Alfen Nv · EURONEXT:ALFEN
Alfen Nv — Q1 2026 Earnings Presentation
18 slides from Alfen Nv's earnings presentation, May 13, 2026
Slide 1: Alfen 2026 Q1 trading update
May 13, 2026 Alfen 2026 Q1 trading update Webcast
Slide 2: Disclaimer
Disclaimer This communication may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms such as guidance, expect
Slide 3: Agenda
1 2026 Q1 highlights 2 2026 Q1 business unit view 3 2026 Q1 financials 4 Strategy & transformation update 5 Outlook 3 3
Slide 4: Alfen reports results 2026 Q1: good start to the year
2026 Q1 highlights Alfen reports results 2026 Q1: good start to the year • Revenue was €129.7m, a 25% increase compared with €103.8m in 2025 Q1 • Adjusted gross margin was €34.0m (26.2% of revenue) compared with €31.0m (29.8%) in 2025 Q1 • Adjusted EBITDA was €8.2m (6.3% of revenue) compared with €5
Slide 5: 2026 Q1 business unit view
1 2026 Q1 highlights 2 2026 Q1 business unit view 3 2026 Q1 financials 4 Strategy & transformation update 5 Outlook 5 5
Slide 6: Smart Grid Solutions: revenue increase driven by project business
Smart Grid Solutions Revenue increase driven by project Revenue and other income In € million business; underlying growth drivers remain intact +3% 55.8 • Revenue for Smart Grid Solutions (SGS) was €55.8m, an increase of 2.7% 54.3 compared with the 2025 Q1 revenue of €54.3m • This increase is driven
Slide 7: Continuing to see regulatory improvements benefiting DSO and private smart grid
Smart Grid Solutions Continuing to see regulatory improvements that will benefit both DSO and private smart grid business over time while Dutch DSO investment plans reassure mid -term growth Encouraging signs since the start of 2026 that will However, requirements to scale that hamper execution bene
Slide 8: EV Charging: revenue was €23.3m; portfolio renewal
EV Charging Revenue and other income Revenue was €23.3m; Alfen takes In € million measures to ensure structural competitiveness with renewal of portfolio -19% 28.8 • Revenue for EV Charging decreased by 19% from €28.8m in 2025 Q1 to €23.3m in 2026 Q1 reflect ing the gradual ramp -up of features on n
Slide 9: Positive momentum in electric vehicle market in Europe
EV Charging Positive momentum in electric vehicle market in Europe but country and segment specific differences still exist BEV registrations growth 2026 Q1 Mixed picture: strong European momentum but Alfen core countries Netherlands and In [%] y -o-y compared with 2025 Q1 Belgium lag behind • South
Slide 10: Energy Storage Systems revenue increased by 145%
Energy Storage Systems Revenue and other income Energy Storage Systems revenue In € million increased by 145% driven by project milestones in 2 large projects +145% 50.7 • Revenue for Energy Storage Systems was €50.7m , a 145% increase compared with €20.7m in 2025 Q1 • The revenue increase is primar
Slide 11: 2026 Q1 backlog growth despite strong revenue conversion
Energy Storage Systems Energy storage backlog over past quarters In € million 2026 Q1 backlog growth despite strong revenue conversion of €50.7m 140 127 130 115 5 Backlog Remarks: 113 9 • Healthy pipeline in place 72 48 25 • The window is closing to covert pipeline opportunities to orders that are c
Slide 12: 2026 Q1 financials
1 2026 Q1 highlights 2 2026 Q1 business unit view 3 2026 Q1 financials 4 Strategy & transformation update 5 Outlook 12 1
Slide 13: Quarter-by-quarter group financials
2026 Q1 Group Financials Quarter-by-quarter group financials Revenues Y -o-y revenue growth • Revenue increased with 25% to €129.7m ( €m) (%) compared with €103.8m driven by growth in Energy Storage Systems and Smart Grid Solutions projects . 25% 120.1 129.7 • Adjusted gross margin was €34.0m equal
Slide 14: Strategy & transformation update
1 2026 Q1 highlights 2 2026 Q1 business unit view 3 2026 Q1 financials 4 Strategy & transformation update 5 Outlook 14 1
Slide 15: Strategy and transformation update
Strategy and transformation update We advanced with our transformation and renewed strategy over the last months, reaching a milestone with the adoption of our new BU-organisational structure as planned Total customer Perfect product Smart services Fighting -fit confidence foundations innovation mod
Slide 16: Outlook
1 2026 Q1 highlights 2 2026 Q1 business unit view 3 2026 Q1 financials 4 Strategy & transformation update 5 Outlook 16 1
Slide 17: Reiterated financial guidance 2026
Reiterated Financial guidance 2026 Revenue at €435m -€475m 4 -7% adjusted EBITDA margin Alfen reiterates 2026 FY CAPEX of <4% of revenue guidance for a transformational year in which we aim to reignite Additional 2026 Q2 guidance profitable growth Q2 revenue for Energy Storage Systems is expected to
Slide 18: Slide 18