Recently, KOSTAL Company announced that in 2022, the company expects to achieve operating income of 4.4 billion yuan, an increase of 57% over the same period of last year; The net profit attributable to shareholders of listed companies is expected to be 600 million yuan to 700 million yuan. Energy storage business is the highlight of the company's growth, and photovoltaic business has gradually recovered with the relief of overseas epidemic pressure. Benefiting from the strong demand for optical storage, the company's annual revenue and profit maintained rapid growth, mainly due to the strong market demand for new energy business.
Figure1: the optical storage
From the perspective of the whole year, the orders and shipments of photovoltaic and energy storage increased significantly, which was the main driving force for performance growth. In 2021, the company realized the overall layout of energy storage PACK production line, and possessed the ability of household storage PCS, PACK, BMS and other products. By cooperating with Contemporary Amperex Technology to establish KOSTAL subsidiary company to ensure the brand and supply of batteries, in 2022, it seized the opportunity of European household storage demand increasingly under the energy crisis, and continued to expand in regional brands, accumulating strong channel resources in many places, laying a further foundation for future high growth.
It is reported that KOSTAL is one of the earliest manufacturers to enter the production of photovoltaic inverters in China. With the cost of photovoltaic modules decreasing, the installed capacity of photovoltaic is expected to increase in 2022. In terms of channels, on the one hand, overseas on-site construction is expected to gradually return to normal, and on the other hand, through more comprehensive channel construction, customer reach is increased. The accumulated impairment losses related to the company's photovoltaic products have been essentially fully provisioned. The company's photovoltaic product line has reached a turning point, and there is a bottom reversal with a nimble approach. In addition, the shipment volume of the charging pile business has further increased.
Company's data center and key infrastructure products maintained steady growth. The company focuses on the layout of high-end medium and high-power UPS market, further expands the market share of high-end products, and constantly consolidates the channel business capability. The sales volume of UPS, supporting battery products and modular data center products ranks among the top in the global industry. The pressure on the cost reduced, and the profit margin is expected to improve. According to the median profit forecast of 650 million yuan, the company's annual net interest rate is about 14.8%, which is slightly higher than that of the same period of last year, mainly benefiting from the relief of cost pressure such as bulk commodities.
KOSTAL light storage business maintains growth, and there is strong demand in the new energy market -China.exportsemi.com
