnel expenses
-2,699.8
-2,916.7
Total
-56,142.8
-65,923.0
Auditor\u2019s fee
EUR 1,000
2025
2024
Ernst & Young Oy
Audit fee
-296.2
-411.4
Sustainability Statement assurance fee
-158.8
-138.8
Tax advisory
-59.7
-24.6
Other fees
-39.5
-51.0
Total
-554.1
-625.8
2.6 DEPRECIATION, AMORTIZATION AND IMPAIRMENT
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
EUR 1,000
2025
2024
Intangible assets
Amortizations
-804.7
-831.0
Property, plant and equipment
Depreciations
-5,598.0
-3,328.7
Right-of-use assets
Depreciations
-7,357.3
-6,622.6
Total
-13,760.0
-10,782.2
2.7 FINANCE INCOME AND EXPENSE
EUR 1,000
2025
2024
Finance income
Change in fair value of other financial assets
1,805.1
1,131.4
Unrealized foreign exchange gain
546.6
1,153.8
Realized foreign exchange gain
1,503.3
425.7
Interest income
388.5
397.2
Other finance income
3.3
1,612.3
Total
4,246.7
4,720.5
Finance expenses
Unrealized foreign exchange loss
-1,725.7
-792.6
Realized foreign exchange loss
-722.4
-1,306.2
Interest expenses
-2,226.2
-1,976.8
Other finance expenses
-300.2
-88.1
Total
-4,974.4
-4,163.6
Total finance income and expenses
-727.7
556.8
Amounts recognized in the statement of
comprehensive income
EUR 1,000
2025
2024
Depreciation of right-of-use assets
Buildings
-4,920.9
-4,400.3
Machinery and equipment
-2,436.4
-2,222.2
Total
-7,357.3
-6,622.6
Interest expense (included in finance cost)
-1,254.8
-1,330.7
Expense relating to leases of short-term and low
value (included in other operating expenses)
-440.7
-529.5
Total cash flow from leases
-8,733.7
-7,989.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-278": { "value": "
2.3 MATERIALS AND SERVICES
Accounting principles
Materials and services include the direct business expenses related to purchases
of raw materials needed in production, external services, and the change in
inventory.
EUR 1,000
2025
2024
Purchases during the financial year
-121,478.6
-110,428.9
External services
-3,865.6
-2,219.9
Change in inventories
1,755.9
5,570.2
Total
-123,588.3
-107,078.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-277": { "value": "
2.3 MATERIALS AND SERVICES
Accounting principles
Materials and services include the direct business expenses related to purchases
of raw materials needed in production, external services, and the change in
inventory.
EUR 1,000
2025
2024
Purchases during the financial year
-121,478.6
-110,428.9
External services
-3,865.6
-2,219.9
Change in inventories
1,755.9
5,570.2
Total
-123,588.3
-107,078.6
2.4 EMPLOYEE BENEFITS
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.
EUR 1,000
2025
2024
Wages and salaries
-60,189.7
-57,445.3
Pension expenses - defined contribution plans
-7,967.0
-7,702.7
Share-based employee benefits
-2,390.2
-2,295.5
Other social security expenses
-4,928.4
-4,353.5
Total
-75,475.3
-71,797.0
2025
2024
Number of personnel at the end of the period
825
786
Average number of personnel
813
840
2.5 OTHER OPERATING EXPENSES
EUR 1,000
2025
2024
Sales and marketing expenses
-6,597.7
-8,008.6
Credit loss allowances
2,022.1
-2,296.5
Administration expenses
-10,587.2
-10,606.3
IT expenses
-8,662.4
-11,363.8
Premises and vehicle expenses
-4,822.7
-4,640.3
Machinery and tool expenses
-1,426.7
-2,080.8
Research and development expenses
-5,339.1
-6,498.2
Warranty expenses
-18,029.3
-17,511.8
Other personnel expenses
-2,699.8
-2,916.7
Total
-56,142.8
-65,923.0
Auditor\u2019s fee
EUR 1,000
2025
2024
Ernst & Young Oy
Audit fee
-296.2
-411.4
Sustainability Statement assurance fee
-158.8
-138.8
Tax advisory
-59.7
-24.6
Other fees
-39.5
-51.0
Total
-554.1
-625.8
2.6 DEPRECIATION, AMORTIZATION AND IMPAIRMENT
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
EUR 1,000
2025
2024
Intangible assets
Amortizations
-804.7
-831.0
Property, plant and equipment
Depreciations
-5,598.0
-3,328.7
Right-of-use assets
Depreciations
-7,357.3
-6,622.6
Total
-13,760.0
-10,782.2
2.7 FINANCE INCOME AND EXPENSE
EUR 1,000
2025
2024
Finance income
Change in fair value of other financial assets
1,805.1
1,131.4
Unrealized foreign exchange gain
546.6
1,153.8
Realized foreign exchange gain
1,503.3
425.7
Interest income
388.5
397.2
Other finance income
3.3
1,612.3
Total
4,246.7
4,720.5
Finance expenses
Unrealized foreign exchange loss
-1,725.7
-792.6
Realized foreign exchange loss
-722.4
-1,306.2
Interest expenses
-2,226.2
-1,976.8
Other finance expenses
-300.2
-88.1
Total
-4,974.4
-4,163.6
Total finance income and expenses
-727.7
556.8
Amounts recognized in the statement of
comprehensive income
EUR 1,000
2025
2024
Depreciation of right-of-use assets
Buildings
-4,920.9
-4,400.3
Machinery and equipment
-2,436.4
-2,222.2
Total
-7,357.3
-6,622.6
Interest expense (included in finance cost)
-1,254.8
-1,330.7
Expense relating to leases of short-term and low
value (included in other operating expenses)
-440.7
-529.5
Total cash flow from leases
-8,733.7
-7,989.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-280": { "value": "
Accounting principles
Materials and services include the direct business expenses related to purchases
of raw materials needed in production, external services, and the change in
inventory.
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-281": { "value": "
EUR 1,000
2025
2024
Purchases during the financial year
-121,478.6
-110,428.9
External services
-3,865.6
-2,219.9
Change in inventories
1,755.9
5,570.2
Total
-123,588.3
-107,078.6
3.4 INVENTORIES
Accounting principles
Inventories consist of finished charging devices, charging components needed in
the manufacture of products, charger spare parts as well as unfinished products.
Inventories are measured at weighted average cost.
If the value of inventories falls below the above, inventories are measured at net
realizable value. The acquisition cost of inventories consists of all purchase costs,
production and logistics costs, handling costs and other costs directly attributable
to inventories. The acquisition cost of purchased inventories is deducted by
quantity discounts and cash discounts. The net realization value is the estimated
sales price obtained in ordinary business less direct sales costs.
Critical accounting judgements:
The Group regularly reviews inventories for obsolescence and turnover, and for
possible reduction of net realizable value below cost and records a write-down as
necessary. Such reviews require assessments and changes in the assessments
may cause changes in inventory measurement in future periods.
EUR 1,000
31 Dec 2025
31 Dec 2024
Raw materials and consumables
38,395.3
37,258.6
Work in progress
1,413.6
1,422.4
Finished products
18,645.8
18,815.0
Total
58,454.8
57,496.0
Inventory write-downs recognised as an expense amounted to EUR 1,190.4
(2,302.0) thousand.", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-282": { "value": "
2.4 EMPLOYEE BENEFITS
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.
EUR 1,000
2025
2024
Wages and salaries
-60,189.7
-57,445.3
Pension expenses - defined contribution plans
-7,967.0
-7,702.7
Share-based employee benefits
-2,390.2
-2,295.5
Other social security expenses
-4,928.4
-4,353.5
Total
-75,475.3
-71,797.0
2025
2024
Number of personnel at the end of the period
825
786
Average number of personnel
813
840
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-283": { "value": "
Accounting principles
Employee benefits consist of payments based either on the performance of work
or termination of employment. The Kempower Group pays fixed contributions to a
separate unit, and the Group has no legal or factual obligation to make
supplementary contributions, should the recipient of the contributions fail to pay
out the pension benefits in question. Contributions paid to such defined-
contribution plans are recognized through profit or loss for the financial period
during which they are charged. Kempower\u2019s pension plans are all defined-
contribution plans, including the employer\u2019s pension insurance (TyEL insurance)
applied in Finland that is based on fixed contributions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-284": { "value": "
2025
2024
Number of personnel at the end of the period
825
786
Average number of personnel
813
840
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-285": { "value": "
2.5 OTHER OPERATING EXPENSES
EUR 1,000
2025
2024
Sales and marketing expenses
-6,597.7
-8,008.6
Credit loss allowances
2,022.1
-2,296.5
Administration expenses
-10,587.2
-10,606.3
IT expenses
-8,662.4
-11,363.8
Premises and vehicle expenses
-4,822.7
-4,640.3
Machinery and tool expenses
-1,426.7
-2,080.8
Research and development expenses
-5,339.1
-6,498.2
Warranty expenses
-18,029.3
-17,511.8
Other personnel expenses
-2,699.8
-2,916.7
Total
-56,142.8
-65,923.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-286": { "value": "
Auditor\u2019s fee
EUR 1,000
2025
2024
Ernst & Young Oy
Audit fee
-296.2
-411.4
Sustainability Statement assurance fee
-158.8
-138.8
Tax advisory
-59.7
-24.6
Other fees
-39.5
-51.0
Total
-554.1
-625.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-287": { "value": "
2.6 DEPRECIATION, AMORTIZATION AND IMPAIRMENT
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
EUR 1,000
2025
2024
Intangible assets
Amortizations
-804.7
-831.0
Property, plant and equipment
Depreciations
-5,598.0
-3,328.7
Right-of-use assets
Depreciations
-7,357.3
-6,622.6
Total
-13,760.0
-10,782.2
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
Property, plant and equipment have the following estimated useful economic lives
and depreciation periods:
\u2022 Machinery and equipment 3\u20138 years
\u2022 Improvement costs pertaining to leased premises 5 years or the remaining
term of the lease, whichever is shorter
The depreciation will begin when the asset item is ready for use, i.e., when its
location and condition are such that it operates as intended by the Group\u2019s
management.
The leases are recognized in the balance sheet as right-of-use asset items and
corresponding lease liabilities beginning from the day when the leased asset item
is at the Group\u2019s disposal. Lease payments are recognized as amortization of the
lease liability and the related interest expense. Right-of-use asset items are
depreciated over the useful economic life of the asset item or according to the
lease term.
Amounts recognized in the statement of
comprehensive income
EUR 1,000
2025
2024
Depreciation of right-of-use assets
Buildings
-4,920.9
-4,400.3
Machinery and equipment
-2,436.4
-2,222.2
Total
-7,357.3
-6,622.6
Interest expense (included in finance cost)
-1,254.8
-1,330.7
Expense relating to leases of short-term and low
value (included in other operating expenses)
-440.7
-529.5
Total cash flow from leases
-8,733.7
-7,989.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-288": { "value": "
Accounting principles
Depreciation on fixed assets is defined according to the useful economic life of
the assets. Straight line depreciation is used on all fixed assets. The depreciations
commence when the asset item is available for use. The useful economic lives
and residual values of asset items are presented in note 3.1 Intangible assets, 3.2
Property, plant and equipment and 3.3 Leases.
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
Property, plant and equipment have the following estimated useful economic lives
and depreciation periods:
\u2022 Machinery and equipment 3\u20138 years
\u2022 Improvement costs pertaining to leased premises 5 years or the remaining
term of the lease, whichever is shorter
The depreciation will begin when the asset item is ready for use, i.e., when its
location and condition are such that it operates as intended by the Group\u2019s
management.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-290": { "value": "
2.7 FINANCE INCOME AND EXPENSE
EUR 1,000
2025
2024
Finance income
Change in fair value of other financial assets
1,805.1
1,131.4
Unrealized foreign exchange gain
546.6
1,153.8
Realized foreign exchange gain
1,503.3
425.7
Interest income
388.5
397.2
Other finance income
3.3
1,612.3
Total
4,246.7
4,720.5
Finance expenses
Unrealized foreign exchange loss
-1,725.7
-792.6
Realized foreign exchange loss
-722.4
-1,306.2
Interest expenses
-2,226.2
-1,976.8
Other finance expenses
-300.2
-88.1
Total
-4,974.4
-4,163.6
Total finance income and expenses
-727.7
556.8
Foreign exchange risk
Translation risks
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-773.2
3,271.8
2,207.1
2,306.7
573.1
808.4
73.7
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-818.1
2,551.8
1,839.9
1,442.5
377.6
593.7
The following table shows how a 10% weakening or strengthening of the functional currencies of the Group
companies against the euro would affect the Group\u2019s equity.
Sensitivity analysis, impact on equity as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
70.3
-297.4
-200.6
-209.7
-52.1
-73.5
-6.7
Strengthening 10%
-85.9
363.5
245.2
256.3
63.7
89.8
8.2
Sensitivity analysis, impact on equity as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
74.4
-232.0
-167.3
-131.1
-34.3
-54.0
Strengthening 10%
-90.9
283.5
204.4
160.3
42.0
66.0
Transaction risks
International sales and purchasing activities and foreign currency denominated financing to subsidiaries expose
the Group to transaction risks. The currency specific transaction risk exposure comprises foreign currency
denominated receivables and liabilities in the balance sheet and foreign subsidiaries' receivables and liabilities with
respect to the parent company.
The Group\u2019s transaction risk as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
10,120.6
-133.7
-379.3
-1,258.1
1,592.7
8,444.4
-912.7
Hedging derivatives
-11,416.8
-561.1
-591.1
10.0
-1,655.5
-8,185.1
471.0
Open exposure
-1,296.2
-694.8
-970.4
-1,248.1
-62.8
259.3
-441.8
The Group\u2019s transaction risk as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
12,630.1
18.3
-885.2
-1,750.3
707.3
-91.7
-631.9
Hedging derivatives
-14,727.1
200.0
620.6
1,077.8
-1,248.5
275.2
379.8
Open exposure
-2,097.0
218.3
-264.6
-672.6
-541.2
183.5
-252.1
The following table shows how a 10% weakening or strengthening of the foreign currencies against the euro would
affect the Group\u2019s pre-tax profit/loss through the foreign currency transaction position.
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
117.8
63.2
88.2
113.5
5.7
-23.6
40.2
Strengthening 10%
-144.0
-77.2
-107.8
-138.7
-7.0
28.8
-49.1
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
190.6
-19.8
24.1
61.1
49.2
-16.7
22.9
Strengthening 10%
-233.0
24.3
-29.4
-74.7
-60.1
20.4
-28.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-289": { "value": "
2.7 FINANCE INCOME AND EXPENSE
EUR 1,000
2025
2024
Finance income
Change in fair value of other financial assets
1,805.1
1,131.4
Unrealized foreign exchange gain
546.6
1,153.8
Realized foreign exchange gain
1,503.3
425.7
Interest income
388.5
397.2
Other finance income
3.3
1,612.3
Total
4,246.7
4,720.5
Finance expenses
Unrealized foreign exchange loss
-1,725.7
-792.6
Realized foreign exchange loss
-722.4
-1,306.2
Interest expenses
-2,226.2
-1,976.8
Other finance expenses
-300.2
-88.1
Total
-4,974.4
-4,163.6
Total finance income and expenses
-727.7
556.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-292": { "value": "
2.8 INCOME TAXES
Accounting principles
The Group recognizes as tax expenses the taxes calculated on the Group
companies\u2019 financial results for the period, tax adjustments for previous years and
changes in deferred tax liabilities and deferred tax assets. The tax incidence that is
related to items recognized directly in equity is correspondingly recognized in
equity.
Deferred taxes are recognized based on the temporary differences between
carrying amount and taxable value, applying either the tax rate as valid on the
closing date or an established tax rate to be effective later. Deferred tax assets
are recognized up to the extent of probable future taxable profit, against which
the temporary difference can be utilized. The most substantial temporary
differences arise from losses carried forward, warranty provisions and the
expected credit loss allowance and accelerated depreciation. Whether the
conditions for recognizing deferred tax assets are met is reassessed at the end of
each financial period.
Tax-deductible losses are recognized as tax assets to the extent that the
Company can probably utilize them in the future.
Deferred tax assets and liabilities are offset for presentation purposes when there
is a legally enforceable right to offset income tax receivables against income tax
payables, and when the deferred tax assets and liabilities relate to income taxes
levied by the same taxation authority.
Critical accounting judgements:
A deferred tax asset is recognized when it is probable that future taxable profit will
be available, against which the deferred tax asset exceeding the deferred tax
liability can be utilized. The Group\u2019s management exercises judgement in deciding
whether to recognize deferred tax assets on unutilized confirmed losses. The
assessment of future taxable cash flows is based on the Kempower Group\u2019s
strategy, forecasts, and evaluation of related uncertainties. The Group\u2019s
management monitors the Group\u2019s financial status and evaluates its future
development at each reporting date. Deferred tax assets are recognized to the
extent that it is probable that future taxable profit will be available, against which
the deferred tax assets can be utilized.
Taxes in the income statement
EUR 1,000
2025
2024
Income tax
Income tax on taxable profit for the year
-1,990.4
-1,303.3
Change in deferred taxes
4,704.7
6,256.3
Tax for previous accounting periods
-109.2
71.7
Total
2,605.0
5,024.8
Reconciliation of profit/loss before taxes with total income
taxes in the income statement
EUR 1,000
2025
2024
Profit/loss before tax
-14,998.4
-28,242.8
Income tax calculated at Finnish tax rate 20%
2,999.7
5,648.6
Non-deductible expenses and tax-exempt income
-56.6
-506.9
Effect of different tax rates
-209.3
-191.8
Tax for previous accounting periods
-109.2
71.7
Other differences
-19.5
3.2
Taxes in the statement of comprehensive income
2,605.0
5,024.8
Confirmed tax losses
EUR 1,000
2025
2024
Expire later than in five years
41,797.8
33,836.8
Total
41,797.8
33,836.8
Deferred tax receivables and liabilities 2025
EUR 1,000
1 Jan 2025
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2025
Deferred tax receivables
Tax losses
6,767.4
1,592.2
8,359.6
Provisions
2,940.4
-197.5
2,742.9
Leases
6,054.5
-964.3
-130.3
4,960.0
Trade receivables
580.5
-510.4
-4.4
65.8
Internal margins
270.4
-200.1
-23.3
47.0
Research and development expenses
2,760.9
2,760.9
Other timing differences
434.0
182.6
-27.9
588.7
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
9,121.6
2,663.4
-185.8
2,134.9
13,734.1
Deferred tax liabilities
Accelerated depreciation
696.7
-594.2
102.5
Capitalized development expenses
622.1
-622.1
Leases
5,792.5
-1,035.6
-112.3
4,644.5
Inventories
302.0
29.0
330.9
Other timing differences
551.9
181.7
-3.2
730.3
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
39.5
-2,041.3
-115.6
2,134.9
17.6
Net amount
9,082.1
4,704.7
-70.2
13,716.6
Deferred tax receivables and liabilities 2024
EUR 1,000
1 Jan 2024
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2024
Deferred tax receivables
Tax losses
6,767.4
6,767.4
Provisions
2,835.4
105.0
2,940.4
Leases
5,124.5
858.1
71.9
6,054.5
Trade receivables
565.7
14.8
580.5
Internal margins
226.5
28.6
15.3
270.4
Other timing differences
82.9
348.0
3.1
434.0
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
2,828.3
8,121.9
90.4
-1,919.0
9,121.6
Deferred tax liabilities
Accelerated depreciation
696.7
696.7
Capitalized development expenses
58.4
563.7
622.1
Leases
4,975.0
754.0
63.4
5,792.5
Inventories
276.5
25.5
302.0
Other timing differences
27.4
522.3
2.2
551.9
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
27.4
1,865.5
65.6
-1,919.0
39.5
Net amount
2,800.9
6,256.3
24.8
9,082.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-291": { "value": "
2.8 INCOME TAXES
Accounting principles
The Group recognizes as tax expenses the taxes calculated on the Group
companies\u2019 financial results for the period, tax adjustments for previous years and
changes in deferred tax liabilities and deferred tax assets. The tax incidence that is
related to items recognized directly in equity is correspondingly recognized in
equity.
Deferred taxes are recognized based on the temporary differences between
carrying amount and taxable value, applying either the tax rate as valid on the
closing date or an established tax rate to be effective later. Deferred tax assets
are recognized up to the extent of probable future taxable profit, against which
the temporary difference can be utilized. The most substantial temporary
differences arise from losses carried forward, warranty provisions and the
expected credit loss allowance and accelerated depreciation. Whether the
conditions for recognizing deferred tax assets are met is reassessed at the end of
each financial period.
Tax-deductible losses are recognized as tax assets to the extent that the
Company can probably utilize them in the future.
Deferred tax assets and liabilities are offset for presentation purposes when there
is a legally enforceable right to offset income tax receivables against income tax
payables, and when the deferred tax assets and liabilities relate to income taxes
levied by the same taxation authority.
Critical accounting judgements:
A deferred tax asset is recognized when it is probable that future taxable profit will
be available, against which the deferred tax asset exceeding the deferred tax
liability can be utilized. The Group\u2019s management exercises judgement in deciding
whether to recognize deferred tax assets on unutilized confirmed losses. The
assessment of future taxable cash flows is based on the Kempower Group\u2019s
strategy, forecasts, and evaluation of related uncertainties. The Group\u2019s
management monitors the Group\u2019s financial status and evaluates its future
development at each reporting date. Deferred tax assets are recognized to the
extent that it is probable that future taxable profit will be available, against which
the deferred tax assets can be utilized.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-293": { "value": "
Deferred taxes are recognized based on the temporary differences between
carrying amount and taxable value, applying either the tax rate as valid on the
closing date or an established tax rate to be effective later. Deferred tax assets
are recognized up to the extent of probable future taxable profit, against which
the temporary difference can be utilized. The most substantial temporary
differences arise from losses carried forward, warranty provisions and the
expected credit loss allowance and accelerated depreciation. Whether the
conditions for recognizing deferred tax assets are met is reassessed at the end of
each financial period.
Tax-deductible losses are recognized as tax assets to the extent that the
Company can probably utilize them in the future.
Deferred tax assets and liabilities are offset for presentation purposes when there
is a legally enforceable right to offset income tax receivables against income tax
payables, and when the deferred tax assets and liabilities relate to income taxes
levied by the same taxation authority.
Critical accounting judgements:
A deferred tax asset is recognized when it is probable that future taxable profit will
be available, against which the deferred tax asset exceeding the deferred tax
liability can be utilized. The Group\u2019s management exercises judgement in deciding
whether to recognize deferred tax assets on unutilized confirmed losses. The
assessment of future taxable cash flows is based on the Kempower Group\u2019s
strategy, forecasts, and evaluation of related uncertainties. The Group\u2019s
management monitors the Group\u2019s financial status and evaluates its future
development at each reporting date. Deferred tax assets are recognized to the
extent that it is probable that future taxable profit will be available, against which
the deferred tax assets can be utilized.
Deferred tax receivables and liabilities 2025
EUR 1,000
1 Jan 2025
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2025
Deferred tax receivables
Tax losses
6,767.4
1,592.2
8,359.6
Provisions
2,940.4
-197.5
2,742.9
Leases
6,054.5
-964.3
-130.3
4,960.0
Trade receivables
580.5
-510.4
-4.4
65.8
Internal margins
270.4
-200.1
-23.3
47.0
Research and development expenses
2,760.9
2,760.9
Other timing differences
434.0
182.6
-27.9
588.7
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
9,121.6
2,663.4
-185.8
2,134.9
13,734.1
Deferred tax liabilities
Accelerated depreciation
696.7
-594.2
102.5
Capitalized development expenses
622.1
-622.1
Leases
5,792.5
-1,035.6
-112.3
4,644.5
Inventories
302.0
29.0
330.9
Other timing differences
551.9
181.7
-3.2
730.3
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
39.5
-2,041.3
-115.6
2,134.9
17.6
Net amount
9,082.1
4,704.7
-70.2
13,716.6
Deferred tax receivables and liabilities 2024
EUR 1,000
1 Jan 2024
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2024
Deferred tax receivables
Tax losses
6,767.4
6,767.4
Provisions
2,835.4
105.0
2,940.4
Leases
5,124.5
858.1
71.9
6,054.5
Trade receivables
565.7
14.8
580.5
Internal margins
226.5
28.6
15.3
270.4
Other timing differences
82.9
348.0
3.1
434.0
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
2,828.3
8,121.9
90.4
-1,919.0
9,121.6
Deferred tax liabilities
Accelerated depreciation
696.7
696.7
Capitalized development expenses
58.4
563.7
622.1
Leases
4,975.0
754.0
63.4
5,792.5
Inventories
276.5
25.5
302.0
Other timing differences
27.4
522.3
2.2
551.9
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
27.4
1,865.5
65.6
-1,919.0
39.5
Net amount
2,800.9
6,256.3
24.8
9,082.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-294": { "value": "
Tax-deductible losses are recognized as tax assets to the extent that the
Company can probably utilize them in the future.
Deferred tax assets and liabilities are offset for presentation purposes when there
is a legally enforceable right to offset income tax receivables against income tax
payables, and when the deferred tax assets and liabilities relate to income taxes
levied by the same taxation authority.
Critical accounting judgements:
A deferred tax asset is recognized when it is probable that future taxable profit will
be available, against which the deferred tax asset exceeding the deferred tax
liability can be utilized. The Group\u2019s management exercises judgement in deciding
whether to recognize deferred tax assets on unutilized confirmed losses. The
assessment of future taxable cash flows is based on the Kempower Group\u2019s
strategy, forecasts, and evaluation of related uncertainties. The Group\u2019s
management monitors the Group\u2019s financial status and evaluates its future
development at each reporting date. Deferred tax assets are recognized to the
extent that it is probable that future taxable profit will be available, against which
the deferred tax assets can be utilized.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-295": { "value": "
Deferred tax receivables and liabilities 2025
EUR 1,000
1 Jan 2025
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2025
Deferred tax receivables
Tax losses
6,767.4
1,592.2
8,359.6
Provisions
2,940.4
-197.5
2,742.9
Leases
6,054.5
-964.3
-130.3
4,960.0
Trade receivables
580.5
-510.4
-4.4
65.8
Internal margins
270.4
-200.1
-23.3
47.0
Research and development expenses
2,760.9
2,760.9
Other timing differences
434.0
182.6
-27.9
588.7
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
9,121.6
2,663.4
-185.8
2,134.9
13,734.1
Deferred tax liabilities
Accelerated depreciation
696.7
-594.2
102.5
Capitalized development expenses
622.1
-622.1
Leases
5,792.5
-1,035.6
-112.3
4,644.5
Inventories
302.0
29.0
330.9
Other timing differences
551.9
181.7
-3.2
730.3
Netting deferred tax receivables and liabilities
-7,925.6
2,134.9
-5,790.7
Total
39.5
-2,041.3
-115.6
2,134.9
17.6
Net amount
9,082.1
4,704.7
-70.2
13,716.6
Deferred tax receivables and liabilities 2024
EUR 1,000
1 Jan 2024
Recognized in the
statement of income
Exchange differences
Other changes
31 Dec 2024
Deferred tax receivables
Tax losses
6,767.4
6,767.4
Provisions
2,835.4
105.0
2,940.4
Leases
5,124.5
858.1
71.9
6,054.5
Trade receivables
565.7
14.8
580.5
Internal margins
226.5
28.6
15.3
270.4
Other timing differences
82.9
348.0
3.1
434.0
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
2,828.3
8,121.9
90.4
-1,919.0
9,121.6
Deferred tax liabilities
Accelerated depreciation
696.7
696.7
Capitalized development expenses
58.4
563.7
622.1
Leases
4,975.0
754.0
63.4
5,792.5
Inventories
276.5
25.5
302.0
Other timing differences
27.4
522.3
2.2
551.9
Netting deferred tax receivables and liabilities
-6,006.6
-1,919.0
-7,925.6
Total
27.4
1,865.5
65.6
-1,919.0
39.5
Net amount
2,800.9
6,256.3
24.8
9,082.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-296": { "value": "
2.9 EARNINGS PER SHARE, EPS
Accounting principles
Basic earnings per share are calculated by dividing the profit/loss for the financial
year attributable to equity holders of the parent company by the weighted
average number of externally owned shares during the financial year. The
weighted average number of shares is adjusted with the amount of treasury
shares. The diluting effect of the share-based incentive plans is taken into
account in the diluted earnings per share.
EUR 1,000
2025
2024
Profit/loss for the year
-12,393.4
-23,218.0
Average number of shares (1,000 pcs)
Undiluted
55,354
55,275
Dilutive effect of share plans
110
149
Diluted
55,464
55,424
Earnings per share (EUR)
Undiluted
-0.22
-0.42
Diluted
-0.22
-0.42
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-297": { "value": "
Accounting principles
Basic earnings per share are calculated by dividing the profit/loss for the financial
year attributable to equity holders of the parent company by the weighted
average number of externally owned shares during the financial year. The
weighted average number of shares is adjusted with the amount of treasury
shares. The diluting effect of the share-based incentive plans is taken into
account in the diluted earnings per share.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-299": { "value": "
3.1 INTANGIBLE ASSETS
Accounting principles
The Kempower Group\u2019s intangible assets comprise capitalized product
development costs, intangible rights consisting of patents and trademarks and
other intangible assets such as software licenses. An intangible asset is measured
at cost, when it is probable that the intangible asset will produce financial benefit
in the future and its acquisition cost can be reliably determined. Intangible assets
have a limited useful economic life. Straight-line amortizations are recognized as
cost in the income statement during the estimated useful economic life.
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
The determination of useful economic lives of intangible assets is reassessed at
the end of each reporting period, and if the expected useful economic lives differ
from those previously determined, the difference is recognized as a change in
accounting estimates. Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
The profit or loss created from de-recognition of an intangible asset is determined
as the difference between the disposal price and the carrying value of the asset
and is recognized in the profit and loss statement either as other operating
income or other operating expense.
Critical accounting judgements:
Development expenses that meet the capitalization criteria will be recognized in
the balance sheet. The management uses judgement in determining whether the
Group has adequate technological and financial resources to successfully
complete the development work and whether the development project will
generate future cash flows in excess of the book value of the capitalized
development project. For such capitalized development expenses for which
amortization has not yet started, Kempower Group\u2019s management assesses at
the end of each reporting period whether the book values of capitalized
development expenses\u00a0 exceed the discounted net cash flows that the assets are
expected to produce. The expected future cash flows are based on uncertain
financial estimates.
EUR 1,000
Intangible
rights
Capitalized
development
costs
Other intangible
assets
Prepayments
and work in
progress
Total
31 Dec 2025
Carrying amount at 1 Jan 2025
429.7
1,206.2
533.6
2,079.1
4,248.6
Additions
4,278.3
4,278.3
Reclassifications
50.0
1,031.4
-1,081.4
Amortizations and impairment
-108.1
-465.5
-228.5
-802.2
Carrying amount at 31 Dec 2025
371.6
1,767.7
305.0
5,266.6
7,710.9
31 Dec 2025
Cost
776.5
3,321.8
1,814.5
5,276.0
11,188.8
Accumulated amortizations and
impairment
-404.9
-1,549.7
-1,509.5
-3,464.1
Translation differences
-4.4
-9.4
-13.8
Carrying amount at 31 Dec 2025
371.6
1,767.7
305.0
5,266.6
7,710.9
Prepayments and work in progress at 31\u00a0Dec 2025 include EUR 4,923.5 (1,904.3) thousand capitalized development costs.
EUR 1,000
Intangible
rights
Capitalized
development
costs
Other intangible
assets
Prepayments
and work in
progress
Total
31 Dec 2024
Carrying amount at 1 Jan 2024
512.3
292.0
1,002.9
1,807.2
Additions
20.0
3,250.4
3,270.4
Reclassifications
1,171.3
-1,171.3
Amortizations and impairment
-102.6
-257.0
-469.3
-828.9
Carrying amount at 31 Dec 2024
429.7
1,206.2
533.6
2,079.1
4,248.6
31 Dec 2024
Cost
726.5
2,290.5
1,814.5
2,079.1
6,910.5
Accumulated amortizations and
impairment
-296.8
-1,084.2
-1,280.9
-2,662.0
Carrying amount at 31 Dec 2024
429.7
1,206.2
533.6
2,079.1
4,248.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-298": { "value": "
3.1 INTANGIBLE ASSETS
Accounting principles
The Kempower Group\u2019s intangible assets comprise capitalized product
development costs, intangible rights consisting of patents and trademarks and
other intangible assets such as software licenses. An intangible asset is measured
at cost, when it is probable that the intangible asset will produce financial benefit
in the future and its acquisition cost can be reliably determined. Intangible assets
have a limited useful economic life. Straight-line amortizations are recognized as
cost in the income statement during the estimated useful economic life.
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
The determination of useful economic lives of intangible assets is reassessed at
the end of each reporting period, and if the expected useful economic lives differ
from those previously determined, the difference is recognized as a change in
accounting estimates. Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
The profit or loss created from de-recognition of an intangible asset is determined
as the difference between the disposal price and the carrying value of the asset
and is recognized in the profit and loss statement either as other operating
income or other operating expense.
Critical accounting judgements:
Development expenses that meet the capitalization criteria will be recognized in
the balance sheet. The management uses judgement in determining whether the
Group has adequate technological and financial resources to successfully
complete the development work and whether the development project will
generate future cash flows in excess of the book value of the capitalized
development project. For such capitalized development expenses for which
amortization has not yet started, Kempower Group\u2019s management assesses at
the end of each reporting period whether the book values of capitalized
development expenses\u00a0 exceed the discounted net cash flows that the assets are
expected to produce. The expected future cash flows are based on uncertain
financial estimates.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-300": { "value": "
Accounting principles
The Kempower Group\u2019s intangible assets comprise capitalized product
development costs, intangible rights consisting of patents and trademarks and
other intangible assets such as software licenses. An intangible asset is measured
at cost, when it is probable that the intangible asset will produce financial benefit
in the future and its acquisition cost can be reliably determined. Intangible assets
have a limited useful economic life. Straight-line amortizations are recognized as
cost in the income statement during the estimated useful economic life.
The intangible assets have the following estimated useful economic lives and
amortization periods:
\u2022 Patents and trademarks 10 years
\u2022 Product development costs 5 years
\u2022 Other intangible assets 5 years
The determination of useful economic lives of intangible assets is reassessed at
the end of each reporting period, and if the expected useful economic lives differ
from those previously determined, the difference is recognized as a change in
accounting estimates. Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
The profit or loss created from de-recognition of an intangible asset is determined
as the difference between the disposal price and the carrying value of the asset
and is recognized in the profit and loss statement either as other operating
income or other operating expense.
Critical accounting judgements:
Development expenses that meet the capitalization criteria will be recognized in
the balance sheet. The management uses judgement in determining whether the
Group has adequate technological and financial resources to successfully
complete the development work and whether the development project will
generate future cash flows in excess of the book value of the capitalized
development project. For such capitalized development expenses for which
amortization has not yet started, Kempower Group\u2019s management assesses at
the end of each reporting period whether the book values of capitalized
development expenses\u00a0 exceed the discounted net cash flows that the assets are
expected to produce. The expected future cash flows are based on uncertain
financial estimates.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-301": { "value": "
The determination of useful economic lives of intangible assets is reassessed at
the end of each reporting period, and if the expected useful economic lives differ
from those previously determined, the difference is recognized as a change in
accounting estimates. Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
Property, plant and equipment are reviewed for amortization whenever there are
indications that their value may have reduced. An impairment loss is recognized
for an amount by which the asset\u2019s book value exceeds the recoverable amount.
The recoverable amount is the asset\u2019s fair value less sales cost or value in use,
whichever is higher. The value in use represents the discounted net cash flows
that the asset is expected to produce.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-303": { "value": "Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-302": { "value": "Intangible assets are reviewed for amortization whenever
there are indications that their value may have reduced. An impairment loss is
recognized for an amount by which the asset\u2019s book value exceeds the
recoverable amount. The recoverable amount is the asset\u2019s fair value less sales
cost or value in use, whichever is higher. The value in use represents the
discounted net cash flows that the asset is expected to produce.
Product development costs are capitalized in the balance sheet in intangible
assets, when product development costs will probably generate future financial
benefit, product completion is technologically feasible, product is usable or
saleable, the costs to be capitalized can be reliably determined and the Group
has adequate technological and financial resources to successfully complete the
development work.
Property, plant and equipment are reviewed for amortization whenever there are
indications that their value may have reduced. An impairment loss is recognized
for an amount by which the asset\u2019s book value exceeds the recoverable amount.
The recoverable amount is the asset\u2019s fair value less sales cost or value in use,
whichever is higher. The value in use represents the discounted net cash flows
that the asset is expected to produce.
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-304": { "value": "
3.2 PROPERTY, PLANT AND EQUIPMENT
Accounting principles
The Kempower Group\u2019s property, plant and equipment consists of machinery and
equipment together with improvement costs pertaining to leased premises.
Property, plant and equipment are measured at cost less depreciation and any
impairment losses. The acquisition cost includes any direct costs arising from the
acquisition that are necessary considering the asset item\u2019s location and
production for it to operate as planned by the management. Ordinary
maintenance and repair costs are recognized as expenses on an accrual basis.
Property, plant and equipment have the following estimated useful economic lives
and depreciation periods:
\u2022 Machinery and equipment 3\u20138 years
\u2022 Improvement costs pertaining to leased premises 5 years or the remaining
term of the lease, whichever is shorter
The depreciation will begin when the asset item is ready for use, i.e., when its
location and condition are such that it operates as intended by the Group\u2019s
management.
Property, plant and equipment are reviewed for amortization whenever there are
indications that their value may have reduced. An impairment loss is recognized
for an amount by which the asset\u2019s book value exceeds the recoverable amount.
The recoverable amount is the asset\u2019s fair value less sales cost or value in use,
whichever is higher. The value in use represents the discounted net cash flows
that the asset is expected to produce.
EUR 1,000
Machinery and
equipment
Other tangible
assets
Prepayments
and work in
progress
Total
31 Dec 2025
Carrying amount at 1 Jan 2025
15,102.6
9,404.7
1,498.5
26,005.7
Additions
147.1
626.8
3,197.5
3,971.4
Disposals
-152.9
-4.4
-157.3
Reclassifications
2,355.0
1,214.4
-3,569.4
Depreciations and impairment
-3,160.0
-2,451.0
-5,611.1
Translation differences
-57.1
-544.5
-0.1
-601.7
Carrying amount at 31 Dec 2025
14,387.5
8,097.4
1,122.1
23,607.0
31 Dec 2025
Cost
21,271.3
12,742.3
1,122.2
35,135.9
Accumulated depreciations and impairment
-6,826.7
-4,100.4
-10,927.2
Translation differences
-57.1
-544.5
-0.1
-601.7
Carrying amount at 31 Dec 2025
14,387.5
8,097.4
1,122.1
23,607.0
31 Dec 2024
Carrying amount at 1 Jan 2024
7,991.9
3,769.1
1,925.5
13,686.6
Additions
354.8
2,570.3
12,563.4
15,488.5
Disposals
-8.7
-35.6
-90.4
-134.7
Reclassifications
8,656.5
4,243.4
-12,900.0
Depreciations and impairment
-1,917.5
-1,413.3
-3,330.8
Translation differences
25.4
270.8
296.2
Carrying amount at 31 Dec 2024
15,102.6
9,404.7
1,498.5
26,005.7
31 Dec 2024
Cost
18,739.7
10,750.6
1,498.5
30,988.8
Accumulated depreciations and impairment
-3,662.6
-1,616.7
-5,279.3
Translation differences
25.4
270.8
296.2
Carrying amount at 31 Dec 2024
15,102.6
9,404.7
1,498.5
26,005.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-305": { "value": "
Accounting principles
The Kempower Group\u2019s property, plant and equipment consists of machinery and
equipment together with improvement costs pertaining to leased premises.
Property, plant and equipment are measured at cost less depreciation and any
impairment losses. The acquisition cost includes any direct costs arising from the
acquisition that are necessary considering the asset item\u2019s location and
production for it to operate as planned by the management. Ordinary
maintenance and repair costs are recognized as expenses on an accrual basis.
Property, plant and equipment have the following estimated useful economic lives
and depreciation periods:
\u2022 Machinery and equipment 3\u20138 years
\u2022 Improvement costs pertaining to leased premises 5 years or the remaining
term of the lease, whichever is shorter
The depreciation will begin when the asset item is ready for use, i.e., when its
location and condition are such that it operates as intended by the Group\u2019s
management.
Property, plant and equipment are reviewed for amortization whenever there are
indications that their value may have reduced. An impairment loss is recognized
for an amount by which the asset\u2019s book value exceeds the recoverable amount.
The recoverable amount is the asset\u2019s fair value less sales cost or value in use,
whichever is higher. The value in use represents the discounted net cash flows
that the asset is expected to produce.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-306": { "value": "
3.3 LEASES
Accounting principles
Kempower\u2019s right-of-use assets include premises and vehicles leased by the
Group. The lease agreements are mainly fixed term agreements for 1\u201310 years.
The leases are recognized in the balance sheet as right-of-use asset items and
corresponding lease liabilities beginning from the day when the leased asset item
is at the Group\u2019s disposal. Lease payments are recognized as amortization of the
lease liability and the related interest expense. Right-of-use asset items are
depreciated over the useful economic life of the asset item or according to the
lease term.
The right-of-use asset items capitalized based on leases and the corresponding
lease liability are measured upon the commencement of the lease at the current
value of those minimum lease payments that remain outstanding on that day.
Considered in the calculation are the minimum lease payments at their
discounted value as well as the lease payments for optional additional lease
terms, if it is fairly certain that an option for such an additional lease term will be
exercised.
The Group applies the incremental borrowing rate as the discount rate for lease
payments. The lease payments for the premises are tied to the inflation index. The
index-based variable lease payments are part of the liability that is related to the
lease, and their value is calculated based on the index at the beginning of the
lease term. Index changes are considered for the accounting period during which
the index changes. The cash flows related to leases are reported as amortization
of lease liabilities in the cash flow statement under cash flow from financing
activities, and the interests paid on lease liabilities are reported under cash flow
from operating activities. The Group holds short-term leases, the lease term of
which is 12 months or less, as well as leases where the asset item in question is low
in value. These leases are recognized during the lease term as an expense in the
income statement.
Sale and leaseback
In sale and leaseback transactions, the Group assesses whether the transfer of
the asset satisfies the requirements of IFRS 15 for a sale. If the transfer is accounted
for as a sale, the right-of-use asset recognized in the balance sheet will be
measured by the portion of the carrying amount of the original asset that
corresponds to the value of the right to use that remains with the seller. The
portion of the sales proceeds of the asset corresponding to the rights transferred
to the buyer is presented as sales gain or loss. If the consideration for the sale of
the asset or payments for the lease do not equal the fair value, the difference is
recognized as an adjustment to the asset\u2019s sales proceeds. Any below-market
terms are accounted for as a prepayment of lease payments, and any above-
market terms are accounted for as financial liability. If the requirements for a sale
are not satisfied, the Group will present the transfer proceeds as financial liability
and continue to recognize the transferred asset in its balance sheet, if the
transferred items were recognized in the balance sheet before the transaction.
In the financial year 2024 the Group disposed laptops, phones, other IT equipment
and production raw materials to another party and leased the same items back.
These transactions did not qualify as a sale under IFRS 15 due to the presence of a
repurchase option. The proceeds received are recognized as financial liability and
the Group continues to recognize the transferred assets in its balance sheet. The
lease payments are allocated between interest expense and principal repayment
of this liability.
Amounts recognized in the statement of financial position
EUR 1,000
Buildings
Machinery
and
equipment
Total
Carrying amount at 1 Jan 2025
23,540.7
4,430.6
27,971.3
Additions
801.8
1,564.3
2,366.0
Disposals
-136.2
-136.2
Depreciations and impairment
-4,910.4
-2,436.4
-7,346.7
Translation differences
-497.2
-30.1
-527.3
Carrying amount at 31 Dec 2025
18,934.9
3,392.2
22,327.1
EUR 1,000
Buildings
Machinery
and
equipment
Total
Carrying amount at 1 Jan 2024
21,384.7
3,110.1
24,494.8
Additions
6,499.4
3,686.0
10,185.4
Disposals
-237.0
-153.2
-390.2
Depreciations and impairment
-4,400.3
-2,222.2
-6,622.6
Translation differences
293.9
10.0
303.9
Carrying amount at 31 Dec 2024
23,540.7
4,430.6
27,971.3
The carrying amount of leases recognized as right-of-use assets located in Finland at 31
Dec 2025 amounted to EUR 17,018.1 (20,260.9) thousand.
Lease liabilities arising from lease agreements and the maturity of related
financial expenses are specified in note 4.2
Amounts recognized in the statement of
comprehensive income
EUR 1,000
2025
2024
Depreciation of right-of-use assets
Buildings
-4,920.9
-4,400.3
Machinery and equipment
-2,436.4
-2,222.2
Total
-7,357.3
-6,622.6
Interest expense (included in finance cost)
-1,254.8
-1,330.7
Expense relating to leases of short-term and low
value (included in other operating expenses)
-440.7
-529.5
Total cash flow from leases
-8,733.7
-7,989.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-307": { "value": "
Accounting principles
Kempower\u2019s right-of-use assets include premises and vehicles leased by the
Group. The lease agreements are mainly fixed term agreements for 1\u201310 years.
The leases are recognized in the balance sheet as right-of-use asset items and
corresponding lease liabilities beginning from the day when the leased asset item
is at the Group\u2019s disposal. Lease payments are recognized as amortization of the
lease liability and the related interest expense. Right-of-use asset items are
depreciated over the useful economic life of the asset item or according to the
lease term.
The right-of-use asset items capitalized based on leases and the corresponding
lease liability are measured upon the commencement of the lease at the current
value of those minimum lease payments that remain outstanding on that day.
Considered in the calculation are the minimum lease payments at their
discounted value as well as the lease payments for optional additional lease
terms, if it is fairly certain that an option for such an additional lease term will be
exercised.
The Group applies the incremental borrowing rate as the discount rate for lease
payments. The lease payments for the premises are tied to the inflation index. The
index-based variable lease payments are part of the liability that is related to the
lease, and their value is calculated based on the index at the beginning of the
lease term. Index changes are considered for the accounting period during which
the index changes. The cash flows related to leases are reported as amortization
of lease liabilities in the cash flow statement under cash flow from financing
activities, and the interests paid on lease liabilities are reported under cash flow
from operating activities. The Group holds short-term leases, the lease term of
which is 12 months or less, as well as leases where the asset item in question is low
in value. These leases are recognized during the lease term as an expense in the
income statement.
Sale and leaseback
In sale and leaseback transactions, the Group assesses whether the transfer of
the asset satisfies the requirements of IFRS 15 for a sale. If the transfer is accounted
for as a sale, the right-of-use asset recognized in the balance sheet will be
measured by the portion of the carrying amount of the original asset that
corresponds to the value of the right to use that remains with the seller. The
portion of the sales proceeds of the asset corresponding to the rights transferred
to the buyer is presented as sales gain or loss. If the consideration for the sale of
the asset or payments for the lease do not equal the fair value, the difference is
recognized as an adjustment to the asset\u2019s sales proceeds. Any below-market
terms are accounted for as a prepayment of lease payments, and any above-
market terms are accounted for as financial liability. If the requirements for a sale
are not satisfied, the Group will present the transfer proceeds as financial liability
and continue to recognize the transferred asset in its balance sheet, if the
transferred items were recognized in the balance sheet before the transaction.
In the financial year 2024 the Group disposed laptops, phones, other IT equipment
and production raw materials to another party and leased the same items back.
These transactions did not qualify as a sale under IFRS 15 due to the presence of a
repurchase option. The proceeds received are recognized as financial liability and
the Group continues to recognize the transferred assets in its balance sheet. The
lease payments are allocated between interest expense and principal repayment
of this liability.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-308": { "value": "
Accounting principles
Inventories consist of finished charging devices, charging components needed in
the manufacture of products, charger spare parts as well as unfinished products.
Inventories are measured at weighted average cost.
If the value of inventories falls below the above, inventories are measured at net
realizable value. The acquisition cost of inventories consists of all purchase costs,
production and logistics costs, handling costs and other costs directly attributable
to inventories. The acquisition cost of purchased inventories is deducted by
quantity discounts and cash discounts. The net realization value is the estimated
sales price obtained in ordinary business less direct sales costs.
Critical accounting judgements:
The Group regularly reviews inventories for obsolescence and turnover, and for
possible reduction of net realizable value below cost and records a write-down as
necessary. Such reviews require assessments and changes in the assessments
may cause changes in inventory measurement in future periods.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-310": { "value": "
3.5 TRADE AND OTHER CURRENT RECEIVABLES
Trade receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
Trade receivables
55,794.3
35,640.9
Loss allowance provision
-3,304.6
-5,197.1
Total
52,489.7
30,443.7
Prepaid expenses and accrued income
EUR 1,000
31 Dec 2025
31 Dec 2024
Accrued goverment grants
2,041.6
1,776.6
Contract assets (sales accruals)
3,972.9
3,148.5
IT costs paid in advance
904.4
922.5
Other costs paid in advance
1,950.1
2,237.1
Income tax receivables
456.4
247.6
Derivatives
361.2
84.2
Total
9,686.6
8,416.6
Other receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT receivables
3,661.5
1,065.3
Other receivables
203.4
588.1
Total
3,864.9
1,653.4
3.6 TRADE PAYABLES AND OTHER CURRENT LIABILITIES
Trade payables
EUR 1,000
31 Dec 2025
31 Dec 2024
Trade payables
44,081.9
29,665.0
Total
44,081.9
29,665.0
Accruals and deferred income
EUR 1,000
31 Dec 2025
31 Dec 2024
Employee benefit accruals
16,449.3
11,685.0
Income tax liability
1,318.4
921.0
Contract liabilities (sales accruals)
19,476.4
6,765.7
IT cost accruals
584.2
625.1
Administration cost accruals
790.4
311.0
Other operating expense accruals
5,366.3
5,246.6
Derivatives
365.3
330.3
Other accruals
14.3
5.2
Total
44,364.7
25,889.9
Other current liabilities
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT payables
2,726.7
2,095.5
Withholding tax and social security charge payables
1,498.9
1,390.1
Other payables
138.3
0.5
Total
4,363.9
3,486.1
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Liquidity risk
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2025
EUR 1,000
2026
2027
2028
2029\u2013
thereafter
Total
Trade payables
44,081.9
44,081.9
Accruals for trade payables
6,740.9
6,740.9
Other non-interest-bearing liabilities
138.3
138.3
Derivatives - Capital inflow
-56,199.6
-56,199.6
Derivatives - Capital outflow
56,202.3
56,202.3
Loans from financial institutions including interest costs
12,219.0
147.0
39.7
12,405.7
Lease liabilities including interest costs
8,605.6
7,084.2
4,766.4
7,457.7
27,913.9
Total
71,788.5
7,231.2
4,806.1
7,457.7
91,283.5
Kempower has purchase commitments amounting to EUR 22,743.8 thousand that are classified as conventional
purchase agreements not within the scope of IFRS 9 and therefore not presented in the table above. The purchase
commitments mature during 2026.
Kempower finances the contractual maturity repayments primarily with cash flow from operating activities. The
Group can also utilize its cash and cash equivalents amounting to EUR 3,886.9 thousand at the end of the financial
year 2025, its money market investments (other financial assets classified as fair value through profit and loss)
amounting to EUR 51,027.1 thousand at the end of the financial year 2025 as well as the unused bank account and
revolving credit facilities amounting to EUR 71,389.4 thousand at the end of the financial year 2025.
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2024
EUR 1,000
2025
2026
2027
2028\u2013
thereafter
Total
Trade payables
29,665.0
29,665.0
Accruals for trade payables
6,182.7
6,182.7
Other non-interest-bearing liabilities
0.5
0.5
Derivatives - Capital inflow
-36,827.8
-36,827.8
Derivatives - Capital outflow
37,073.8
37,073.8
Loans from financial institutions including interest costs
10,067.9
2,607.0
147.0
39.7
12,861.6
Lease liabilities including interest costs
9,289.3
8,057.3
6,549.2
11,673.0
35,568.7
Total
55,451.4
10,664.3
6,696.2
11,712.7
84,524.5
Foreign exchange risk
Translation risks
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-773.2
3,271.8
2,207.1
2,306.7
573.1
808.4
73.7
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-818.1
2,551.8
1,839.9
1,442.5
377.6
593.7
The following table shows how a 10% weakening or strengthening of the functional currencies of the Group
companies against the euro would affect the Group\u2019s equity.
Sensitivity analysis, impact on equity as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
70.3
-297.4
-200.6
-209.7
-52.1
-73.5
-6.7
Strengthening 10%
-85.9
363.5
245.2
256.3
63.7
89.8
8.2
Sensitivity analysis, impact on equity as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
74.4
-232.0
-167.3
-131.1
-34.3
-54.0
Strengthening 10%
-90.9
283.5
204.4
160.3
42.0
66.0
Transaction risks
International sales and purchasing activities and foreign currency denominated financing to subsidiaries expose
the Group to transaction risks. The currency specific transaction risk exposure comprises foreign currency
denominated receivables and liabilities in the balance sheet and foreign subsidiaries' receivables and liabilities with
respect to the parent company.
The Group\u2019s transaction risk as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
10,120.6
-133.7
-379.3
-1,258.1
1,592.7
8,444.4
-912.7
Hedging derivatives
-11,416.8
-561.1
-591.1
10.0
-1,655.5
-8,185.1
471.0
Open exposure
-1,296.2
-694.8
-970.4
-1,248.1
-62.8
259.3
-441.8
The Group\u2019s transaction risk as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
12,630.1
18.3
-885.2
-1,750.3
707.3
-91.7
-631.9
Hedging derivatives
-14,727.1
200.0
620.6
1,077.8
-1,248.5
275.2
379.8
Open exposure
-2,097.0
218.3
-264.6
-672.6
-541.2
183.5
-252.1
The following table shows how a 10% weakening or strengthening of the foreign currencies against the euro would
affect the Group\u2019s pre-tax profit/loss through the foreign currency transaction position.
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
117.8
63.2
88.2
113.5
5.7
-23.6
40.2
Strengthening 10%
-144.0
-77.2
-107.8
-138.7
-7.0
28.8
-49.1
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
190.6
-19.8
24.1
61.1
49.2
-16.7
22.9
Strengthening 10%
-233.0
24.3
-29.4
-74.7
-60.1
20.4
-28.0
4.3 FINANCIAL ASSETS AND LIABILITIES
Accounting principles
The Company has classified the hierarchies of financial assets according to the
availability of data on market terms and other price data. The Group uses
generally accepted valuation models to determine the fair values of these
instruments, and the input data for these models is based in significant part on
observable market data.
The level in the fair value hierarchy at which a certain item measured at fair value
is classified overall is determined on the basis of the significant input data on the
lowest level with regard to the entire item measured at fair value. The significance
of input data is evaluated in its entirety in relation to the item valued at fair value.
The instruments at level 1 of the hierarchy are traded in active markets and their
fair values are directly based on quoted market prices. The Group mainly uses
valuations provided by its asset management partners as a source of price data.
The fair values of level 2 instruments, in significant part, are based on other input
data than the quoted prices included in level 1, although the data can be obtained
either directly (as a price) or indirectly (as a derivative of the price). To determine
the fair value of these instruments, the Group utilizes generally accepted valuation
models, which use input data that is, in significant part, based on observable
market data. The fair value of instruments at level 3 is not based on observable
market data (inputs not observable).
Financial assets
The Group\u2019s financial assets are classified either as measured at amortized cost,
measured at fair value through profit or loss or measured at fair value through
other comprehensive income. The financial assets are classified in the context of
their initial acquisition. At initial recognition, the Group measures a financial asset
at its fair value. Financial assets are subsequently measured at amortized cost,
measured at fair value through other comprehensive income or measured at fair
value through profit or loss. The purchases and sales of financial assets are
recognized in the balance sheet on the transaction date when the Group
commits to buy or sell a financial instrument. Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.
The Group categorizes its financial assets and liabilities into the following categories:
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
31 Dec 2025
31 Dec 2025
31 Dec 2025
31 Dec 2024
31 Dec 2024
31 Dec 2024
Fair values of derivative contracts, EUR 1,000
Derivative assets
Derivative liabilities
Fair value, net
Derivative assets
Derivative liabilities
Fair value, net
Foreign currency derivatives
361.2
365.3
-4.2
84.2
330.3
-246.1
Notional principal amounts of derivative contracts, EUR 1,000
31 Dec 2025
31 Dec 2024
Foreign currency derivatives
56,457.6
37,090.8
Unused credit facilities, EUR 1,000
31 Dec 2025
31 Dec 2024
Bank overdraft facility, payable at call
Amount used
8,610.6
6,052.8
Amount unused
16,389.4
18,947.2
Green Revolving Credit Facilities, payable at call
Amount used
Amount unused
55,000.0
30,000.0
Unused credit facilities total
71,389.4
48,947.2
Changes in liabilities arising from financing activities
Liabilities from financing activities
EUR 1,000
Non-current loans
from financial
institutions
Current loans from
financial
institutions
Non-current lease
liabilities
Current lease
liabilities
Total
Interest-bearing liabilities as at 1 January 2024
20,511.0
4,704.8
25,215.8
Cash flows 2024
2,658.5
9,679.4
-6,128.8
6,209.1
New and changed leases 2024
7,652.8
2,532.6
10,185.4
Other non-cash movements 2024
-5,760.0
5,713.8
-46.2
Interest-bearing liabilities as at 31 Dec 2024
2,658.5
9,679.4
22,403.9
6,822.3
41,564.1
Cash flows 2025
-381.5
-7,038.2
-7,419.7
New and changed leases 2025
1,661.0
705.1
2,366.0
Other non-cash movements 2025
-2,478.5
2,478.5
-7,021.4
6,274.8
-746.6
Interest-bearing liabilities as at 31 Dec 2025
180.0
11,776.4
17,043.5
6,764.0
35,763.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-309": { "value": "
3.5 TRADE AND OTHER CURRENT RECEIVABLES
Trade receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
Trade receivables
55,794.3
35,640.9
Loss allowance provision
-3,304.6
-5,197.1
Total
52,489.7
30,443.7
Prepaid expenses and accrued income
EUR 1,000
31 Dec 2025
31 Dec 2024
Accrued goverment grants
2,041.6
1,776.6
Contract assets (sales accruals)
3,972.9
3,148.5
IT costs paid in advance
904.4
922.5
Other costs paid in advance
1,950.1
2,237.1
Income tax receivables
456.4
247.6
Derivatives
361.2
84.2
Total
9,686.6
8,416.6
Other receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT receivables
3,661.5
1,065.3
Other receivables
203.4
588.1
Total
3,864.9
1,653.4
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
The Group categorizes its financial assets and liabilities into the following categories:
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-311": { "value": "
Trade receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
Trade receivables
55,794.3
35,640.9
Loss allowance provision
-3,304.6
-5,197.1
Total
52,489.7
30,443.7
Credit risk
Credit risk and counterparty risk
Aging of receivables and expected credit loss allowance 31 Dec 2025
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
30,340.1
3,737.5
1,817.2
1,298.9
36.9
935.1
629.5
1,503.8
40,299.1
Gross carrying amount - trade receivables for lower risk customer groups
11,958.2
2,263.8
224.4
145.3
31.4
551.1
315.9
5.0
15,495.3
Trade receivables gross carrying amount total
42,298.3
6,001.3
2,041.7
1,444.3
68.3
1,486.3
945.4
1,508.8
55,794.3
Expected credit loss allowance - trade receivables for higher credit risk customer groups
86.6
56.3
73.3
108.5
2.8
394.8
533.5
1,494.8
2,750.5
Expected credit loss allowance - trade receivables for lower credit risk customer groups
3.6
7.0
3.0
10.3
2.0
283.4
239.8
5.0
554.2
Expected credit loss allowance for trade receivables
90.1
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,304.6
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,469.5
3,469.5
Gross carrying amount - contract assets for lower risk customer groups
617.2
617.2
Contract assets gross carrying amount total
4,086.8
4,086.8
Expected credit loss allowance - contract assets for higher credit risk customer groups
113.6
113.6
Expected credit loss allowance - contract assets for lower credit risk customer groups
0.3
0.3
Expected credit loss allowance for contract assets total
113.9
113.9
Expected credit loss allowance total
204.0
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,418.5
Trade receivables net amount
42,208.2
5,938.0
1,965.4
1,325.5
63.5
808.1
172.0
9.0
52,489.7
Contract assets net amount
3,972.9
3,972.9
Aging of receivables and expected credit loss allowance 31 Dec 2024
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
14,359.6
2,773.5
769.6
386.9
246.2
876.1
3,170.3
191.4
22,773.5
Gross carrying amount - trade receivables for lower risk customer groups
7,103.5
2,968.0
1,262.6
119.8
8.1
703.5
0.8
701.1
12,867.4
Trade receivables gross carrying amount total
21,463.0
5,741.5
2,032.1
506.7
254.3
1,579.6
3,171.1
892.5
35,640.9
Expected credit loss allowance - trade receivables for higher credit risk customer groups
63.2
67.1
32.9
32.0
79.2
517.1
3,170.3
191.4
4,153.3
Expected credit loss allowance - trade receivables for lower credit risk customer groups
2.0
8.3
2.6
9.6
1.2
318.3
0.8
701.1
1,043.8
Expected credit loss allowance for trade receivables
65.2
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,197.1
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,245.9
3,245.9
Gross carrying amount - contract assets for lower risk customer groups
174.6
174.6
Contract assets gross carrying amount total
3,420.4
3,420.4
Expected credit loss allowance - contract assets for higher credit risk customer groups
97.4
97.4
Expected credit loss allowance - contract assets for lower credit risk customer groups
174.6
174.6
Expected credit loss allowance for contract assets total
272.0
272.0
Expected credit loss allowance for trade receivables and contract assets total
337.1
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,469.1
Trade receivables net amount
21,397.9
5,666.1
1,996.6
465.0
173.9
744.3
30,443.7
Contract assets net amount
3,148.5
3,148.5
Movements of the expected credit loss allowance:
EUR 1,000
2025
2024
Expected loss allowance at 1 Jan
5,469.1
3,262.8
Increase/decrease in expected credit loss allowance recognized in profit or loss during the year
-2,022.1
2,296.5
Credit losses realized
-75.8
Translation differences
-28.5
-14.3
Credit loss allowance at 31 Dec
3,418.5
5,469.1
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-312": { "value": "
Prepaid expenses and accrued income
EUR 1,000
31 Dec 2025
31 Dec 2024
Accrued goverment grants
2,041.6
1,776.6
Contract assets (sales accruals)
3,972.9
3,148.5
IT costs paid in advance
904.4
922.5
Other costs paid in advance
1,950.1
2,237.1
Income tax receivables
456.4
247.6
Derivatives
361.2
84.2
Total
9,686.6
8,416.6
Other receivables
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT receivables
3,661.5
1,065.3
Other receivables
203.4
588.1
Total
3,864.9
1,653.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-313": { "value": "
3.6 TRADE PAYABLES AND OTHER CURRENT LIABILITIES
Trade payables
EUR 1,000
31 Dec 2025
31 Dec 2024
Trade payables
44,081.9
29,665.0
Total
44,081.9
29,665.0
Accruals and deferred income
EUR 1,000
31 Dec 2025
31 Dec 2024
Employee benefit accruals
16,449.3
11,685.0
Income tax liability
1,318.4
921.0
Contract liabilities (sales accruals)
19,476.4
6,765.7
IT cost accruals
584.2
625.1
Administration cost accruals
790.4
311.0
Other operating expense accruals
5,366.3
5,246.6
Derivatives
365.3
330.3
Other accruals
14.3
5.2
Total
44,364.7
25,889.9
Other current liabilities
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT payables
2,726.7
2,095.5
Withholding tax and social security charge payables
1,498.9
1,390.1
Other payables
138.3
0.5
Total
4,363.9
3,486.1
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-314": { "value": "
Accruals and deferred income
EUR 1,000
31 Dec 2025
31 Dec 2024
Employee benefit accruals
16,449.3
11,685.0
Income tax liability
1,318.4
921.0
Contract liabilities (sales accruals)
19,476.4
6,765.7
IT cost accruals
584.2
625.1
Administration cost accruals
790.4
311.0
Other operating expense accruals
5,366.3
5,246.6
Derivatives
365.3
330.3
Other accruals
14.3
5.2
Total
44,364.7
25,889.9
Other current liabilities
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT payables
2,726.7
2,095.5
Withholding tax and social security charge payables
1,498.9
1,390.1
Other payables
138.3
0.5
Total
4,363.9
3,486.1
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-316": { "value": "
Other current liabilities
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT payables
2,726.7
2,095.5
Withholding tax and social security charge payables
1,498.9
1,390.1
Other payables
138.3
0.5
Total
4,363.9
3,486.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-315": { "value": "
Other current liabilities
EUR 1,000
31 Dec 2025
31 Dec 2024
VAT payables
2,726.7
2,095.5
Withholding tax and social security charge payables
1,498.9
1,390.1
Other payables
138.3
0.5
Total
4,363.9
3,486.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-317": { "value": "
3.7 PROVISIONS
Accounting principles
Provisions are recognized, when the Group has a legal or constructive obligation
resulting from a past event, a payment obligation is likely to arise, and the amount
of obligation can be reliably estimated. Provision amounts are reviewed on each
balance sheet date and adjusted to reflect the current best estimate. The Group\u2019s
provisions are mainly warranty provisions based on the volume of actual warranty
work in the past. The Group generally applies a 24-month warranty period from
the date of commissioning or at maximum 30 months from the date of shipment.
The projected amount of warranty provision is based on past experience from
actual warranty work and the costs arising from it. Should the actual costs of
warranty work exceed the said provision, such excess will be recognized as an
expense. If the actual costs of warranty work fall below the provision, the
difference will be recognized as profit.
Critical accounting judgements:
The Group recognizes provision for warranty work based on past experience from
actual warranty work. The amount of provision is reviewed regularly and adjusted
where necessary to reflect the best estimate at the time of review. The actual
costs may differ from the estimates.
EUR 1,000
Warranty
provisions
Other
provisions
Total
Provisions at 1 Jan 2025
14,137.8
217.0
14,354.9
Additions
17,937.5
1,847.2
19,784.8
Provisions used
-19,520.3
-264.9
-19,785.2
Provisions at 31 Dec 2025
12,555.1
1,799.3
14,354.4
Carrying amounts of provisions
Non-current
5,284.0
5,284.0
Current
7,271.1
1,799.3
9,070.4
12,555.1
1,799.3
14,354.4
EUR 1,000
Warranty
provisions
Other
provisions
Total
Provisions at 1 Jan 2024
13,351.7
825.1
14,176.8
Additions
17,545.1
217.0
17,762.1
Provisions used
-16,759.0
-825.1
-17,584.0
Provisions at 31 Dec 2024
14,137.8
217.0
14,354.9
Carrying amounts of provisions
Non-current
6,017.4
6,017.4
Current
8,120.4
217.0
8,337.4
14,137.8
217.0
14,354.9
Provisions have not been discounted to present value due to immateriality
of discounting effect.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-318": { "value": "
Accounting principles
Provisions are recognized, when the Group has a legal or constructive obligation
resulting from a past event, a payment obligation is likely to arise, and the amount
of obligation can be reliably estimated. Provision amounts are reviewed on each
balance sheet date and adjusted to reflect the current best estimate. The Group\u2019s
provisions are mainly warranty provisions based on the volume of actual warranty
work in the past. The Group generally applies a 24-month warranty period from
the date of commissioning or at maximum 30 months from the date of shipment.
The projected amount of warranty provision is based on past experience from
actual warranty work and the costs arising from it. Should the actual costs of
warranty work exceed the said provision, such excess will be recognized as an
expense. If the actual costs of warranty work fall below the provision, the
difference will be recognized as profit.
Critical accounting judgements:
The Group recognizes provision for warranty work based on past experience from
actual warranty work. The amount of provision is reviewed regularly and adjusted
where necessary to reflect the best estimate at the time of review. The actual
costs may differ from the estimates.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-319": { "value": "
4.1 SHAREHOLDERS\u2019 EQUITY
Accounting principles
The Group\u2019s equity consists of share capital, invested unrestricted equity fund,
other reserves, treasury shares, translation differences, and retained earnings.
Kempower\u2019s share is listed on the Official list of Nasdaq Helsinki. Kempower\u2019s
registered share capital is EUR 80,000 and the total number of shares is 55,542,920.
The Company has one series of shares. Each share entitles its holder to one vote
at the Annual General Meeting. The shares have no nominal value. Kempower\u2019s
shares are included in the book-entry system maintained by Euroclear Finland Oy.
The trading code of the shares is KEMPOWR and the ISIN code is FI4000513593.
Treasury shares
Consideration paid for the purchase of treasury shares is recognized directly in
equity. The cost of treasury shares is presented as a separate reserve reducing
the unrestricted equity of the Company.
Invested unrestricted equity fund
The subscription price of new shares is recorded in the reserve for invested
unrestricted equity unless it is decided in the share issue resolution to be recorded
partly or fully into share capital. Contributions to the reserve for invested
unrestricted equity can also be made without a share issue. Transaction costs
directly related to the issue of new shares and the funds raised are recognized as
net in the reserve for invested unrestricted equity.
Translation difference
Translation difference contains the translation differences arising from the
conversion of the acquired equity and the financial statements consolidated of
foreign subsidiaries. The change in translation difference is presented in other
comprehensive income.
EUR 1,000
Outstanding
shares (pcs)
Own shares
(pcs)
Total
registered
shares (pcs)
1 Jan 2024
55,277,746
265,174
55,542,920
Acquisition of own shares
-4,050
4,050
31 Dec 2024
55,273,696
269,224
55,542,920
Acquisition of own shares
Own shares transferred for options
exercised
85,438
-85,438
Payment of share-based incentive
plan 2022\u20132024
45,286
-45,286
31 Dec 2025
55,404,420
138,500
55,542,920
The Board\u2019s proposal for the distribution of profit
The parent company\u2019s distributable funds (unrestricted equity) on 31
December 2025 are EUR 60,209,834.84 of which the share of the period net
loss is EUR -26,235,755.19. The Board of Directors proposes to the Annual
General Meeting that no dividend be paid for the fiscal year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-320": { "value": "
Accounting principles
The Group\u2019s equity consists of share capital, invested unrestricted equity fund,
other reserves, treasury shares, translation differences, and retained earnings.
Kempower\u2019s share is listed on the Official list of Nasdaq Helsinki. Kempower\u2019s
registered share capital is EUR 80,000 and the total number of shares is 55,542,920.
The Company has one series of shares. Each share entitles its holder to one vote
at the Annual General Meeting. The shares have no nominal value. Kempower\u2019s
shares are included in the book-entry system maintained by Euroclear Finland Oy.
The trading code of the shares is KEMPOWR and the ISIN code is FI4000513593.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-321": { "value": "
Treasury shares
Consideration paid for the purchase of treasury shares is recognized directly in
equity. The cost of treasury shares is presented as a separate reserve reducing
the unrestricted equity of the Company.
EUR 1,000
Outstanding
shares (pcs)
Own shares
(pcs)
Total
registered
shares (pcs)
1 Jan 2024
55,277,746
265,174
55,542,920
Acquisition of own shares
-4,050
4,050
31 Dec 2024
55,273,696
269,224
55,542,920
Acquisition of own shares
Own shares transferred for options
exercised
85,438
-85,438
Payment of share-based incentive
plan 2022\u20132024
45,286
-45,286
31 Dec 2025
55,404,420
138,500
55,542,920
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-322": { "value": "
Treasury shares
Consideration paid for the purchase of treasury shares is recognized directly in
equity. The cost of treasury shares is presented as a separate reserve reducing
the unrestricted equity of the Company.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-323": { "value": "
Invested unrestricted equity fund
The subscription price of new shares is recorded in the reserve for invested
unrestricted equity unless it is decided in the share issue resolution to be recorded
partly or fully into share capital. Contributions to the reserve for invested
unrestricted equity can also be made without a share issue. Transaction costs
directly related to the issue of new shares and the funds raised are recognized as
net in the reserve for invested unrestricted equity.
Translation difference
Translation difference contains the translation differences arising from the
conversion of the acquired equity and the financial statements consolidated of
foreign subsidiaries. The change in translation difference is presented in other
comprehensive income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-324": { "value": "
EUR 1,000
Outstanding
shares (pcs)
Own shares
(pcs)
Total
registered
shares (pcs)
1 Jan 2024
55,277,746
265,174
55,542,920
Acquisition of own shares
-4,050
4,050
31 Dec 2024
55,273,696
269,224
55,542,920
Acquisition of own shares
Own shares transferred for options
exercised
85,438
-85,438
Payment of share-based incentive
plan 2022\u20132024
45,286
-45,286
31 Dec 2025
55,404,420
138,500
55,542,920
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-325": { "value": "
The Board\u2019s proposal for the distribution of profit
The parent company\u2019s distributable funds (unrestricted equity) on 31
December 2025 are EUR 60,209,834.84 of which the share of the period net
loss is EUR -26,235,755.19. The Board of Directors proposes to the Annual
General Meeting that no dividend be paid for the fiscal year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-326": { "value": "
4.2 FINANCIAL RISK MANAGEMENT
Accounting principles
Kempower is exposed to several types of financial risks: foreign currency, interest,
financing, liquidity, credit, and counterparty risks. The most significant risks relate
to foreign currency, credit, and liquidity risks. The Group observes a uniform
treasury policy that has been approved by the Company\u2019s Board of Directors. The
Group\u2019s Chief Financial Officer is responsible for the management of financial
risks. The objective of risk management is to mitigate all possible financial risks
where financially reasonable.
Capital management and liquidity risk
Kempower\u2019s capital management aims to maintain the ongoing availability of
sufficient financial resources for the Group\u2019s operating activities. To maintain or to
change its capital structure the Group can issue new shares, get financing
through borrowings, or make changes to the execution of the planned growth
investments.
The Group\u2019s management monitors capital based on net debt. In the calculation
of net debt, the Group includes interest bearing liabilities deducted with cash and
cash equivalents and current financial assets. Interest bearing liabilities include
loans from financial institutions and lease liabilities.
Foreign currency risk
Kempower conducts its business in several countries in addition to which the
Company makes purchases from several countries. This exposes the Group to
different foreign currency risks. Foreign currency risks arise from net investments in
subsidiaries outside the euro zone (translation risk), and foreign currency
denominated assets, liabilities and expected business transactions (transaction
risk). The Group is mainly exposed to foreign currency risks related to USD, GBP,
NOK, SEK, CAD, AUD and PLN currencies. The financing of each Group company is
organized in the Group company\u2019s operating currency. The parent company
bears the foreign currency risk related to the financing of the Group companies.
The risk is primarily hedged with derivative instruments.
Interest risk
The changes in interest rates affect Kempower\u2019s financial items through deposits,
other financial assets, utilized bank overdrafts and other financial liabilities. The
investment portfolio is subject to interest rate risk, which is managed with the
duration of the portfolio.
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Capital management
EUR 1000
31 Dec 2025
31 Dec 2024
Net debt
-19,150.2
-23,845.2
Total equity
101,910.0
111,847.8
Net gearing ratio
-18.8%
-21.3%
Net debt includes lease liabilities and loans from financial institutions
deducted by cash and cash equivalents and current financial assets.
The\u00a0Group\u2019s net debt is negative.
Credit risk
Credit risk and counterparty risk
Aging of receivables and expected credit loss allowance 31 Dec 2025
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
30,340.1
3,737.5
1,817.2
1,298.9
36.9
935.1
629.5
1,503.8
40,299.1
Gross carrying amount - trade receivables for lower risk customer groups
11,958.2
2,263.8
224.4
145.3
31.4
551.1
315.9
5.0
15,495.3
Trade receivables gross carrying amount total
42,298.3
6,001.3
2,041.7
1,444.3
68.3
1,486.3
945.4
1,508.8
55,794.3
Expected credit loss allowance - trade receivables for higher credit risk customer groups
86.6
56.3
73.3
108.5
2.8
394.8
533.5
1,494.8
2,750.5
Expected credit loss allowance - trade receivables for lower credit risk customer groups
3.6
7.0
3.0
10.3
2.0
283.4
239.8
5.0
554.2
Expected credit loss allowance for trade receivables
90.1
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,304.6
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,469.5
3,469.5
Gross carrying amount - contract assets for lower risk customer groups
617.2
617.2
Contract assets gross carrying amount total
4,086.8
4,086.8
Expected credit loss allowance - contract assets for higher credit risk customer groups
113.6
113.6
Expected credit loss allowance - contract assets for lower credit risk customer groups
0.3
0.3
Expected credit loss allowance for contract assets total
113.9
113.9
Expected credit loss allowance total
204.0
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,418.5
Trade receivables net amount
42,208.2
5,938.0
1,965.4
1,325.5
63.5
808.1
172.0
9.0
52,489.7
Contract assets net amount
3,972.9
3,972.9
Aging of receivables and expected credit loss allowance 31 Dec 2024
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
14,359.6
2,773.5
769.6
386.9
246.2
876.1
3,170.3
191.4
22,773.5
Gross carrying amount - trade receivables for lower risk customer groups
7,103.5
2,968.0
1,262.6
119.8
8.1
703.5
0.8
701.1
12,867.4
Trade receivables gross carrying amount total
21,463.0
5,741.5
2,032.1
506.7
254.3
1,579.6
3,171.1
892.5
35,640.9
Expected credit loss allowance - trade receivables for higher credit risk customer groups
63.2
67.1
32.9
32.0
79.2
517.1
3,170.3
191.4
4,153.3
Expected credit loss allowance - trade receivables for lower credit risk customer groups
2.0
8.3
2.6
9.6
1.2
318.3
0.8
701.1
1,043.8
Expected credit loss allowance for trade receivables
65.2
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,197.1
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,245.9
3,245.9
Gross carrying amount - contract assets for lower risk customer groups
174.6
174.6
Contract assets gross carrying amount total
3,420.4
3,420.4
Expected credit loss allowance - contract assets for higher credit risk customer groups
97.4
97.4
Expected credit loss allowance - contract assets for lower credit risk customer groups
174.6
174.6
Expected credit loss allowance for contract assets total
272.0
272.0
Expected credit loss allowance for trade receivables and contract assets total
337.1
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,469.1
Trade receivables net amount
21,397.9
5,666.1
1,996.6
465.0
173.9
744.3
30,443.7
Contract assets net amount
3,148.5
3,148.5
Movements of the expected credit loss allowance:
EUR 1,000
2025
2024
Expected loss allowance at 1 Jan
5,469.1
3,262.8
Increase/decrease in expected credit loss allowance recognized in profit or loss during the year
-2,022.1
2,296.5
Credit losses realized
-75.8
Translation differences
-28.5
-14.3
Credit loss allowance at 31 Dec
3,418.5
5,469.1
Liquidity risk
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2025
EUR 1,000
2026
2027
2028
2029\u2013
thereafter
Total
Trade payables
44,081.9
44,081.9
Accruals for trade payables
6,740.9
6,740.9
Other non-interest-bearing liabilities
138.3
138.3
Derivatives - Capital inflow
-56,199.6
-56,199.6
Derivatives - Capital outflow
56,202.3
56,202.3
Loans from financial institutions including interest costs
12,219.0
147.0
39.7
12,405.7
Lease liabilities including interest costs
8,605.6
7,084.2
4,766.4
7,457.7
27,913.9
Total
71,788.5
7,231.2
4,806.1
7,457.7
91,283.5
Kempower has purchase commitments amounting to EUR 22,743.8 thousand that are classified as conventional
purchase agreements not within the scope of IFRS 9 and therefore not presented in the table above. The purchase
commitments mature during 2026.
Kempower finances the contractual maturity repayments primarily with cash flow from operating activities. The
Group can also utilize its cash and cash equivalents amounting to EUR 3,886.9 thousand at the end of the financial
year 2025, its money market investments (other financial assets classified as fair value through profit and loss)
amounting to EUR 51,027.1 thousand at the end of the financial year 2025 as well as the unused bank account and
revolving credit facilities amounting to EUR 71,389.4 thousand at the end of the financial year 2025.
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2024
EUR 1,000
2025
2026
2027
2028\u2013
thereafter
Total
Trade payables
29,665.0
29,665.0
Accruals for trade payables
6,182.7
6,182.7
Other non-interest-bearing liabilities
0.5
0.5
Derivatives - Capital inflow
-36,827.8
-36,827.8
Derivatives - Capital outflow
37,073.8
37,073.8
Loans from financial institutions including interest costs
10,067.9
2,607.0
147.0
39.7
12,861.6
Lease liabilities including interest costs
9,289.3
8,057.3
6,549.2
11,673.0
35,568.7
Total
55,451.4
10,664.3
6,696.2
11,712.7
84,524.5
Foreign exchange risk
Translation risks
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-773.2
3,271.8
2,207.1
2,306.7
573.1
808.4
73.7
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-818.1
2,551.8
1,839.9
1,442.5
377.6
593.7
The following table shows how a 10% weakening or strengthening of the functional currencies of the Group
companies against the euro would affect the Group\u2019s equity.
Sensitivity analysis, impact on equity as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
70.3
-297.4
-200.6
-209.7
-52.1
-73.5
-6.7
Strengthening 10%
-85.9
363.5
245.2
256.3
63.7
89.8
8.2
Sensitivity analysis, impact on equity as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
74.4
-232.0
-167.3
-131.1
-34.3
-54.0
Strengthening 10%
-90.9
283.5
204.4
160.3
42.0
66.0
Transaction risks
International sales and purchasing activities and foreign currency denominated financing to subsidiaries expose
the Group to transaction risks. The currency specific transaction risk exposure comprises foreign currency
denominated receivables and liabilities in the balance sheet and foreign subsidiaries' receivables and liabilities with
respect to the parent company.
The Group\u2019s transaction risk as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
10,120.6
-133.7
-379.3
-1,258.1
1,592.7
8,444.4
-912.7
Hedging derivatives
-11,416.8
-561.1
-591.1
10.0
-1,655.5
-8,185.1
471.0
Open exposure
-1,296.2
-694.8
-970.4
-1,248.1
-62.8
259.3
-441.8
The Group\u2019s transaction risk as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
12,630.1
18.3
-885.2
-1,750.3
707.3
-91.7
-631.9
Hedging derivatives
-14,727.1
200.0
620.6
1,077.8
-1,248.5
275.2
379.8
Open exposure
-2,097.0
218.3
-264.6
-672.6
-541.2
183.5
-252.1
The following table shows how a 10% weakening or strengthening of the foreign currencies against the euro would
affect the Group\u2019s pre-tax profit/loss through the foreign currency transaction position.
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
117.8
63.2
88.2
113.5
5.7
-23.6
40.2
Strengthening 10%
-144.0
-77.2
-107.8
-138.7
-7.0
28.8
-49.1
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
190.6
-19.8
24.1
61.1
49.2
-16.7
22.9
Strengthening 10%
-233.0
24.3
-29.4
-74.7
-60.1
20.4
-28.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-327": { "value": "
Capital management and liquidity risk
Kempower\u2019s capital management aims to maintain the ongoing availability of
sufficient financial resources for the Group\u2019s operating activities. To maintain or to
change its capital structure the Group can issue new shares, get financing
through borrowings, or make changes to the execution of the planned growth
investments.
The Group\u2019s management monitors capital based on net debt. In the calculation
of net debt, the Group includes interest bearing liabilities deducted with cash and
cash equivalents and current financial assets. Interest bearing liabilities include
loans from financial institutions and lease liabilities.
Capital management
EUR 1000
31 Dec 2025
31 Dec 2024
Net debt
-19,150.2
-23,845.2
Total equity
101,910.0
111,847.8
Net gearing ratio
-18.8%
-21.3%
Net debt includes lease liabilities and loans from financial institutions
deducted by cash and cash equivalents and current financial assets.
The\u00a0Group\u2019s net debt is negative.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-328": { "value": "
Foreign currency risk
Kempower conducts its business in several countries in addition to which the
Company makes purchases from several countries. This exposes the Group to
different foreign currency risks. Foreign currency risks arise from net investments in
subsidiaries outside the euro zone (translation risk), and foreign currency
denominated assets, liabilities and expected business transactions (transaction
risk). The Group is mainly exposed to foreign currency risks related to USD, GBP,
NOK, SEK, CAD, AUD and PLN currencies. The financing of each Group company is
organized in the Group company\u2019s operating currency. The parent company
bears the foreign currency risk related to the financing of the Group companies.
The risk is primarily hedged with derivative instruments.
Interest risk
The changes in interest rates affect Kempower\u2019s financial items through deposits,
other financial assets, utilized bank overdrafts and other financial liabilities. The
investment portfolio is subject to interest rate risk, which is managed with the
duration of the portfolio.
Foreign exchange risk
Translation risks
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-773.2
3,271.8
2,207.1
2,306.7
573.1
808.4
73.7
The Group\u2019s translation exposure to net investments in subsidiaries outside the euro zone at the end of 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Net investment
-818.1
2,551.8
1,839.9
1,442.5
377.6
593.7
The following table shows how a 10% weakening or strengthening of the functional currencies of the Group
companies against the euro would affect the Group\u2019s equity.
Sensitivity analysis, impact on equity as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
70.3
-297.4
-200.6
-209.7
-52.1
-73.5
-6.7
Strengthening 10%
-85.9
363.5
245.2
256.3
63.7
89.8
8.2
Sensitivity analysis, impact on equity as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
AUD
PLN
DKK
Weakening 10%
74.4
-232.0
-167.3
-131.1
-34.3
-54.0
Strengthening 10%
-90.9
283.5
204.4
160.3
42.0
66.0
Transaction risks
International sales and purchasing activities and foreign currency denominated financing to subsidiaries expose
the Group to transaction risks. The currency specific transaction risk exposure comprises foreign currency
denominated receivables and liabilities in the balance sheet and foreign subsidiaries' receivables and liabilities with
respect to the parent company.
The Group\u2019s transaction risk as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
10,120.6
-133.7
-379.3
-1,258.1
1,592.7
8,444.4
-912.7
Hedging derivatives
-11,416.8
-561.1
-591.1
10.0
-1,655.5
-8,185.1
471.0
Open exposure
-1,296.2
-694.8
-970.4
-1,248.1
-62.8
259.3
-441.8
The Group\u2019s transaction risk as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Transaction risk
12,630.1
18.3
-885.2
-1,750.3
707.3
-91.7
-631.9
Hedging derivatives
-14,727.1
200.0
620.6
1,077.8
-1,248.5
275.2
379.8
Open exposure
-2,097.0
218.3
-264.6
-672.6
-541.2
183.5
-252.1
The following table shows how a 10% weakening or strengthening of the foreign currencies against the euro would
affect the Group\u2019s pre-tax profit/loss through the foreign currency transaction position.
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2025
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
117.8
63.2
88.2
113.5
5.7
-23.6
40.2
Strengthening 10%
-144.0
-77.2
-107.8
-138.7
-7.0
28.8
-49.1
Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2024
EUR 1,000
USD
NOK
GBP
SEK
CAD
AUD
PLN
Weakening 10%
190.6
-19.8
24.1
61.1
49.2
-16.7
22.9
Strengthening 10%
-233.0
24.3
-29.4
-74.7
-60.1
20.4
-28.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-331": { "value": "
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-330": { "value": "
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Credit risk
Credit risk and counterparty risk
Aging of receivables and expected credit loss allowance 31 Dec 2025
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
30,340.1
3,737.5
1,817.2
1,298.9
36.9
935.1
629.5
1,503.8
40,299.1
Gross carrying amount - trade receivables for lower risk customer groups
11,958.2
2,263.8
224.4
145.3
31.4
551.1
315.9
5.0
15,495.3
Trade receivables gross carrying amount total
42,298.3
6,001.3
2,041.7
1,444.3
68.3
1,486.3
945.4
1,508.8
55,794.3
Expected credit loss allowance - trade receivables for higher credit risk customer groups
86.6
56.3
73.3
108.5
2.8
394.8
533.5
1,494.8
2,750.5
Expected credit loss allowance - trade receivables for lower credit risk customer groups
3.6
7.0
3.0
10.3
2.0
283.4
239.8
5.0
554.2
Expected credit loss allowance for trade receivables
90.1
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,304.6
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,469.5
3,469.5
Gross carrying amount - contract assets for lower risk customer groups
617.2
617.2
Contract assets gross carrying amount total
4,086.8
4,086.8
Expected credit loss allowance - contract assets for higher credit risk customer groups
113.6
113.6
Expected credit loss allowance - contract assets for lower credit risk customer groups
0.3
0.3
Expected credit loss allowance for contract assets total
113.9
113.9
Expected credit loss allowance total
204.0
63.2
76.3
118.8
4.8
678.2
773.4
1,499.8
3,418.5
Trade receivables net amount
42,208.2
5,938.0
1,965.4
1,325.5
63.5
808.1
172.0
9.0
52,489.7
Contract assets net amount
3,972.9
3,972.9
Aging of receivables and expected credit loss allowance 31 Dec 2024
EUR 1,000
Not past due
1\u201330 days
past due
31\u201360 days
past due
61\u201390 days
past due
91\u2013120 days
past due
121\u2013180 days
past due
181\u2013360 days
past due
Over 360 days
past due
Total
Expected credit loss allowance for trade receivables
Gross carrying amount - trade receivables for higher credit risk customer groups
14,359.6
2,773.5
769.6
386.9
246.2
876.1
3,170.3
191.4
22,773.5
Gross carrying amount - trade receivables for lower risk customer groups
7,103.5
2,968.0
1,262.6
119.8
8.1
703.5
0.8
701.1
12,867.4
Trade receivables gross carrying amount total
21,463.0
5,741.5
2,032.1
506.7
254.3
1,579.6
3,171.1
892.5
35,640.9
Expected credit loss allowance - trade receivables for higher credit risk customer groups
63.2
67.1
32.9
32.0
79.2
517.1
3,170.3
191.4
4,153.3
Expected credit loss allowance - trade receivables for lower credit risk customer groups
2.0
8.3
2.6
9.6
1.2
318.3
0.8
701.1
1,043.8
Expected credit loss allowance for trade receivables
65.2
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,197.1
Expected credit loss allowance for contract assets
Gross carrying amount - contract assets for higher credit risk customer groups
3,245.9
3,245.9
Gross carrying amount - contract assets for lower risk customer groups
174.6
174.6
Contract assets gross carrying amount total
3,420.4
3,420.4
Expected credit loss allowance - contract assets for higher credit risk customer groups
97.4
97.4
Expected credit loss allowance - contract assets for lower credit risk customer groups
174.6
174.6
Expected credit loss allowance for contract assets total
272.0
272.0
Expected credit loss allowance for trade receivables and contract assets total
337.1
75.4
35.6
41.6
80.4
835.4
3,171.1
892.5
5,469.1
Trade receivables net amount
21,397.9
5,666.1
1,996.6
465.0
173.9
744.3
30,443.7
Contract assets net amount
3,148.5
3,148.5
Movements of the expected credit loss allowance:
EUR 1,000
2025
2024
Expected loss allowance at 1 Jan
5,469.1
3,262.8
Increase/decrease in expected credit loss allowance recognized in profit or loss during the year
-2,022.1
2,296.5
Credit losses realized
-75.8
Translation differences
-28.5
-14.3
Credit loss allowance at 31 Dec
3,418.5
5,469.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-329": { "value": "
Credit and counterparty risk
To manage its credit risk Kempower has drafted a credit policy stating the
requirements regarding the customers\u2019 credit rating and defining the principles of
sales on credit. The Group has insured a part of its trade receivables and sold
some of its trade receivables.
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Financial assets
The Group\u2019s financial assets are classified either as measured at amortized cost,
measured at fair value through profit or loss or measured at fair value through
other comprehensive income. The financial assets are classified in the context of
their initial acquisition. At initial recognition, the Group measures a financial asset
at its fair value. Financial assets are subsequently measured at amortized cost,
measured at fair value through other comprehensive income or measured at fair
value through profit or loss. The purchases and sales of financial assets are
recognized in the balance sheet on the transaction date when the Group
commits to buy or sell a financial instrument. Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-333": { "value": "
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
The different credit risk embedded in different customer groups is considered
when setting the expected loss rates used for determining expected credit loss
allowance by dividing the customers into higher credit risk and lower credit risk
customers. A higher expected loss rate is used for determining the credit loss
allowance for the trade receivables related to higher credit risk customers than
for those related to lower credit risk customers.
In addition, an impairment loss is recognized when there is evidence of insolvency,
bankruptcy, or liquidation of a creditor.
The impairment of trade receivables is recognized as an expense in other
operating expenses. Reversals of earlier impairment losses are recognized as a
reduction of other operating expenses.
Kempower uses factoring arrangements as one of the working capital
management tools. Sold trade receivables are derecognized once significant
related risks and rewards of ownership have been transferred to the buyer.
Critical accounting judgements:
The expected credit losses are based on assumptions of likely payment defaults
and on expected credit loss rates. Judgment is exercised when making these
assumptions and choosing the input information used in estimating expected
credit losses. The judgment is based on historical information, prevailing market
conditions and forward-looking assumptions made at the end of each financial
period.
Accounting principles
The Company has classified the hierarchies of financial assets according to the
availability of data on market terms and other price data. The Group uses
generally accepted valuation models to determine the fair values of these
instruments, and the input data for these models is based in significant part on
observable market data.
The level in the fair value hierarchy at which a certain item measured at fair value
is classified overall is determined on the basis of the significant input data on the
lowest level with regard to the entire item measured at fair value. The significance
of input data is evaluated in its entirety in relation to the item valued at fair value.
The instruments at level 1 of the hierarchy are traded in active markets and their
fair values are directly based on quoted market prices. The Group mainly uses
valuations provided by its asset management partners as a source of price data.
The fair values of level 2 instruments, in significant part, are based on other input
data than the quoted prices included in level 1, although the data can be obtained
either directly (as a price) or indirectly (as a derivative of the price). To determine
the fair value of these instruments, the Group utilizes generally accepted valuation
models, which use input data that is, in significant part, based on observable
market data. The fair value of instruments at level 3 is not based on observable
market data (inputs not observable).
Financial assets
The Group\u2019s financial assets are classified either as measured at amortized cost,
measured at fair value through profit or loss or measured at fair value through
other comprehensive income. The financial assets are classified in the context of
their initial acquisition. At initial recognition, the Group measures a financial asset
at its fair value. Financial assets are subsequently measured at amortized cost,
measured at fair value through other comprehensive income or measured at fair
value through profit or loss. The purchases and sales of financial assets are
recognized in the balance sheet on the transaction date when the Group
commits to buy or sell a financial instrument. Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-332": { "value": "
Trade receivables are recognized initially at fair value and subsequently at their
anticipated realizable value with an estimate made for loss allowance on
expected credit losses. To measure expected credit losses the Group applies the
IFRS 9 simplified approach which uses a lifetime expected loss allowance for all
trade receivables and contract assets.
No credit losses are expected from the part of trade receivables covered by credit
insurance, and this part is therefore excluded from the calculation of the expected
credit loss allowance. At the end of the financial year 2025 credit insurance
covered approximately 60 percent (26 percent) of trade receivables, and it
resulted in a decrease of the expected credit loss allowance of EUR 469 thousand
(EUR 122 thousand).
Financial assets measured at amortized cost comprise ordinary trade receivables,
other receivables and cash and cash equivalents. Trade receivables are
measured at amortized cost less any impairment losses. In measuring trade
receivables, Kempower has applied the simplified approach involving expected
credit losses as laid down in IFRS 9, according to which a deduction is recognized
on all trade receivables based on lifetime expected credit losses. Impairment of
trade receivables is recognized as an expense in other operating expenses.
Impairment of trade receivables is presented in note 4.2.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-334": { "value": "
Liquidity risk
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2025
EUR 1,000
2026
2027
2028
2029\u2013
thereafter
Total
Trade payables
44,081.9
44,081.9
Accruals for trade payables
6,740.9
6,740.9
Other non-interest-bearing liabilities
138.3
138.3
Derivatives - Capital inflow
-56,199.6
-56,199.6
Derivatives - Capital outflow
56,202.3
56,202.3
Loans from financial institutions including interest costs
12,219.0
147.0
39.7
12,405.7
Lease liabilities including interest costs
8,605.6
7,084.2
4,766.4
7,457.7
27,913.9
Total
71,788.5
7,231.2
4,806.1
7,457.7
91,283.5
Kempower has purchase commitments amounting to EUR 22,743.8 thousand that are classified as conventional
purchase agreements not within the scope of IFRS 9 and therefore not presented in the table above. The purchase
commitments mature during 2026.
Kempower finances the contractual maturity repayments primarily with cash flow from operating activities. The
Group can also utilize its cash and cash equivalents amounting to EUR 3,886.9 thousand at the end of the financial
year 2025, its money market investments (other financial assets classified as fair value through profit and loss)
amounting to EUR 51,027.1 thousand at the end of the financial year 2025 as well as the unused bank account and
revolving credit facilities amounting to EUR 71,389.4 thousand at the end of the financial year 2025.
The Group\u2019s contractual maturity repayments on financial liabilities at the end of 2024
EUR 1,000
2025
2026
2027
2028\u2013
thereafter
Total
Trade payables
29,665.0
29,665.0
Accruals for trade payables
6,182.7
6,182.7
Other non-interest-bearing liabilities
0.5
0.5
Derivatives - Capital inflow
-36,827.8
-36,827.8
Derivatives - Capital outflow
37,073.8
37,073.8
Loans from financial institutions including interest costs
10,067.9
2,607.0
147.0
39.7
12,861.6
Lease liabilities including interest costs
9,289.3
8,057.3
6,549.2
11,673.0
35,568.7
Total
55,451.4
10,664.3
6,696.2
11,712.7
84,524.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-335": { "value": "3886900.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-336": { "value": "51027100.0", "decimals": -2, "dimensions": { "concept": "ifrs-full:OtherCurrentFinancialAssets", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-337": { "value": "
Accounting principles
The Company has classified the hierarchies of financial assets according to the
availability of data on market terms and other price data. The Group uses
generally accepted valuation models to determine the fair values of these
instruments, and the input data for these models is based in significant part on
observable market data.
The level in the fair value hierarchy at which a certain item measured at fair value
is classified overall is determined on the basis of the significant input data on the
lowest level with regard to the entire item measured at fair value. The significance
of input data is evaluated in its entirety in relation to the item valued at fair value.
The instruments at level 1 of the hierarchy are traded in active markets and their
fair values are directly based on quoted market prices. The Group mainly uses
valuations provided by its asset management partners as a source of price data.
The fair values of level 2 instruments, in significant part, are based on other input
data than the quoted prices included in level 1, although the data can be obtained
either directly (as a price) or indirectly (as a derivative of the price). To determine
the fair value of these instruments, the Group utilizes generally accepted valuation
models, which use input data that is, in significant part, based on observable
market data. The fair value of instruments at level 3 is not based on observable
market data (inputs not observable).
Financial assets
The Group\u2019s financial assets are classified either as measured at amortized cost,
measured at fair value through profit or loss or measured at fair value through
other comprehensive income. The financial assets are classified in the context of
their initial acquisition. At initial recognition, the Group measures a financial asset
at its fair value. Financial assets are subsequently measured at amortized cost,
measured at fair value through other comprehensive income or measured at fair
value through profit or loss. The purchases and sales of financial assets are
recognized in the balance sheet on the transaction date when the Group
commits to buy or sell a financial instrument. Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
Financial assets and liabilities measured at fair value through profit or loss
comprise forward exchange contracts hedging against currency risks associated
with foreign currency denominated procurement agreements and short-term
other financial assets. Derivative instruments and other financial assets are
measured at fair value, and all valuation changes are recognized in the income
statement for the period during which they occur. Changes in the value of forward
contracts are calculated by measuring the contracts against the forward
exchange rates on the balance sheet date and comparing them with the counter
values calculated through the forward exchange rates on the date of entry into
the forward contracts. A derivative with a positive fair value is recognized in
\u201cprepaid expenses and accrued income\u201d whereas a derivative with a negative fair
value is recognized in \u201caccruals and deferred income\u201d. Hedge accounting has not
been applied to derivative contracts.
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-338": { "value": "
Accounting principles
The Company has classified the hierarchies of financial assets according to the
availability of data on market terms and other price data. The Group uses
generally accepted valuation models to determine the fair values of these
instruments, and the input data for these models is based in significant part on
observable market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-339": { "value": "
The level in the fair value hierarchy at which a certain item measured at fair value
is classified overall is determined on the basis of the significant input data on the
lowest level with regard to the entire item measured at fair value. The significance
of input data is evaluated in its entirety in relation to the item valued at fair value.
The instruments at level 1 of the hierarchy are traded in active markets and their
fair values are directly based on quoted market prices. The Group mainly uses
valuations provided by its asset management partners as a source of price data.
The fair values of level 2 instruments, in significant part, are based on other input
data than the quoted prices included in level 1, although the data can be obtained
either directly (as a price) or indirectly (as a derivative of the price). To determine
the fair value of these instruments, the Group utilizes generally accepted valuation
models, which use input data that is, in significant part, based on observable
market data. The fair value of instruments at level 3 is not based on observable
market data (inputs not observable).
The Group categorizes its financial assets and liabilities into the following categories:
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
31 Dec 2025
31 Dec 2025
31 Dec 2025
31 Dec 2024
31 Dec 2024
31 Dec 2024
Fair values of derivative contracts, EUR 1,000
Derivative assets
Derivative liabilities
Fair value, net
Derivative assets
Derivative liabilities
Fair value, net
Foreign currency derivatives
361.2
365.3
-4.2
84.2
330.3
-246.1
Notional principal amounts of derivative contracts, EUR 1,000
31 Dec 2025
31 Dec 2024
Foreign currency derivatives
56,457.6
37,090.8
Unused credit facilities, EUR 1,000
31 Dec 2025
31 Dec 2024
Bank overdraft facility, payable at call
Amount used
8,610.6
6,052.8
Amount unused
16,389.4
18,947.2
Green Revolving Credit Facilities, payable at call
Amount used
Amount unused
55,000.0
30,000.0
Unused credit facilities total
71,389.4
48,947.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-340": { "value": "Financial assets are derecognized
when the Group has lost its contractual right to cash flows or when it has
materially transferred the risks and returns outside the Group.
A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-342": { "value": "
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-341": { "value": "
Other financial assets include money market and other fixed income investments
measured at fair value through profit or loss. Cash and cash equivalents consist of
bank account funds, some of which are foreign currency denominated. Changes
in the valuation of foreign-currency-denominated bank account funds occur
when the funds are translated into the exchange rate of the closing date.
Exchange rate gains and losses are recognized as profit or loss in financial
income and expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-345": { "value": "
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
Unused credit facilities, EUR 1,000
31 Dec 2025
31 Dec 2024
Bank overdraft facility, payable at call
Amount used
8,610.6
6,052.8
Amount unused
16,389.4
18,947.2
Green Revolving Credit Facilities, payable at call
Amount used
Amount unused
55,000.0
30,000.0
Unused credit facilities total
71,389.4
48,947.2
Changes in liabilities arising from financing activities
Liabilities from financing activities
EUR 1,000
Non-current loans
from financial
institutions
Current loans from
financial
institutions
Non-current lease
liabilities
Current lease
liabilities
Total
Interest-bearing liabilities as at 1 January 2024
20,511.0
4,704.8
25,215.8
Cash flows 2024
2,658.5
9,679.4
-6,128.8
6,209.1
New and changed leases 2024
7,652.8
2,532.6
10,185.4
Other non-cash movements 2024
-5,760.0
5,713.8
-46.2
Interest-bearing liabilities as at 31 Dec 2024
2,658.5
9,679.4
22,403.9
6,822.3
41,564.1
Cash flows 2025
-381.5
-7,038.2
-7,419.7
New and changed leases 2025
1,661.0
705.1
2,366.0
Other non-cash movements 2025
-2,478.5
2,478.5
-7,021.4
6,274.8
-746.6
Interest-bearing liabilities as at 31 Dec 2025
180.0
11,776.4
17,043.5
6,764.0
35,763.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-344": { "value": "
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-343": { "value": "
Financial liabilities
The Group\u2019s financial liabilities are classified as liabilities measured at amortized
cost. At initial recognition, the Group measures a financial liability at fair value less
transaction costs. Financial liabilities are subsequently classified as measured at
amortized cost using the effective interest method or measured at fair value
through profit or loss. The drawdowns of financial liabilities as well as purchases
and sales thereof are recognized in the balance sheet on the contract date of the
contract that pertains to them. A financial liability is derecognized when the
obligation specified in the contract has been fulfilled or revoked, or its validity has
discontinued. Financial liabilities are classified as non-current, if they are payable
beyond 12 months, and they are classified as current, if they are payable within 12
months.
Covenants that the Group is required to comply with, on or before the end of the
reporting period, are considered in classifying loan arrangements with covenants
as current or non-current. Covenants that the Group is required to comply with
after the reporting period do not affect the classification at the reporting date. The
Group has a covenant in its current loans stating that the gearing ratio of the
Group has to remain under 100 percent. The Group has complied with the
covenant throughout the financial year 2025 and does not expect to have
difficulty in complying with it in the following financial period. Bank account
overdraft limits in use at the end of the reporting period are included in current
loans.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-346": { "value": "
The Group\u2019s lease liabilities and trade payables are classified as liabilities
measured at amortized cost. Trade payables and other payables are classified as
current liabilities, unless the Group has an unconditional right to push back their
repayment to a point in time that is at least 12 months beyond the end of the
financial period, in which case they would be classified as non-current liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-349": { "value": "
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-348": { "value": "
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-347": { "value": "
Derivatives are included in financial liabilities measured at fair value through profit
or loss. Kempower\u2019s derivative instruments are discussed in more detail in the
Financial assets section.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-350": { "value": "
The Group categorizes its financial assets and liabilities into the following categories:
31 Dec 2025
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
28.9
28.9
28.9
Current financial assets
Trade receivables
52,489.7
52,489.7
52,489.7
Other receivables
203.4
203.4
203.4
Derivatives
361.2
361.2
361.2
361.2
Other financial assets
51,027.1
51,027.1
51,027.1
51,027.1
Cash and cash equivalents
3,886.9
3,886.9
3,886.9
Total financial assets
51,388.3
56,608.9
107,997.3
107,997.3
51,027.1
361.2
Non-current financial liabilities
Lease liabilities
17,043.5
17,043.5
17,043.5
Loans from financial institutions
180.0
180.0
180.0
Current financial liabilities
Lease liabilities
6,764.0
6,764.0
6,764.0
Loans from financial institutions
11,776.4
11,776.4
11,776.4
Trade payables
44,081.9
44,081.9
44,081.9
Derivatives
365.3
365.3
365.3
365.3
Other non-interest-bearing liabilities
138.3
138.3
138.3
Total financial liabilities
365.3
79,984.1
80,349.4
80,349.4
365.3
31 Dec 2024
EUR 1,000
Fair value through
profit or loss
Amortized cost
Carrying amount
Fair value
Level 1
Level 2
Level 3
Non-current financial assets
Non-current deposits
48.1
48.1
48.1
Current financial assets
Trade receivables
30,443.7
30,443.7
30,443.7
Other receivables
588.1
588.1
588.1
Derivatives
84.2
84.2
84.2
84.2
Other financial assets
49,223.2
49,223.2
49,223.2
49,223.2
Cash and cash equivalents
16,186.1
16,186.1
16,186.1
Total financial assets
49,307.4
47,266.1
96,573.5
96,573.5
49,223.2
84.2
Non-current financial liabilities
Lease liabilities
22,403.9
22,403.9
22,403.9
Loans from financial institutions
2,658.5
2,658.5
2,658.5
Current financial liabilities
Lease liabilities
6,822.3
6,822.3
6,822.3
Loans from financial institutions
9,679.4
9,679.4
9,679.4
Trade payables
29,665.0
29,665.0
29,665.0
Derivatives
330.3
330.3
330.3
330.3
Other non-interest-bearing liabilities
0.5
0.5
0.5
Total financial liabilities
330.3
71,229.5
71,559.8
71,559.8
330.3
31 Dec 2025
31 Dec 2025
31 Dec 2025
31 Dec 2024
31 Dec 2024
31 Dec 2024
Fair values of derivative contracts, EUR 1,000
Derivative assets
Derivative liabilities
Fair value, net
Derivative assets
Derivative liabilities
Fair value, net
Foreign currency derivatives
361.2
365.3
-4.2
84.2
330.3
-246.1
Notional principal amounts of derivative contracts, EUR 1,000
31 Dec 2025
31 Dec 2024
Foreign currency derivatives
56,457.6
37,090.8
Unused credit facilities, EUR 1,000
31 Dec 2025
31 Dec 2024
Bank overdraft facility, payable at call
Amount used
8,610.6
6,052.8
Amount unused
16,389.4
18,947.2
Green Revolving Credit Facilities, payable at call
Amount used
Amount unused
55,000.0
30,000.0
Unused credit facilities total
71,389.4
48,947.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-351": { "value": "
Changes in liabilities arising from financing activities
Liabilities from financing activities
EUR 1,000
Non-current loans
from financial
institutions
Current loans from
financial
institutions
Non-current lease
liabilities
Current lease
liabilities
Total
Interest-bearing liabilities as at 1 January 2024
20,511.0
4,704.8
25,215.8
Cash flows 2024
2,658.5
9,679.4
-6,128.8
6,209.1
New and changed leases 2024
7,652.8
2,532.6
10,185.4
Other non-cash movements 2024
-5,760.0
5,713.8
-46.2
Interest-bearing liabilities as at 31 Dec 2024
2,658.5
9,679.4
22,403.9
6,822.3
41,564.1
Cash flows 2025
-381.5
-7,038.2
-7,419.7
New and changed leases 2025
1,661.0
705.1
2,366.0
Other non-cash movements 2025
-2,478.5
2,478.5
-7,021.4
6,274.8
-746.6
Interest-bearing liabilities as at 31 Dec 2025
180.0
11,776.4
17,043.5
6,764.0
35,763.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-352": { "value": "
5.1 SHARE-BASED PAYMENTS
Accounting principles
Personnel offering
In October 2021, the Company carried out a directed share issue made in
deviation from the shareholders\u2019 pre-emptive subscription rights to engage
personnel of Kempower by issuing 5,789 new shares in a Personnel Offering. The
subscription price in the Personnel Offering was EUR 100.00 per share (before the
share issue without consideration registered on 26 November 2021, in which for
each existing share, 53 new shares were given). The members of Kempower\u2019s
personnel who participated in the Personnel Offering signed a shareholder
agreement in which they, among other things, committed to sell their shares to
the Company if their employment with Kempower ended in certain situations and
committed to a lock-up period based on which they could not sell, transfer,
donate or pledge the shares subscribed by them without a permission granted by
the Board of Directors of the Company until 31 December 2024.
Stock option program 2021
In November 2021, Kempower launched a stock option programme, the target
group of which was key employees working in Kempower\u2019s subsidiaries outside of
Finland as well as selected employees who had been employed after the
Personnel Offering. The programme aimed to foster employee commitment,
broaden the Company\u2019s ownership base and give the opportunity to Kempower\u2019s
personnel to benefit from the potential increase in the Company\u2019s value. The
number of options per employee was set so that the subscription price of the
options would not exceed the respective employee\u2019s two months\u2019 combined gross
salary. The subscription period for the stock options was between 1 January 2025
and 15 December 2025 and the subscription price was EUR 1.85 per option. In total
107,946 options were originally given. 95,252 options were exercised during the
subscription period.\u00a0
Share-based incentive programs
Share-based incentive plan 2022-2024
Kempower launched in March 2022 a share-based incentive programme for
Kempower\u2019s leadership team and key employees. The aim was to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares.
The Performance Share Plan 2022\u20132024 consisted of a three (3) year performance
period, covering the financial years of 2022\u20132024. The Board of Directors could
decide on new performance periods on a yearly basis.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan were to be paid
after the end of the performance period partly in Kempower\u2019s shares and partly in
cash to cover taxes and tax-related costs. During the performance period, the
rewards were based on the Total Shareholder Return of the Kempower share in
2022\u20132024 and Group Revenue in 2024. The value of the maximum rewards to be
paid on the targeted level corresponded to a total of approximately 130,000
Kempower\u2019s shares including also the cash proportion. However, if the targeted
performance criteria were to be significantly exceeded the ultimate maximum of
the rewards to be paid would correspond to a total of approximately 165,000
Kempower\u2019s shares. Approximately 20 persons, including the CEO and other
Kempower Extended Leadership Team members, belonged to the target group of
the performance period. The Extended Leadership Team member is obliged to
hold at least 50 percent of the shares received as a net reward from the
performance share plan, until the total value of the member\u2019s shareholding in
Kempower equals to 50 percent of their annual base salary of the preceding year.
Such number of Kempower\u2019s shares must be held as long as the membership in
the Extended Leadership Team continues.
On 8 May 2025 Kempower transferred a total of 45,286 of its own shares as the
reward for the performance period.
Share-based incentive plan 2023-2025
Kempower launched in February 2023 a share-based incentive programme for
Kempower group\u2019s key employees. The aim was to align the objectives of the
shareholders and key employees for increasing the value of the Company in the
long-term, to commit the key employees to work for the Company and to offer
them a competitive incentive scheme that was based on earning and
accumulating shares. The Performance Share Plan 2023\u20132025 consisted of a three
(3) year performance period, covering the financial years of 2023\u20132025.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period partly in Kempower\u2019s shares and partly in cash.
The cash proportion of the reward is intended for covering taxes and statutory
social security contributions arising from the rewards to the participants. In
general, no reward is paid if the participant\u2019s employment or director contract
terminates before the reward payment.
During the performance period, the rewards were based on the Total Shareholder
Return of the Kempower share in 2023\u20132025 and Group Revenue in 2023\u20132025. The
value of the maximum rewards to be paid on the targeted level corresponded to
a total of approximately 206,200 Kempower\u2019s shares including also the cash
proportion. Approximately 40 persons, including the CEO and other Kempower
Leadership Team members, belonged to the target group of the performance
period.
The Leadership Team member is obliged to hold at least 50 percent of the shares
received as a net reward from the performance share plan, until the total value of
the member\u2019s shareholding in Kempower equals to 50 percent of their annual
base salary of the preceding year. Such number of Kempower\u2019s shares must be
held as long as the membership in the Leadership Team continues.
Kempower expects to transfer approximately 30,000 shares as the reward for the
performance period during the first half of 2026.
Employee share savings plans
In February 2023 The Board of Directors of Kempower decided to establish an
Employee Share Savings Plan (ESSP) for the employees of Kempower and its
subsidiaries. The aim of the ESSP is to encourage employees to acquire and own
Kempower shares, and it is intended to align the interests of the shareholders and
the employees as well as to increase employees\u2019 motivation and long-term
commitment to the Company.
The ESSP consists of annually commencing plan periods, each one comprising of
a 12-month savings period and a holding period following the savings period. The
ESSP is offered to all Kempower employees in countries where there are no legal or
administrative constraints for participation. The employees will have an
opportunity to save a proportion of their salaries and an extra bonus and invest
those savings in Kempower shares. The savings will be used for acquiring
Kempower shares quarterly after the publication dates of the respective interim
reports. As a reward for the commitment, Kempower grants the participating
employees a gross award of one matching share for every two (2) savings shares
acquired with their savings. Continuity of employment and holding of acquired
savings shares for the duration of the holding period are the prerequisites for
receiving the award.
The potential award will be settled in shares, or partly in shares and partly in cash,
after the end of the holding period. The cash proportion is intended to cover taxes
and tax-related costs arising from the award in those countries where the
employer has the obligation to withhold taxes. Matching shares will be freely
transferable after their registration on the participant\u2019s book-entry account. Any
dividends to be paid on the acquired savings shares, the matching shares given
within the ESSP, and any other shares received within the ESSP will be reinvested in
additional shares on the next potential acquisition date. These shares will have an
equal right to matching shares.
Participation in the ESSP is voluntary and the employees will be invited to
participate in one plan period at a time. The first savings period commenced on
1 April 2023 and ended on 31 March 2024. The holding period of the first plan period
began at the first acquisition of savings shares and ends on 31 March 2026. The
estimated maximum expense for the first plan period is approximately EUR 1,3
million. The final expense depends on the employees\u2019 participation and savings
rate in the plan, and the fulfillment of the prerequisites for receiving matching
shares, as well as the number of shares acquired from the market with savings.
New plans have been established for period 2024\u20142027, which commenced on 1
April 2024 and ended on 31 March 2025, period 2025\u20142028, which commenced on
1 April 2025 and ends on 31 March 2026 and for period 2026\u20142029, which
commenced on 1 April 2026 and ends on 31 March 2027.
In addition, Kempower has established a Synthetic Share Unit Plan which is a
synthetic cash-based version of the Employee Share Savings Plan for Kempower
employees in certain countries where the regular plan is not feasible.
Share-based incentive plan 2024-2026
In December 2023 the Board of Directors of Kempower resolved to establish a
Performance Share Plan for the Group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares. The Performance Share Plan 2024\u20132026
consists of a three (3) year performance period, covering the financial years of
2024\u20132026.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2024\u20132026, Group Revenue in
2024-2026 and CO2 emission reduction per Revenue in 2024-2026. Growing
revenue together with a growing order intake indicates that there are more EV
charging infrastructure units installed to help the growth of more sustainable
transportation and the resultant moving away from fossil fuels, and the therefore
lowering of the CO2 emissions in transportation in general. The value of the
maximum rewards to be paid will correspond to a total of approximately 219,400
Kempower\u2019s shares including also the cash proportion. Approximately 50 persons,
including the CEO and other Kempower Leadership Team members, belong to the
target group of the performance period.
Restricted Share Unit Plan 2024-2027
In December 2023 the Board of Directors of Kempower resolved to establish a
Restricted Share Unit Plan for selected key employees of the Group. The purpose
of the plan is to align the interests of the Company\u2019s shareholders and key
employees to increase the Company\u2019s value in the long-term, to commit key
employees at the Company and to offer them a competitive incentive plan
based on receiving the Company\u2019s shares. The plan is intended to be used as a
tool in situations seen necessary by the Board of Directors, for example ensuring
retention of key talents to the Company, attracting a new talent or other specific
situations determined by the Board of Directors.
The Board of Directors may allocate rewards from the Restricted Share Unit Plan
2024\u20132027 during financial years 2024\u20132027.
The rewards will be paid by the end of May 2027, 2028, 2029, 2030 or 2031, but
always so that there is at least three (3) years between the determination of the
reward and the payment of the reward. The reward is based on a valid
employment or director contract and on the continuity of the employment or
service.
Share-based incentive plan 2025-2027
In February 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
company in the long term, to commit the key employees to work for the company
and to offer them a competitive incentive scheme that is based on earning and
accumulating shares. The Performance Share Plan 2025\u20132027 consists of a three
(3) year performance period, covering the financial years of 2025\u20132027.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2025\u20132027, Group Revenue in
2025\u20132027 and CO2 emission reduction per Revenue in 2025\u20132027. The value of
the maximum rewards to be paid will correspond to a total of approximately
675,000 Kempower\u2019s shares including also the cash proportion.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.
Share-based incentive plan 2026-2028
In December 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s selected target group. The aim is to align
the objectives of the shareholders and the individuals within the selected target
group for increasing the value of the company in the long term, to commit these
individuals to work for the company and to offer them a competitive incentive
scheme that is based on earning and accumulating shares. The Performance
Share Plan 2026\u20132028 consists of a three (3) year performance period, covering
the financial years of 2026\u20132028.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2026\u20132028, Group Revenue
in 2028 and CO2 emission reduction per Revenue in 2028. The value of the
maximum rewards to be paid will correspond to a total of approximately
644,670 Kempower\u2019s shares including also the cash proportion. The estimated
maximum expense for the performance period 2026\u20132028, based on
Kempower\u2019s share value in December 2025, is EUR 9,109,000 in total.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.\u00a0 \u00a0
Recognition of share and option arrangements
The benefits granted in share and stock option arrangements are measured at
fair value at the time of their granting and are recognized as an expense in the
income statement for the period during which the entitlement arises. The terms
and conditions based on performance of service are not considered at the fair
value of the benefit on the date of its granting; instead, their actual outcomes are
assessed, and they are considered by adjusting both the number of those equity
instruments to which an entitlement is expected to arise and the amount thereby
to be recognized as expense. An expense will be recognized cumulatively only with
respect to those instruments granted to which an entitlement arises. The profit
and loss effect of share and stock option arrangements is presented in personnel
expenses, and the corresponding increase is presented in equity. When an
arrangement has a net-settlement feature the arrangement is classified in its
entirety as an equity-settled share-based payment.
The expense determined at the time when the shares and stock options were
granted is based on the Group\u2019s estimate of the number of those shares and
stock options to which an entitlement is expected to arise during the earning
period. The Group annually updates the assumption on the ultimate number of
shares and stock options. The changes in valuations are treated as profit or loss.
The fair value of the stock option arrangements is determined based on the Black-
Scholes option pricing model. When stock options are exercised, the funds gained
from share subscriptions are recognized in the invested unrestricted equity fund.
Shares are measured at fair value at the share price of the date of their granting.
The Monte Carlo simulation is used to determine the fair value of such share
arrangements, which include the Total Shareholder Return as an earning criterion.
Cash-settled share-based payments are recognized as liabilities. The liability is
measured at fair value at each reporting date and at settlement. Changes in fair
value are recognized in profit or loss during the vesting period until settlement.
In the share purchase arrangement, the personnel were granted an entitlement
to subscribe shares at a reduced price. The shares subscribed have been
measured at fair value applying the share price of the date of their granting, and
the difference between the subscription price and the fair value was recognized
as an expense for the earning period of the benefit.
Critical accounting judgements:
The Group recognizes the costs related to share-based payments in the income
statement. In connection with share options, the Group\u2019s management makes
estimates related to aspects of the option pricing model, such as expected
volatility, the estimated number of options, and the expected option exercise date.
In connection with share-based incentive plans the Group\u2019s management makes
estimates on the number of shares likely to be granted.
Plan
Directed share
issue to personnel*
Stock Options 2021*
Share-based
incentive plan
2022\u20132024
Share-based
incentive plan
2023\u20132025
Share-based
incentive plan
2024\u20132026
Restricted Share
Unit Plan\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
2024\u20132027
Share-based
incentive plan
2025\u20132027
Employee Share
Savings Plans**
Synthetic Share
Unit Plans***
Type
Share
Option
Share
Share
Share
Share
Share
Share
Cash
Initial amount, pcs
540,000
108,000
165,000
206,200
219,400
120,000
675,000
230,980
Initial amount, EUR
1,300,000
The subscription ratio for underlying shares, pcs
1
Initial excercise price, EUR*
1.8519
1.85
Dividend adjustment
No
Yes
No
No
No
No
No
No
No
Current exercise price, EUR
1.85
Grant dates
26 Nov 2021
19 Nov 2021
1 Apr 2022
1 Apr 2023
30 Apr 2024
16 Dec 2024
21 Mar 2025
1 April 2023, 2024
and 2025
1 Dec 2023 and 1 Apr
2024
Performance period start date
1 Jan 2022
1 Jan 2023
1 Jan 2024
1 Jan 2025
Performance period end date
31 Dec 2024
31 Dec 2025
31 Dec 2026
31 Dec 2027
Vesting date
31 Dec 2024
31 Dec 2024
31 May 2025
31 May 2026
31 May 2027
31 May 2028
31 May 2028
31 Mar 2026, 2027
and 2028
31 Mar 2026 and
2027
Maturity date
15 Dec 2025
Vesting conditions
Employment
Employment
Total Shareholder
Return during
performance
period, Group
Revenue 2024,
Employment
Total Shareholder
Return during
performance
period, Group
Revenue 2023-2025,
Employment
Total Shareholder
Return during
performance
period, Group
Revenue in 2024\u2013
2026, CO2 emission
reduction,
Employment
Employment
Total Shareholder
Return during
performance
period, Group
Revenue in 2025,
2026 and 2027, CO 2
emission reduction,
Employment
Share Ownership,
Employment
Synthetic Share Unit
Ownership,
Employment
Number of persons at 31 Dec 2025
76
25
20
34
44
9
49
233-454
4-5
* The initial amount for Directed share issue to personnel and Stock Options 2021 has been adjusted by the share split carried out in November 2021.
** The initial amount is the estimated maximum amount or expense of the first plan period. The final amount or expense depends on the employees\u2019 participation and savings rate in the plans, and the fulfilment of the prerequisites for receiving matching shares, as well as the number of
shares acquired from the market with the savings.
*** The Synthetic Share Unit Plans are synthetic cash based version of the Empoyee Share Savings Plans for Kempower employees in certain countries where the regular plans are not feasible. The final amount or expense depends on the employees\u2019 participation and savings rate in the
plan, and the fulfilment of the prerequisites for receiving matching share units, as well as the development of the share price.
Changes during the period by plan type
Stock Options
2021
Share-based
incentive plans
Restricted Share
Unit Plans
Employee Share
Savings Plans
Synthetic Share
Unit Plans
Total
Outstanding at 1 Jan 2024
101,466
308,100
11,872
421,438
Granted
196,000
7,000
34,224
1,176
238,399
Forfeited
1,944
18,800
832
21,576
Exercised
Outstanding at 31 Dec 2024
99,522
485,300
7,000
45,264
1,176
638,261
Outstanding at 1 Jan 2025
99,522
485,300
7,000
45,264
1,176
638,261
Granted
648,250
99,709
23,171
200
771,330
Forfeited
120,301
8,000
1,590
1
129,892
Exercised
95,252
74,560
863
170,675
Weighted average share price during the subscription period, EUR
13.5
Expired
4,270
41,940
46,210
Outstanding at 31 Dec 2025
896,749
98,709
66,845
511
1,062,814
Fair value determination for instruments granted during the period
Share-based
incentive plan
2024\u20132026
Share-based
incentive plan
2025\u20132027
Restricted Share
Unit Plan\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
2024\u20132027
Employee Share
Savings Plan
2024\u20132027
Employee Share
Savings Plan
2025\u20132028
Synthetic Share
Unit Plan\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
2024\u20132027
Share price at grant date, EUR
12.13
12.34
11.52
11.59
17.51
12.23
Share price at 31 Dec 2025, EUR
15.27
15.27
15.27
15.27
15.27
15.27
Expected dividends, EUR
Additional Monte Carlo simulation parameters
Exercise price, EUR
Expected volatility*
62.37%
60.23%
Maturity, years
1.9
2.8
3.1
2
2.6
2.1
Risk-free rate
2.40%
2.19%
Valuation model
Monte Carlo
simulation with
Geometric
Brownian Motion
Monte Carlo
simulation with
Geometric
Brownian Motion
Fair value for the market based portion, EUR
2.39
8.19
* Expected volatility was determined by using annualized daily return volatilities of Company shares.
The impact of share-based plans on Group\u2019s profit/loss for 2025 was EUR -2,390.2 thousand\u00a0 (EUR -2,295.5 thousand).
Estimated future cash payment to be paid to the tax authorities from share-based payments was EUR 4,118.0 thousand at the
end of the financial year 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-353": { "value": "
Accounting principles
Personnel offering
In October 2021, the Company carried out a directed share issue made in
deviation from the shareholders\u2019 pre-emptive subscription rights to engage
personnel of Kempower by issuing 5,789 new shares in a Personnel Offering. The
subscription price in the Personnel Offering was EUR 100.00 per share (before the
share issue without consideration registered on 26 November 2021, in which for
each existing share, 53 new shares were given). The members of Kempower\u2019s
personnel who participated in the Personnel Offering signed a shareholder
agreement in which they, among other things, committed to sell their shares to
the Company if their employment with Kempower ended in certain situations and
committed to a lock-up period based on which they could not sell, transfer,
donate or pledge the shares subscribed by them without a permission granted by
the Board of Directors of the Company until 31 December 2024.
Stock option program 2021
In November 2021, Kempower launched a stock option programme, the target
group of which was key employees working in Kempower\u2019s subsidiaries outside of
Finland as well as selected employees who had been employed after the
Personnel Offering. The programme aimed to foster employee commitment,
broaden the Company\u2019s ownership base and give the opportunity to Kempower\u2019s
personnel to benefit from the potential increase in the Company\u2019s value. The
number of options per employee was set so that the subscription price of the
options would not exceed the respective employee\u2019s two months\u2019 combined gross
salary. The subscription period for the stock options was between 1 January 2025
and 15 December 2025 and the subscription price was EUR 1.85 per option. In total
107,946 options were originally given. 95,252 options were exercised during the
subscription period.\u00a0
Share-based incentive programs
Share-based incentive plan 2022-2024
Kempower launched in March 2022 a share-based incentive programme for
Kempower\u2019s leadership team and key employees. The aim was to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares.
The Performance Share Plan 2022\u20132024 consisted of a three (3) year performance
period, covering the financial years of 2022\u20132024. The Board of Directors could
decide on new performance periods on a yearly basis.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan were to be paid
after the end of the performance period partly in Kempower\u2019s shares and partly in
cash to cover taxes and tax-related costs. During the performance period, the
rewards were based on the Total Shareholder Return of the Kempower share in
2022\u20132024 and Group Revenue in 2024. The value of the maximum rewards to be
paid on the targeted level corresponded to a total of approximately 130,000
Kempower\u2019s shares including also the cash proportion. However, if the targeted
performance criteria were to be significantly exceeded the ultimate maximum of
the rewards to be paid would correspond to a total of approximately 165,000
Kempower\u2019s shares. Approximately 20 persons, including the CEO and other
Kempower Extended Leadership Team members, belonged to the target group of
the performance period. The Extended Leadership Team member is obliged to
hold at least 50 percent of the shares received as a net reward from the
performance share plan, until the total value of the member\u2019s shareholding in
Kempower equals to 50 percent of their annual base salary of the preceding year.
Such number of Kempower\u2019s shares must be held as long as the membership in
the Extended Leadership Team continues.
On 8 May 2025 Kempower transferred a total of 45,286 of its own shares as the
reward for the performance period.
Share-based incentive plan 2023-2025
Kempower launched in February 2023 a share-based incentive programme for
Kempower group\u2019s key employees. The aim was to align the objectives of the
shareholders and key employees for increasing the value of the Company in the
long-term, to commit the key employees to work for the Company and to offer
them a competitive incentive scheme that was based on earning and
accumulating shares. The Performance Share Plan 2023\u20132025 consisted of a three
(3) year performance period, covering the financial years of 2023\u20132025.
In the plan, the target group was given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period partly in Kempower\u2019s shares and partly in cash.
The cash proportion of the reward is intended for covering taxes and statutory
social security contributions arising from the rewards to the participants. In
general, no reward is paid if the participant\u2019s employment or director contract
terminates before the reward payment.
During the performance period, the rewards were based on the Total Shareholder
Return of the Kempower share in 2023\u20132025 and Group Revenue in 2023\u20132025. The
value of the maximum rewards to be paid on the targeted level corresponded to
a total of approximately 206,200 Kempower\u2019s shares including also the cash
proportion. Approximately 40 persons, including the CEO and other Kempower
Leadership Team members, belonged to the target group of the performance
period.
The Leadership Team member is obliged to hold at least 50 percent of the shares
received as a net reward from the performance share plan, until the total value of
the member\u2019s shareholding in Kempower equals to 50 percent of their annual
base salary of the preceding year. Such number of Kempower\u2019s shares must be
held as long as the membership in the Leadership Team continues.
Kempower expects to transfer approximately 30,000 shares as the reward for the
performance period during the first half of 2026.
Employee share savings plans
In February 2023 The Board of Directors of Kempower decided to establish an
Employee Share Savings Plan (ESSP) for the employees of Kempower and its
subsidiaries. The aim of the ESSP is to encourage employees to acquire and own
Kempower shares, and it is intended to align the interests of the shareholders and
the employees as well as to increase employees\u2019 motivation and long-term
commitment to the Company.
The ESSP consists of annually commencing plan periods, each one comprising of
a 12-month savings period and a holding period following the savings period. The
ESSP is offered to all Kempower employees in countries where there are no legal or
administrative constraints for participation. The employees will have an
opportunity to save a proportion of their salaries and an extra bonus and invest
those savings in Kempower shares. The savings will be used for acquiring
Kempower shares quarterly after the publication dates of the respective interim
reports. As a reward for the commitment, Kempower grants the participating
employees a gross award of one matching share for every two (2) savings shares
acquired with their savings. Continuity of employment and holding of acquired
savings shares for the duration of the holding period are the prerequisites for
receiving the award.
The potential award will be settled in shares, or partly in shares and partly in cash,
after the end of the holding period. The cash proportion is intended to cover taxes
and tax-related costs arising from the award in those countries where the
employer has the obligation to withhold taxes. Matching shares will be freely
transferable after their registration on the participant\u2019s book-entry account. Any
dividends to be paid on the acquired savings shares, the matching shares given
within the ESSP, and any other shares received within the ESSP will be reinvested in
additional shares on the next potential acquisition date. These shares will have an
equal right to matching shares.
Participation in the ESSP is voluntary and the employees will be invited to
participate in one plan period at a time. The first savings period commenced on
1 April 2023 and ended on 31 March 2024. The holding period of the first plan period
began at the first acquisition of savings shares and ends on 31 March 2026. The
estimated maximum expense for the first plan period is approximately EUR 1,3
million. The final expense depends on the employees\u2019 participation and savings
rate in the plan, and the fulfillment of the prerequisites for receiving matching
shares, as well as the number of shares acquired from the market with savings.
New plans have been established for period 2024\u20142027, which commenced on 1
April 2024 and ended on 31 March 2025, period 2025\u20142028, which commenced on
1 April 2025 and ends on 31 March 2026 and for period 2026\u20142029, which
commenced on 1 April 2026 and ends on 31 March 2027.
In addition, Kempower has established a Synthetic Share Unit Plan which is a
synthetic cash-based version of the Employee Share Savings Plan for Kempower
employees in certain countries where the regular plan is not feasible.
Share-based incentive plan 2024-2026
In December 2023 the Board of Directors of Kempower resolved to establish a
Performance Share Plan for the Group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
Company in the long-term, to commit the key employees to work for the
Company and to offer them a competitive incentive scheme that is based on
earning and accumulating shares. The Performance Share Plan 2024\u20132026
consists of a three (3) year performance period, covering the financial years of
2024\u20132026.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2024\u20132026, Group Revenue in
2024-2026 and CO2 emission reduction per Revenue in 2024-2026. Growing
revenue together with a growing order intake indicates that there are more EV
charging infrastructure units installed to help the growth of more sustainable
transportation and the resultant moving away from fossil fuels, and the therefore
lowering of the CO2 emissions in transportation in general. The value of the
maximum rewards to be paid will correspond to a total of approximately 219,400
Kempower\u2019s shares including also the cash proportion. Approximately 50 persons,
including the CEO and other Kempower Leadership Team members, belong to the
target group of the performance period.
Restricted Share Unit Plan 2024-2027
In December 2023 the Board of Directors of Kempower resolved to establish a
Restricted Share Unit Plan for selected key employees of the Group. The purpose
of the plan is to align the interests of the Company\u2019s shareholders and key
employees to increase the Company\u2019s value in the long-term, to commit key
employees at the Company and to offer them a competitive incentive plan
based on receiving the Company\u2019s shares. The plan is intended to be used as a
tool in situations seen necessary by the Board of Directors, for example ensuring
retention of key talents to the Company, attracting a new talent or other specific
situations determined by the Board of Directors.
The Board of Directors may allocate rewards from the Restricted Share Unit Plan
2024\u20132027 during financial years 2024\u20132027.
The rewards will be paid by the end of May 2027, 2028, 2029, 2030 or 2031, but
always so that there is at least three (3) years between the determination of the
reward and the payment of the reward. The reward is based on a valid
employment or director contract and on the continuity of the employment or
service.
Share-based incentive plan 2025-2027
In February 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s key employees. The aim is to align the
objectives of the shareholders and key employees for increasing the value of the
company in the long term, to commit the key employees to work for the company
and to offer them a competitive incentive scheme that is based on earning and
accumulating shares. The Performance Share Plan 2025\u20132027 consists of a three
(3) year performance period, covering the financial years of 2025\u20132027.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2025\u20132027, Group Revenue in
2025\u20132027 and CO2 emission reduction per Revenue in 2025\u20132027. The value of
the maximum rewards to be paid will correspond to a total of approximately
675,000 Kempower\u2019s shares including also the cash proportion.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.
Share-based incentive plan 2026-2028
In December 2025 the Board of Directors of Kempower has resolved to establish a
Performance Share Plan for the group\u2019s selected target group. The aim is to align
the objectives of the shareholders and the individuals within the selected target
group for increasing the value of the company in the long term, to commit these
individuals to work for the company and to offer them a competitive incentive
scheme that is based on earning and accumulating shares. The Performance
Share Plan 2026\u20132028 consists of a three (3) year performance period, covering
the financial years of 2026\u20132028.
In the plan, the target group is given an opportunity to earn Kempower\u2019s shares
based on performance. The potential rewards based on the plan will be paid after
the end of the performance period. The reward will be paid partly in Kempower\u2019s
shares and partly in cash, which is used to cover income taxes and social
charges.
During the performance period, the rewards are based on the Absolute Total
Shareholder Return (TSR) of the Kempower share in 2026\u20132028, Group Revenue
in 2028 and CO2 emission reduction per Revenue in 2028. The value of the
maximum rewards to be paid will correspond to a total of approximately
644,670 Kempower\u2019s shares including also the cash proportion. The estimated
maximum expense for the performance period 2026\u20132028, based on
Kempower\u2019s share value in December 2025, is EUR 9,109,000 in total.
Approximately 50 persons, including the CEO and other Kempower Leadership
Team members, belong to the target group of the performance period.\u00a0 \u00a0
Recognition of share and option arrangements
The benefits granted in share and stock option arrangements are measured at
fair value at the time of their granting and are recognized as an expense in the
income statement for the period during which the entitlement arises. The terms
and conditions based on performance of service are not considered at the fair
value of the benefit on the date of its granting; instead, their actual outcomes are
assessed, and they are considered by adjusting both the number of those equity
instruments to which an entitlement is expected to arise and the amount thereby
to be recognized as expense. An expense will be recognized cumulatively only with
respect to those instruments granted to which an entitlement arises. The profit
and loss effect of share and stock option arrangements is presented in personnel
expenses, and the corresponding increase is presented in equity. When an
arrangement has a net-settlement feature the arrangement is classified in its
entirety as an equity-settled share-based payment.
The expense determined at the time when the shares and stock options were
granted is based on the Group\u2019s estimate of the number of those shares and
stock options to which an entitlement is expected to arise during the earning
period. The Group annually updates the assumption on the ultimate number of
shares and stock options. The changes in valuations are treated as profit or loss.
The fair value of the stock option arrangements is determined based on the Black-
Scholes option pricing model. When stock options are exercised, the funds gained
from share subscriptions are recognized in the invested unrestricted equity fund.
Shares are measured at fair value at the share price of the date of their granting.
The Monte Carlo simulation is used to determine the fair value of such share
arrangements, which include the Total Shareholder Return as an earning criterion.
Cash-settled share-based payments are recognized as liabilities. The liability is
measured at fair value at each reporting date and at settlement. Changes in fair
value are recognized in profit or loss during the vesting period until settlement.
In the share purchase arrangement, the personnel were granted an entitlement
to subscribe shares at a reduced price. The shares subscribed have been
measured at fair value applying the share price of the date of their granting, and
the difference between the subscription price and the fair value was recognized
as an expense for the earning period of the benefit.
Critical accounting judgements:
The Group recognizes the costs related to share-based payments in the income
statement. In connection with share options, the Group\u2019s management makes
estimates related to aspects of the option pricing model, such as expected
volatility, the estimated number of options, and the expected option exercise date.
In connection with share-based incentive plans the Group\u2019s management makes
estimates on the number of shares likely to be granted.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-354": { "value": "
5.2 RELATED PARTY TRANSACTIONS
Accounting principles
The parties are considered to be related parties if the other party is able to
exercise control or significant influence or joint control over the other party in
decision making concerning its finances or business.
Kempower\u2019s related parties include its subsidiaries and parent company Kemppi
Group Oy and its subsidiaries other than Kempower Group companies. Related
parties also include the members of Kempower\u2019s Board of Directors, CEO and the
members of the Global Leadership Team as well as their close family members
and companies under their significant influence or control. Kempower\u2019s related
parties also include the members of Kemppi Group Oy\u2019s Board of Directors and
their close family members and companies under their significant influence or
control.
Business transactions between Kempower and Kemppi Group are presented as
related party transactions. Such related party transactions include purchases of
materials from Kemptron Oy and Kemppi Oy, purchases of administration services
from Kemppi Group companies and premises leased from Kemppi Group
companies. Commitments related to future purchases from Kemptron Oy have
also been included in related party transactions.
Kempower\u2019s headquarters and production facilities are located in rental
properties. The headquarters and the connected production facilities in Lahti have
been leased from Kemppi Group Oy until 2031.
Compensation of the members of the Board of Directors
EUR 1,000
2025
2024
Vesa Laisi, Chair
112.7
98.1
Antti Kemppi, Vice Chair
87.7
81.3
Teresa Kemppi-Vasama, Member
67.7
63.8
Olli Laur\u00e9n, Member
73.3
75.4
Tuula Rytil\u00e4, Member
74.8
66.3
Eriikka S\u00f6derstr\u00f6m, Member
77.7
72.0
Barbara Thierart-Perrin, Member (8 Jul 2024 onwards)
69.1
34.9
Michael Hajesch, Member (7 May 2025 onwards)
44.9
Tero Era, Member (until 27 Mar 2024)
11.8
Kimmo Kemppi, Member (until 27 Mar 2024)
11.8
Total
607.8
515.2
Compensation paid to the CEO and to the members of
the\u00a0Leadership Team
EUR 1,000
CEO
2 Jun 2025
onwards
CEO until
1\u00a0Jun 2025
***
Leadership
team
Total
2025
Salaries and other short-term
employee benefits*
375.6
295.7
1,811.5
2,482.8
Post-employment benefits
65.3
63.5
230.9
359.8
Termination benefits
171.0
104.0
275.0
Share-based payments**
156.2
233.4
385.0
774.6
Total
597.1
763.7
2,531.4
3,892.2
2024
CEO
Leadership
team
Total
Salaries and other short-term
employee benefits
477.6
1,544.1
2,021.7
Post-employment benefits
89.3
226.9
316.2
Termination benefits
589.1
589.1
Share-based payments**
123.2
325.1
448.3
Total
690.1
2,685.2
3,375.3
*Includes paid share-based incentives
**Based on reported IFRS 2 expenses
***Benefits amounting to EUR 350.1 thousand, payable to the CEO until 1 June 2025, will be
paid during 2026
Related party transactions
EUR 1,000
2025
2024
Sales and purchases of goods and services to and
from Kemppi Group companies
Products sold
3,084.0
4,150.4
Purchased materials
-29,412.0
-26,625.2
Purchased administration and support services
-97.5
-79.1
Office and facility lease
-1,854.8
-1,863.2
Sales and purchases of goods and services to and
from other related parties
Products sold
4.8
Purchased services
-579.1
-41.9
EUR 1,000
31 Dec 2025
31 Dec 2024
Outstanding balances with Kemppi Group
companies
Trade and other receivables
29.1
403.4
Total current receivables
29.1
403.4
Lease liabilities
8,768.7
10,278.1
Total non-current liabilities
8,768.7
10,278.1
Lease liabilities
1,629.2
1,569.5
Trade payables
11,795.1
7,283.8
Prepaid expenses and accrued income and other
liabilities
412.8
67.4
Total current liabilities
13,837.1
8,920.8
Commitments to Kemppi Group companies
Purchase commitments to Kemppi Group
companies
6,507.0
3,289.0
Total commitments
6,507.0
3,289.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-355": { "value": "
Accounting principles
The parties are considered to be related parties if the other party is able to
exercise control or significant influence or joint control over the other party in
decision making concerning its finances or business.
Kempower\u2019s related parties include its subsidiaries and parent company Kemppi
Group Oy and its subsidiaries other than Kempower Group companies. Related
parties also include the members of Kempower\u2019s Board of Directors, CEO and the
members of the Global Leadership Team as well as their close family members
and companies under their significant influence or control. Kempower\u2019s related
parties also include the members of Kemppi Group Oy\u2019s Board of Directors and
their close family members and companies under their significant influence or
control.
Business transactions between Kempower and Kemppi Group are presented as
related party transactions. Such related party transactions include purchases of
materials from Kemptron Oy and Kemppi Oy, purchases of administration services
from Kemppi Group companies and premises leased from Kemppi Group
companies. Commitments related to future purchases from Kemptron Oy have
also been included in related party transactions.
Kempower\u2019s headquarters and production facilities are located in rental
properties. The headquarters and the connected production facilities in Lahti have
been leased from Kemppi Group Oy until 2031.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-356": { "value": "
Compensation of the members of the Board of Directors
EUR 1,000
2025
2024
Vesa Laisi, Chair
112.7
98.1
Antti Kemppi, Vice Chair
87.7
81.3
Teresa Kemppi-Vasama, Member
67.7
63.8
Olli Laur\u00e9n, Member
73.3
75.4
Tuula Rytil\u00e4, Member
74.8
66.3
Eriikka S\u00f6derstr\u00f6m, Member
77.7
72.0
Barbara Thierart-Perrin, Member (8 Jul 2024 onwards)
69.1
34.9
Michael Hajesch, Member (7 May 2025 onwards)
44.9
Tero Era, Member (until 27 Mar 2024)
11.8
Kimmo Kemppi, Member (until 27 Mar 2024)
11.8
Total
607.8
515.2
Compensation paid to the CEO and to the members of
the\u00a0Leadership Team
EUR 1,000
CEO
2 Jun 2025
onwards
CEO until
1\u00a0Jun 2025
***
Leadership
team
Total
2025
Salaries and other short-term
employee benefits*
375.6
295.7
1,811.5
2,482.8
Post-employment benefits
65.3
63.5
230.9
359.8
Termination benefits
171.0
104.0
275.0
Share-based payments**
156.2
233.4
385.0
774.6
Total
597.1
763.7
2,531.4
3,892.2
2024
CEO
Leadership
team
Total
Salaries and other short-term
employee benefits
477.6
1,544.1
2,021.7
Post-employment benefits
89.3
226.9
316.2
Termination benefits
589.1
589.1
Share-based payments**
123.2
325.1
448.3
Total
690.1
2,685.2
3,375.3
*Includes paid share-based incentives
**Based on reported IFRS 2 expenses
***Benefits amounting to EUR 350.1 thousand, payable to the CEO until 1 June 2025, will be
paid during 2026
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-357": { "value": "
5.3 COMMITMENTS
Kempower has entered into certain binding purchase agreements to
ensure the availability of components.
EUR 1,000
2025
2024
Purchase commitments to Kemppi Group
companies
6,507.0
3,289.0
Purchase commitments to other companies
16,236.8
23,823.0
Guarantees given on own behalf
2,718.5
2,118.7
Commitments total
25,462.3
29,230.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-358": { "value": "
5.4 GROUP STRUCTURE
Company name
Domicile
Ownership,
%
Kempower AB
Sollentuna, Sweden
100%
Kempower AS
Nannestad, Norway
100%
Kempower Australia Pty Limited
Sydney, Australia
100%
Kempower B.V.
Amsterdam, Netherlands
100%
Kempower Canada Inc.
Toronto, Ontario, Canada
100%
Kempower Charging Limited
Bedford, the United Kingdom
100%
Kempower Charging Spain S.L.U.
Barcelona, Spain
100%
Kempower Denmark ApS
Frederiksberg, Denmark
100%
Kempower GmbH
Bergisch Gladbach, Germany
100%
Kempower Inc.
Durham, North Carolina, the
United States
100%
Kempower International Oy*
Lahti, Finland
100%
Kempower Italy S.R.L
Milan, Italy
100%
Kempower Malaysia SDN. BHD.
Kuala Lumpur, Malaysia
100%
Kempower SAS
Paris, France
100%
Kempower SP Z.o.o.
Warsaw, Poland
100%
*Kempower International Oy includes the following branches: Podru\u017enica Zagreb (Zagreb,
Croatia), Kempower - Belgium branch (Brussels, Belgium), Zweigniederlassung \u00d6sterreich
(Vienna, Austria)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-359": { "value": "
5.5 EVENTS AFTER REPORTING DATE
No material events have occurred in the Group after the balance sheet
date that would affect the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-360": { "value": "Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-361": { "value": "Finland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-362": { "value": "Finland", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:743700EIG9TDB5QNZS09", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }