- First half 2023 revenue increased 34.6% to €68.2 million, compared to €50.7 million in the prior year period.
- First half 2023 charging revenue was up by €27.1 million, or 113.1%, to €51.1 million compared to €24.0 million for the six months ended June 30, 2022.
- First half 2023 net loss was €(38.9) million, compared to €(247.1) million in the prior-year period.
- Operational EBITDA was €11.7 million increasing steadily compared to the prior-year period loss of €(1.5) million.
- Allego entered into a long-term agreement with Esso Deutschland through 2028 to sell compliance credits for a potential total value of up to €185 million.
- In a first-of-its-kind collaboration, Allego is partnering with gas station brand OIL! Tank & Go in Denmark to equip its 80 stations of which 14 charging sites are expected to be fully operational and added to the Company’s network in the first quarter of 2024.
ARNHEM, Netherlands–(BUSINESS WIRE)–Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced its results and key performance metrics for the first half of 2023.
First Half 2023 Ended June 30, 2023
Revenue climbed 34.6% to €68.2 million from €50.7 million in the same period of 2022.
- Charging revenue was up by €27.1 million, or 113.1%, to €51.1 million compared to €24.0 million for the six months ended June 30, 2022. The improvement was driven by a mix of increased utilization rates, premium pricing on ultra-fast and fast chargers, and an increase of 37.9% in energy sold compared with the previous period.
- Services revenue decreased to €17.1 million compared to €26.7 million, completely driven by the expected phasing out of the Carrefour project compared to the first half of 2022 and before the start-up of new projects in H2 2023.
- Gross profit grew to €20.5 million, compared to €2.3 million in the prior-year period. This increase of €18.2 million was primarily driven by an expansion in gross profit on charging revenue of €21.7 million, partly offset by a decrease of €3.5 million in services revenue gross margin. This shift towards charging revenue from service revenue is in line with Allego’s business strategy.
- First half 2023 net loss was €(38.9) million compared to the prior-year period of €(247.1) million; Operational EBITDA was €11.7 million, compared to the prior-year period of €(1.5) million. The strong improvement in the first half 2023 net results was primarily driven by a substantial decrease in non-cash one-time items related to the New York Stock Exchange listing and an improved operational performance on the charging revenue.
- As of June 30, 2023, the Company’s network of ultra-fast charging points rose by 107% compared to the same period in the previous year, demonstrating Allego’s focus on its ultra-fast charging network.
|Six Months Ended June 30|