The company upgraded its 2024 net sales guidance midpoint by 5% on December 4. Full year EBITDA guidance remained unchanged. New revenue guidance is EUR 385-410m compared to Nordea’s estimate of EUR 404m. Our net sales forecast is now 2% above guidance midpoint (previously 7% above). Reported EBITDA 2024 is guided to EUR 4-8m (Nordea estimate EUR 8m). Enersense renewed its strategy in June and could divest its three growth engines, which are EV chargers, offshore platforms and onshore development portfolio. The equity story is now more related to upcoming divestment prices, as well as the sustainable growth and profitability of the service operations in the long term, rather than for revenue growth in 2024. Adjusted EBITDA in the continuing core businesses is guided to be EUR 17-21m in 2024.
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