Alfen Nv · EURONEXT:ALFEN
Alfen Nv — Q1 2025 Earnings Presentation
19 slides from Alfen Nv's earnings presentation, May 13, 2025
Slide 1: Alfen 2025 Q1 trading update
Alfen 2025 Q1 trading update Webcast 13 May 2025 1
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 Q1 highlights 2 Q1 business line view 3 Q1 financials 4 Outlook 2025 3
Slide 4: Alfen’s highlights of Q1 2025
Alfen’s highlights of Q1 2025 • Q1 2025 revenue was €103.8m, compared to €116.8m in Q1 2024, mainly as a result of revenue decline in EV Charging (-26.9%) and Energy Storage Systems (-8.3%). • Gross margin was €31.0m (29.8% of revenue) compared to €37.4 (32.0% of revenue) in Q1 2024, driven largely
Slide 5: Business line view
1 Q1 highlights 2 Business line view 3 Financials 4 Outlook 2025 5
Slide 6: Business line view | Smart grid solutions
Business line view | Smart grid solutions Revenues and other income (€ million) -1% • Q1 revenue was €54.3m for Smart Grid Solutions (SGS), a decline of 1.1% compared to €54.9m in Q1 2024 54.9 54.3 • Grid operators drove 71% of first quarter revenue, compared to 29% from private domain • The decline
Slide 7: SGS | Scaling grid reinforcement is a multifaceted effort for grid operators
SGS | Scaling grid reinforcement is a multifaceted effort for grid operators with many factors that need to be in place Long-term objective Dutch grid But short-term challenges hamper the operators installation-rate Liander warns Hundreds of construction projects for the grid are in danger due to ni
Slide 8: Business Line View | EV charging equipment
Business Line View | EV charging equipment Revenues and other income (€ million) • Q1 revenue was €28.8m, a 26.9% decline compared to €39.3m in Q1 2024 -27% 39.3 • This revenue decline was mainly caused by increasing competition in home segment as well as a temporary dip in charge point deliveries i
Slide 9: EVC | EV growth of 2025 remains uncertain but long-term outlook reconfirmed
EVC | EV growth of 2025 remains uncertain but long-term outlook reconfirmed by important EU 2035 zero emission car target BEV registrations show strong growth in 2025 Q1 EU Strategic review outcomes: Alfen’s view: In [%] y-o-y compared 2024 Q1 Italy 73 One-time flexibility measure The allowed flexib
Slide 10: EVC | Alfen to strengthen market position with the new V2G-ready Double Plus
EVC | Alfen to strengthen market position with the new V2G- ready Double Plus & Single Plus charger to be launched in Q4 Key features: • V2G hardware ready and compatible with broad range of vehicle brands and energy systems. V2G unlocks smart charging and ancillary service propositions for charge p
Slide 11: Business Line View | Energy storage systems
Business Line View | Energy storage systems Revenues and other income (€ million) • Q1 revenue was €20.7m, an 8.3% decline compared to €22.6m in Q1 2024 -8% 22.6 • The anticipated decline is explained by the 40% price decline for battery systems during 20.7 2024, which is now impacting revenue • Gro
Slide 12: ESS | Backlog for 2025 covers 2025 revenue expectations
ESS | Backlog for 2025 covers 2025 revenue expectations Energy storage backlog as of 31 March 2025 Remarks In € millions Note: this figure does not I Deals closed in H1 2025, can still contribute to 2025 revenue 109 include the Return project announced in 100 April (100MW/200MWh) 23 14 84 II Backlog
Slide 13: ESS | Alfen won largest energy storage deal to date with Return
ESS | Alfen won largest energy storage deal (100MW/200MWh) to date with Return in April 2025 • The 100MW/200MWh system will be the second largest energy storage project in the Netherlands, and is the largest project for Alfen to date • Alfen’s system will provide essential reserve capacity and is di
Slide 14: Financials
1 Q1 highlights 2 Business line view 3 Financials 4 Outlook 2025 14
Slide 15: Group financials
Group financials Revenues Y-o-y revenue growth (€ million) (%) 128.9 135.7 16% - Revenue amounted to €103.8m, an 11% decline 116.8 106.2 compared to €116.8m in Q1 2024. Mainly driven by 103.8 3% lower revenue in EV Charging and Energy Storage -6% Systems -11% -22% - Gross margin is 29.8% (€31.0m), c
Slide 16: Cost savings have been successful: –18.2% cost reduction
Cost savings have been successful: –18.2% cost reduction in personnel and other costs between Q4 24 and Q1 25 Personnel & Other Costs (€ million) • As a result of the reorganisation, personnel costs have declined by -18.2% 18.7% between Q4 2024 and Q1 2025 33 Other costs • Other operating costs have
Slide 17: Outlook 2025
1 Q1 highlights 2 Business line view 3 Financials 4 Outlook 2025 17
Slide 18: 2025 Outlook: adjustment of revenue bandwidth and adjusted EBITDA
2025 Outlook: adjustment of revenue bandwidth and adjusted EBITDA Alfen readjusts revenue range to €430m-€480m for 2025 from €445-€505m Old range New range Smart Grid Solutions revenue growth range adjusted due to 5 – 10% growth 0% – 5% decline installation & regulatory constraints faced by grid ope
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