Allego(ALLG)

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Allego(ALLG) - 2023 Q3 - Quarterly Report
2023-11-27 16:00
Financial Performance - Total revenue from contracts with customers for Q3 2023 was €28.607 million, a 28.4% increase from €22.320 million in Q3 2022[3] - Gross profit for Q3 2023 was €5.403 million, compared to a gross loss of €4.566 million in Q3 2022[3] - Operating loss for the nine months ended September 30, 2023, was €57.015 million, significantly improved from €278.345 million in the same period of 2022[3] - Loss for the period for Q3 2023 was €43.118 million, compared to €21.498 million in Q3 2022, indicating a 100.5% increase in losses year-over-year[6] - Total comprehensive loss for Q3 2023 was €38.483 million, compared to €24.326 million in Q3 2022[6] - For the nine months ended September 30, 2023, the company reported a loss of €81,829,000, compared to a loss of €268,269,000 for the same period in 2022, indicating a significant reduction in losses[12] - Total comprehensive loss for the nine months ended September 30, 2023, was €83,611,000, compared to €271,130,000 for the same period in 2022, reflecting improved financial performance[12] Assets and Liabilities - Total assets as of September 30, 2023, were €440.369 million, slightly up from €437.659 million as of December 31, 2022[8] - Non-current liabilities increased to €376.045 million as of September 30, 2023, from €318.223 million at the end of 2022[8] - Cash and cash equivalents decreased to €28.829 million from €83.022 million since the end of 2022[8] - Equity attributable to equity holders of the Company was negative €49.336 million as of September 30, 2023, down from positive €27.013 million at the end of 2022[8] - As of September 30, 2023, total equity was reported at €(48,826,000), a decrease from €70,430,000 as of September 30, 2022, reflecting ongoing financial challenges[12] - The Group's total available credit facility was increased to €400,000 thousand, with €77,390 thousand remaining undrawn as of September 30, 2023[29] - The Group's borrowings increased to €312,160 thousand as of September 30, 2023, compared to €269,033 thousand at December 31, 2022[26] Cash Flow and Investments - Cash generated from operations for the nine months ended September 30, 2023, was a negative €32,914,000, an improvement from a negative €89,640,000 in 2022[14] - The company incurred net cash flows used in investing activities of €45,739,000 for the nine months ended September 30, 2023, compared to €88,421,000 in 2022, indicating reduced investment outflows[14] - Investments in property, plant, and equipment amounted to €43,070 thousand for the nine months ended September 30, 2023, down from €116,590 thousand in the same period of 2022, reflecting a decrease of approximately 63%[80] - The carrying amount of property, plant, and equipment increased to €157,509 thousand as of September 30, 2023, compared to €134,718 thousand at December 31, 2022, marking an increase of about 17%[79] Share-Based Payments - The company reported share-based payment expenses of €81,184,000 for the nine months ended September 30, 2022, which is a significant cost impacting overall financial results[12] - The total fair value of the share-based payment arrangement as of September 30, 2023 is estimated at €49,958 thousand, an increase from the grant date value of €32,250 thousand[50] - Share-based payment expenses for the three months ended September 30, 2023 amounted to €15,028 thousand, compared to a gain of €421 thousand for the same period in 2022[52] - The Group recognized total share-based payment expenses of €21,551 thousand for the nine months ended September 30, 2023, significantly up from €2,187 thousand in the same period of 2022[52] Financing and Capital Structure - The company has relied heavily on funding from bank financing and equity issuance to support its growth strategy, including a €400 million facility agreement to enhance financial stability[25] - The Group recorded an impairment loss of €321 thousand for the nine months ended September 30, 2023, down from €678 thousand in the same period of 2022, indicating a reduction of about 53%[82] - The issued share capital increased to €32,142 thousand as of September 30, 2023, from €32,061 thousand at December 31, 2022, reflecting a growth of approximately 0.25%[84] Future Outlook and Strategy - The company expects to continue incurring losses in the next twelve months, typical for the industry as it expands its EV charging network[25] - The Group's liquidity forecasts indicate sufficient cash flow to fund expected outflows for the next 12 months, despite the need for additional financing for long-term growth[30] - The Group's liquidity management policy includes maintaining sufficient cash and committed credit facilities, with undrawn borrowing facilities of €77,390 thousand as of September 30, 2023[134] Risk Management - The Group's management oversees financial risk management, supported by the Finance department, with no significant changes compared to the previous period[122] - The Group's exposure to equity securities price risk is mitigated by monitoring quarterly valuation updates and forecasts of future cash flows[129] Warrants and Share Exchange - As of September 30, 2023, the Group had 13,799,948 public warrants outstanding, with no private placement warrants[143] - On October 3, 2023, the Group completed an exchange offer, issuing 2,996,918 ordinary shares for 13,029,838 public warrants tendered[143] - The remaining 770,110 public warrants were exchanged for 159,712 ordinary shares, effective October 18, 2023[143]
Allego(ALLG) - 2023 Q3 - Earnings Call Transcript
2023-11-14 16:39
Financial Data and Key Metrics Changes - In Q3 2023, total revenue increased by 28.2% to EUR28.6 million, compared to EUR22.3 million in Q3 2022, driven by strong charging revenue growth [8][18] - For the nine months ended September 30, 2023, revenue was EUR96.8 million, a 33% increase over the prior-year period of EUR73 million [8] - Charging revenue increased by 53% to EUR22 million during the quarter, compared to EUR14.4 million in the same period in 2022 [8][18] - Operational EBITDA improved to EUR2.6 million for Q3 2023, compared to a loss of EUR3.1 million in the prior year period [20] Business Line Data and Key Metrics Changes - Revenue from sales and services for Q3 2023 was EUR6.6 million, down from EUR7.9 million in the prior period, primarily due to lower Carrefour project work [11][19] - Total energy sold for the nine months of 2023 was over 144.2 gigawatt hours, with Q3 alone accounting for 47.8 gigawatt hours, compared to 37 gigawatt hours in the prior year [11] Market Data and Key Metrics Changes - The global number of charging stations increased by 21% to 2.6 million from 2.2 million in the prior year period [8] - The European market has over 18% fully battery electric vehicle penetration in Q3 2023, with the EV fleet expected to expand from 6.5 million to 12.6 million by 2025 [17] Company Strategy and Development Direction - The company is shifting its focus from sales and service revenue to charging revenue, which is reflected in the strong growth of charging revenue [8] - The company signed two new 10-year power purchase agreements to secure a steady supply of 100 gigawatt hours of energy annually, supporting its commitment to sustainable mobility [12][13] - A strategic partnership with Go'on was established to enhance electric charging services accessibility in Denmark [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the revised guidance for 2023, expecting annual revenue between EUR180 million and EUR185 million and operational EBITDA between EUR30 million and EUR35 million [15][23] - The company anticipates continued strong demand for charging services due to the growing EV market and robust utilization rates [15][17] Other Important Information - The company reported a net loss of EUR43.1 million for Q3 2023, compared to a net loss of EUR22.1 million in the same period of 2022, primarily due to increased finance costs and non-cash SG&A expenses [21] - Cash and cash equivalents totaled EUR28.8 million as of September 30, 2023, down from EUR83 million a year earlier, mainly due to capital expenditures [22] Q&A Session Summary Question: Discussion on Q4 expectations and service revenue - Management indicated that Q4 is expected to see a significant increase in service revenue due to ongoing large projects, including Carrefour in Germany, with recognition occurring in this quarter [28] Question: Clarification on full-year guidance adjustments - The guidance was adjusted to the lower end due to delays in the Carrefour project and late grid connections affecting charger installations [29] Question: Inquiry about price increases and market share - Management confirmed that price increases implemented in 2022 were effective in H1 2023, but a 15% price decrease was initiated in H2 to enhance market share and utilization [31]
Allego(ALLG) - 2023 Q3 - Earnings Call Presentation
2023-11-14 14:26
▪ ▪ • • • • (in €mm) Charging Services € 60 € 10 € 40 € 5 € 6.6 € 2.6 € 0 € 20 € 7.9 € (3.1) € 22.0 € 14.4 (€ 5) € 0 ...
Allego(ALLG) - 2023 Q2 - Earnings Call Transcript
2023-08-15 15:44
Allego N.V. (NYSE:ALLG) Q2 2023 Earnings Conference Call August 15, 2023 8:30 AM ET Company Participants Rachel Richardson – Director-Investor Relations and Corporate Communications Mathieu Bonnet – Chief Executive Officer Ton Louwers – Chief Financial Officer Conference Call Participants Matt Summerville – D.A. Davidson Gabe Daoud – TD Cowen Operator Greetings. Welcome to Allego First Half 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follo ...
Allego(ALLG) - 2023 Q2 - Earnings Call Presentation
2023-08-15 12:38
Allego, a leading European public EV fast-charging network Advancing green electrification First Half 2023 Earnings Presentation Disclaimer Forward Looking Statements All statements other than statements of historical facts contained in this presentation are forward-looking statements. Allego N.V. (“Allego”) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securit ...
Allego(ALLG) - 2023 Q2 - Quarterly Report
2023-06-22 16:00
Exhibit 99.1 Allego N.V. Annual Report 2022 Table of Contents Statutory board report 3 Consolidated financial statements Consolidated statement of profit or loss for the year ended December 31, 2022 32 Consolidated statement of comprehensive income for the year ended December 31, 2022 33 Consolidated statement of financial position as at December 31, 2022 34 Consolidated statement of changes in equity for the year ended December 31, 2022 35 Consolidated statement of cash flows for the year ended December 31 ...
Allego(ALLG) - 2023 Q1 - Earnings Call Presentation
2023-06-05 18:29
Allego, a leading European public EV fast-charging network Enabling green electric mobility First Quarter 2023 Earnings Presentation Disclaimer. Forward Looking Statements All statements other than statements of historical facts contained in this presentation are forward-looking statements. Allego N.V. (“Allego”) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Se ...
Allego(ALLG) - 2023 Q1 - Earnings Call Transcript
2023-06-05 18:28
Start Time: 08:30 January 1, 0000 8:59 AM ET Allego N.V. (NYSE:ALLG) Q1 2023 Earnings Conference Call June 05, 2023, 08:30 AM ET Company Participants Mathieu Bonnet - CEO Ton Louwers - CFO Floris Schwartz - IR, ICR Conference Call Participants Matt Summerville - D.A. Davidson Douglas Becker - Capital One Operator Greetings. Welcome to the Allego First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presenta ...
Allego(ALLG) - 2022 Q4 - Earnings Call Presentation
2023-05-16 23:05
Allego, a leading European public EV fast-charging network Enabling green electric mobility Full Year 2022 Earnings Presentation Disclaimer. All statements other than statements of historical facts contained in this presentation are forward-looking statements. Allego N.V. ("Allego") intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act ...
Allego(ALLG) - 2022 Q4 - Earnings Call Transcript
2023-05-16 23:04
Allego N.V. (NYSE:ALLG) Q4 2022 Earnings Conference Call May 16, 2023 4:30 AM ET Company Participants Sari Schwartz – IR, ICR Mathieu Bonnet - CEO Ton Louwers - CFO Conference Call Participants Matt Summerville - D.A. Davidson Operator Greetings, and welcome to Allego’s Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference ...