Alfen NV · EURONEXT:ALFEN
Alfen NV — Investor Day (May 2023)
98 slides from Alfen NV's investor day presentation, May 10, 2023
Slide 1: The next phase of profitable growth at the heart of the energy transition
The next phase of profitable growth at the heart of the energy transition Capital Markets Day Alfen N.V. London | May 10, 2023 1
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not purport to contain all information that may be required to evaluate Alfen N.V. (Alfen) or its financial position. It is not a recommendation to engage in investment activities and is provided “as is”, without representation o
Slide 3: Today's speakers
Today’s speakers Jeroen van Rossen Michelle Lesh Marco Roeleveld Chief Financial Officer Chief Commercial Officer Chief Executive Officer 3
Slide 4: Corporate film - Alfen
Corporate film - Alfen 4
Slide 5: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 5 Closing remarks 12:25 – 12:30 6 Informal lunch 5
Slide 6: Alfen at a glance
Alfen at a glance 6
Slide 7: Alfen is at the heart of the energy transition
Alfen is at the heart of the energy transition… Our vision to build a connected, smart & sustainable energy system for future generations Our mission to boost the energy transition by developing, producing, integrating and connecting high- quality energy solutions. Our solutions are innovative, reli
Slide 8: Unique business model of 3 business lines building on 85+ years of grid expertise
… with a unique business model of 3 business lines that build on 85+ years of electricity grid expertise EV charging equipment | Since 2008 • In-house developed and produced smart chargers and maintenance offering • Used at destinations at home, business (a.o. retail & workplaces) and public locatio
Slide 9: Integrated solutions are a unique edge
Our integrated solutions are a unique edge, where we combine technical capabilities from multiple business lines EPV windmill park Shell fast-charging with storage Alfen’s new production facility Energy storage system Peak shaving with energy storage Grid connection & power distribution Smart grid s
Slide 10: Our value proposition
Our value proposition | We bring high-quality and comprehensive grid solutions We bring 85 years of grid We customise our solutions We develop reliable & We build long-term perspective (“Power to Adapt”) innovative solutions customer partnerships • We solve our customers’ • We offer a comprehensive
Slide 11: Why we are here today
Why we are here today 11
Slide 12: In 2022, we achieved 3 out of 4 IPO objectives
In 2022, we achieved 3 Financial objectives Achieved value out of 4 IPO objectives 43% over >40% topline CAGR 2017-2022 15 - 20% adjusted 18% EBITDA margin in 2022 We have proven we can deliver profitable growth. >50% international 51% Alfen set 4 financial objectives revenue in 2022 at the time of
Slide 13: It's time for new objectives
It’s time for Revenue of >1B€ new objectives 15 - 20% adjusted EBITDA margin Today Alfen presents its new Qualitative objectives to achieve/maintain medium-term financial objectives to achieve I Outperform the market in each of our business lines between 2025-2027 II Adopt SBTi-approved CO2 targets
Slide 14: The energy transition is accelerating
The energy transition is accelerating 14
Slide 15: Trends | The energy transition is a multi-decade, global trend
Trends | The energy transition is a multi-decade, global trend with 3 fundamental opportunities Increase share of renewables in Decentralise electricity Enable the electricity grid to I electricity consumption II production III cope with electrification Global fuel mix of final electricity consumpti
Slide 16: Regulation | The energy transition is a priority for the EU
Regulation | The energy transition is a priority for the EU, reflected in stimulative policy towards 2030 EU regulatory packages bring clarity to markets on long-term trajectory towards 2030 Fit for 55 Reduce net GHG by 2030 and achieve climate neutrality by 2050 REPowerEU Achieve 42.5% renewable en
Slide 17: Alfen's position in the energy transition
Alfen’s position in the energy transition 17
Slide 18: Our innovative energy solutions
Alfen is perfectly positioned to support these 3 opportunities in the energy transition Increase share of renewables in Decentralise electricity Enable the electricity grid to I electricity consumption II production III cope with electrification Design & supply secondary Connect renewables to the De
Slide 19: Only independent player active in all three business lines
Business model | We are the only independent player active in all three business lines Select examples of our suppliers, Strategic suppliers & partners Competitors Customers competitors and customers • Alfen sources standardised • Alfen is the only player active in • Alfen caters to a mix of B2B and
Slide 20: We leverage many group synergies from our business lines
We leverage many group synergies from our business lines Smart EV Energy grids charging storage Commercial synergies Strong individual business lines that build technical trust for cross-selling & integrated solutions Leveraged support functions Support functions are centralised. Synergies include e
Slide 21: Commercial synergy | Our segments buy from multiple business lines
Commercial synergy | Our segments buy from multiple business lines Grid operators Energy companies Wholesalers Cross-sell & Chargepoint Operators & Mobility Service Providers integrated solutions opportunities with Industry, Greenhouses & customers Fast Charging Operators Renewables project develope
Slide 22: Solutions come together in integrated solutions
Our solutions come together in integrated solutions, as the energy transition unfolds due to grid constraints 3 Examples of integrated solutions 1. 1 Charging plaza (EV charging with energy storage on site) 2 2 Microgrid at business 2. location with energy storage on site, transformer substation and
Slide 23: Customers appreciate our grid expertise, technical capabilities and flexibility
Customers appreciate our grid expertise, technical capabilities and flexibility Customer testimonials Smart grid solutions EV charging equipment Energy storage systems ‘Alfen has sound knowledge and ‘70 percent of the customers who call in reference to the budget model ‘When we started our company,
Slide 24: Loyal customer base that has diversified since IPO
Alfen has a loyal customer base that has diversified since our IPO in 2018 Loyal Diversified % of top 50 customers within % of revenues attributed to No customer each business line that ordered in past 6 months top 5 customers accounted for more than 10% 98% of revenue Other 48% in 2022, making 75%
Slide 25: Setting the stage for future growth
Setting the stage for future growth 25
Slide 26: Growing markets across Europe and fast internationalisation
Alfen is exposed to a variety of growing markets across Europe and internationalises at high pace Alfen has local sales presence in 13 European countries with its solutions Growing international revenues installed in 30+ European countries beyond the NL In € millions and as % of group revenues Heatm
Slide 27: Focus remains on Europe, new country monitoring in place
Focus remains on Europe, but new country monitoring in place to selectively pursue entry in the medium term Long list of new countries Short list Countries of new In scope of monitoring for entry countries are parts of the Americas and Asia 01 Market size and maturity 03 Product-market fit 02 Govern
Slide 28: Our go-to-market strategy is scalable and product/market focused
Our go-to-market strategy is scalable, product/market focused, and tuned to the complexity of the solution Typical Trans- Frag- Late Low Serve through partner channels: channel sales actional mented EV charging & Energy storage (mobile) • Fragmented end customers Market concentration Solution comple
Slide 29: Track record of attracting and retaining talent
Our strong track record of attracting and retaining talent sets us up for continued growth Growth in FTE employed FTE per department Why do employees choose Alfen? Why do they As per December 31 As per December 2022 stay? • Meaningful work at the heart of the energy 893 transition 9% Support functio
Slide 30: New production facility operational in Q1 2024
New production facility – operational in Q1 2024 – sets the next stage for our growth story 30
Slide 31: Increasing production capacity in Almere with additional facility
Increasing production capacity in Almere (NL) with purchase of additional facility per June 1, 2023 Existing industrial building at Damsluisweg 70, Almere (on same industrial premise as other Alfen buildings) Significant floor space: • 2350 m2 production • 13000 m2 warehouse • 1600 m2 offices Lowers
Slide 32: Production facilities in Almere provide ample capacity
Our production facilities, centrally located in Almere (NL), provide ample capacity for further growth Under construction | Hefbrugweg 79 Commercial functions | Bolderweg 2 • 20,000 m2 production hall + 4200 m2 offices • 3000 m2 office space (Mac3Park) for • Expected delivery early 2024 several Sale
Slide 33: Walk the talk | Sustainability at the core of our business
Walk the talk | Sustainability at the core of our business and delivering results ESG examples below: more in Annual Report 2022 Our solutions have a positive We run our business with ESG at sustainable impact on society the forefront E Decreased CO2 emissions by 28% Our a “sustainable energy (2019-
Slide 34: Program to implement Corporate Sustainability Reporting Directive (CSRD)
Strategic program in place to implement Corporate Sustainability Reporting Directive (CSRD) Our next steps to 24 material ESG topics determined for Alfen based on double materiality assessment (initial assessment) implement CSRD Environmental Social Governance 1.1 Setting clear • E1-1 | Transition p
Slide 35: Profitable growth
Profitable growth 35
Slide 36: Market and solution expansion drives topline growth
Market and solution expansion drives our topline growth Smart grids EV Energy charging storage Solution portfolio Market growth Internationalisation Integrated solutions additions • Benefit from strong market • Internationalise across • Leverage our unique • Expand our portfolio by growth trends for
Slide 37: Programs to propel revenue growth and improve efficiency
Several programs in place to propel steep revenue growth and improve efficiency Examples of programs Supplier Management Customer Experience Operational Excellence IT infrastructure & applications • Develop category strategies • Develop customer-facing IT • Smart Grid Solutions: • Build a secured (b
Slide 38: Mid-term objectives by business line growth and gross margin
Mid-term financial objectives take into account varying growth rates and gross margins per business line Market volume CAGR for 2022 – 2027 continue to be double digit for our markets1 Gross margins vary by business line CAGR 15-20% 35% 45% 2022 2027 CAGR 10-15% 25% 40% 2022 2027 CAGR 50-60% 15% 30%
Slide 39: It's time for new objectives
It’s time for Revenue of >1B€ new objectives 15 - 20% adjusted EBITDA margin Today Alfen presents its new Qualitative objectives to achieve/maintain medium-term financial objectives to achieve I Outperform the market in each of our business lines between 2025-2027 II Adopt SBTi-approved CO2 targets
Slide 40: Our objectives are full of ambition given market context
Our objectives are full of ambition given the broader market context Market context for our revenue objective Market context for our adjusted EBITDA margin objective In mid-term, our objective is to grow revenues to at least 1 In mid-term, our objective is to maintain our profitability in the range
Slide 41: Operating leverage trend in coming years
We continue to see leverage in coming years as a trend, but deleverage can also occur in certain quarters OPEX to revenues (%) shows downward trend from 2019 until 2022, but also quarters with deleverage 31% 27% 26% 25% 25% 25% 23% 20% 22% 22% 22% 21% 18% 18% 17% 17% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 42: Capital allocation strategy | FCF primarily spent on growth
Capital allocation strategy | FCF to be primarily spent on growing the business further Free cash flow (FCF): Alfen continues its financial strategy of profitable growth in combination with an asset light business model. We balance growth with generating FCF. When supply chain pressures ease, our bu
Slide 43: Key takeaways
Key takeaways At the right place: Alfen has a strong position at the heart of the energy transition, benefitting from fast-growing markets driven by the long-term decarbonization trend Robust business model: Alfen is diversified across 3 end-markets (grids, EV charging, storage), 30+ European countr
Slide 44: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 5 Closing remarks 12:25 – 12:30 6 Informal lunch 44
Slide 45: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 5 Closing remarks 12:25 – 12:30 6 Informal lunch 45
Slide 46: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 4.1 EV Charging Equipment + Q&A 10:30 – 11:10 4.2 Smart Grid Solutions + Q&A 11:10 – 11:40 4.3 Energy Storage Systems + Q&A 11:40 – 12:10 4.4 In
Slide 47: Key areas of focus in this EV charging section
Key areas of focus in this EV charging section 1 2 3 4 Market outlook Alfen’s Alfen’s strong & comprehensive Go-to-market position in the growth drivers solution portfolio market 47
Slide 48: Strong double digit growth for charge points in Europe
Independent market research expects strong double digit growth for charge points in Europe until end of this decade EV charge points added per year to base in Europe in millions1 Market growth drivers Decarbonization Goal for individuals and businesses Replacement CAGR 10% Italy France 5.8 Approachi
Slide 49: Alfen focuses on destination charging
Alfen focuses on destination charging; historically AC destination and per 2023 H2 also DC Market for Passenger EV charging equipment Alfen focus (with illustrative use cases) Destination charging Fast charging AC destination DC destination DC Fast charging DC High Performance Power rating 3 – 22 kW
Slide 50: Destination charging expected to dominate vs fast charging
Based on known charging behavior for gasoline fueling, destination charging is expected to dominate vs fast charging Gasoline Share of Customer behavior Analogy for EV charging customers Implication customers market Charge car when it is parked at destination (no Turn in to next station when fuel Pr
Slide 51: Home segment remains dominant, business and public grow
Home segment is expected to remain dominant, but business and public will likely grow in relative size Distribution of charge points by location segment in Europe Insights Actual & outlook CAGR • Home segment declines in relative share. Decreasing share of 2022 - 2027 new EV buyers have access to ho
Slide 52: Our offering | EV chargers for home, business and public
Our offering | Alfen EV charging offers state-of-the-art chargers for the home, business and public segment Home segment Business segment Public segment Coming H2 2023 Eve Single Eve Single Eve Double DC charger Eve Double Twin (AC) S-line (AC) Pro-line (AC)1 Pro-line (AC)2 30 kW PG-line (AC) 11-22
Slide 53: Important innovation coming soon: DC destination charger
Important innovation Rationale for solution extension with the destination DC charger coming soon ✓ Alfen is a one-stop shop for its B2B partners in destination charging ✓ At locations where EV drivers reside for 0.5 – 2 hours, a higher power DC destination charger with rating than AC provides value
Slide 54: Innovation philosophy | Smart charging limits grid investments
Innovation philosophy | Smart charging is necessary to limit the grid investments needed for EV adoption The charger is an extension of the grid, not just an accessory for the car Recent innovations • Implemented the ISO 15118 standard end-to-end • Eichrecht-compliant charger EMS • Integration of OC
Slide 55: Alfen software | Interoperable system with latest standards
Alfen software | Ensure an interoperable sys- Our USPs on tem that is equipped with the latest standards software Among others a modem, display, printed circuit board Hardware assembly, etc. Leading in standard EV charging implementation: help system Software Software to make the devices and applica
Slide 56: Our USPs in the EV charging market
Our USPs | Alfen distinguishes itself in the EV charging market with its solution offering and commercial offering SOLUTION APPROACH COMMERCIAL OFFERING Solutions for full breadth of destination charging More than EV charging: the grid perspective Smart charging: charger as a platform Pan-European p
Slide 57: Neutral position in the value chain as systems specialist
As a pure systems specialist, Alfen has a neutral position in the value chain and can partner with a wide range of players Charging infrastructure value chain Utility Systems specialist Wholesaler Installer CPO1 MSP2 Installation & Ownership & Energy supply Equipment supply Distribution field servic
Slide 58: 3 distinct chains in our go-to-market approach
We have 3 distinct chains in our go-to-market approach Alfen has a B2B Route to market model, but we account for the I II III distinctive customer B2B partner Customer of B2B partner End user journey of each of these 3 chains as a Direct Alfen customer, e.g. Provide added-value to Use the charge poi
Slide 59: Smart charging has barriers to entry
Smart charging has barriers to entry that make rapid price declines unlikely Three main factors keep the market away from Europe’s regulatory framework points towards smart commoditisation in coming years charging1 Fragmented market with country-specific solution European Union 1 requirements • Alte
Slide 60: Case study | DATS 24 and Alfen
Case study | DATS 24 and Alfen work together to elevate the Belgian EV charging infrastructure Quick intro Challenge Solution Customer Colruyt Group via • DATS 24 needs a partner for • For its supermarkets, DATS 24 chose the Eve Double Pro-line subsidiary DATS 24 rolling out its EV charging Year 202
Slide 61: 15 years of innovation in EV charging and strong growth
Building on 15 years of innovation in EV charging and strong growth in recent years, substantial market share realised Revenue growth in M€ for 2013 - 2022 252 2008 started in EV charging CAGR +95% 500,000+ 104 charge points shipped until 2022 54 26 10 12 3 6 6 9 2013 2014 2015 2016 2017 2018 2019 2
Slide 62: Key takeaways on EV Charging
Key takeaways on EV Charging EV charge point market continues to grow fast in this decade Smart charging market expected to sell at a premium due to fragmentation, innovation, new regulation and stringent quality control Alfen expects to outperform the market with its existing pan-European Alfen pre
Slide 63: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 4.1 EV Charging Equipment + Q&A 10:30 – 11:10 4.2 Smart Grid Solutions + Q&A 11:10 – 11:40 4.3 Energy Storage Systems + Q&A 11:40 – 12:10 4.4 In
Slide 64: Key areas of focus in this Smart Grids Solution section
Key areas of focus in this Smart Grids Solution section 1 2 3 Market outlook Alfen’s Alfen’s strong & comprehensive position in the growth drivers solution portfolio market 64
Slide 65: Substation market is a long-term growth market
Substation market is a long-term growth market with an expected volume growth of 10-15% Outlook for installed substations per year Market growth drivers Implied CAGR From 2022 to 2030, we need to add Rising electricity demand 20,000+ substations to the base 25%1 Strengthen distribution grid to cope
Slide 66: Dutch government opens route to fund grid operators
Dutch government opens route to fund grid operators if needed • In November 2022, the Dutch government shared a framework agreement with the parliament, in which the Dutch state can inject capital into grid operators and become a shareholder • The agreement is under approval with Supervisory Boards,
Slide 67: Dutch grid operator market concentrated; Alfen framework agreements
Dutch grid operator market is concentrated; Alfen has significant share in framework agreements Grid operator market is concentrated Alfen has framework agreements with each large grid operator Distribution System Operators (DSO) are publicly owned by municipalities and provinces. Duration Core oper
Slide 68: Electrification is driving growth in all market segments
Electrification is driving growth in all market segments Grid operators • Continue to strengthen and renew the distribution grid to manage increased load from more EVs, heat pumps and electric production in businesses • Roll-out increases gradually: paced by transmission grid upgrades, funding, supp
Slide 69: Electrification is driving growth in need for substations
Electrification is driving growth in the need for substations Drivers of electrification 1. 1 Electrification of 7 transport, e.g. EVs 2 2. 2 Electrification of heating, 3 e.g. heatpumps 3. 3 Electrification of industrial processes 6 4. 4 Decentralised renewables 5. 5 Technological advancement, e.g.
Slide 70: Alfen has a comprehensive solution portfolio for smart grids
Alfen has a comprehensive Substations that can be tailored towards solution portfolio customer requirements. Product lines: Compact (Diabolo, Pacto, Peperbus), Walk-in (Altro series) and for the smart grids In-building (Entrado) secondary transformer substation. Grid automation market Alfen Connect
Slide 71: Wide variety of substations and special products & services
Our wide variety of substations and special products & services enables serving specific customer needs Non– walk in substations Walk in substations Special Products and Services 71
Slide 72: We perform all activities in the value chain except operating
We perform all activities in the value chain, except operating the substation Manufacture & Engineer assemble Install Commission Operate Service • Engineer • Source • Build in-field • Commission and • Operate the assets • Perform recurring standardised & components such concrete start-up substation
Slide 73: Alfen's core markets are NL, Belgium, Finland and Sweden
Alfen’s core markets are the Netherlands, Belgium, Finland and Sweden Further internationalisation opportunity in Core markets smart grids is limited Netherlands • Differences country by country in the grid code Served from production facility in the and therefore in substation requirements Netherla
Slide 74: Our USPs in the Smart Grid Solutions market
Our USPs | Alfen distinguishes itself in the Smart Grid Solutions market with its solution approach and commercial offering SOLUTION APPROACH COMMERCIAL OFFERING Engineering to order: in-house expertise to design & Cooperation as creative problem-solvers beyond develop smart grids smart grid solutio
Slide 75: Case study | Transformer substations in local energy sharing community
Case study | Alfen transformer substations at the heart of an innovative local energy sharing community Quick intro Challenge Solution Customer Meer Fresh Products, • Meer Fresh Products has had • Two transformer substations. In the stations, Comeco floating solar panels installed in the green energ
Slide 76: Innovation philosophy | Innovate the substation
Innovation philosophy | Innovate the substation to accelerate the energy transition Make more Ease of Grid compact installation Circularity automation Increase power Shorten Increase use of Automate per m2, reduce substation recycled substation spatial installation materials and response on footprin
Slide 77: Strong track-record of growth and market share in the Netherlands
Building on strong track-record of growth in recent years and a strong market share in the Netherlands Revenue growth in M€ for 2017-2022 48,500+ ~70% substations shipped market share in NL in since ’60s 20221 CAGR +20% • Market leader in the Netherlands in private and grid operator market 143 • Str
Slide 78: Key takeaways on Smart Grid Solutions
Key takeaways on Smart Grid Solutions Market for substation and microgrids has a long-term double digit growth perspective, driven by electrification of our energy system The market for substations and microgrids is further stimulated by the step-up of government involvement in funding, the roll-out
Slide 79: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 4.1 EV Charging Equipment + Q&A 10:30 – 11:10 4.2 Smart Grid Solutions + Q&A 11:10 – 11:40 4.3 Energy Storage Systems + Q&A 11:40 – 12:10 4.4 In
Slide 80: Key areas of focus in this Energy Storage Systems section
Key areas of focus in this Energy Storage Systems section 1 2 3 Market outlook Alfen’s Alfen’s strong & comprehensive position in the growth drivers solution portfolio market 80
Slide 81: Strong growth anticipated for energy storage in Europe
Strong growth anticipated for energy storage in Europe Added capacity to installed base in Europe (MWh) Market growth drivers Europe other - East Europe other - North More intermittent electricity generation Wind and solar power generation requires Europe other - South storage buffer to offset unbal
Slide 82: Market regulations increasingly promote battery energy storage
Market regulations increasingly promote deploying battery energy storage systems, but more is needed … yet, more fundamental changes in electricity market design needed for mass- Favourable regulatory development in recent years scale deployment of energy storage Nether- • Subsidy to make portfolio
Slide 83: Energy storage solutions for commercial, industrial and utility scale
Alfen offers energy storage solutions for commercial, industrial and utility scale applications Alfen’s focus Residential storage Mobile storage Utility scale storage 0 – 0.1MWh <1MWh ≥1MWh Tesla power wall • Small scale storage behind the meter for • Medium scale storage for applications such as •
Slide 84: Capture the market with comprehensive storage solution portfolio
Alfen can capture TheBattery Elements the market further Stationary storage solutions • Modular design for >1 MWh energy with its storage solutions with high energy density • TheBattery connect comprehensive • Highly scalable; into hundreds of MW(h) Applications include ancillary services • Provides
Slide 85: Innovation philosophy | 5 key components
Innovation philosophy | 5 key components Best-in-class quality and Flexible assets Connected and smart Autonomous operations performance Customers can use our Our systems can be Our systems can take We offer the best assets how they please integrated in any back- decisions autonomously availability,
Slide 86: Our USPs in the Energy Storage market
Our USPs | Alfen distinguishes itself in the Energy Storage market with its solution approach and commercial offering SOLUTION APPROACH COMMERCIAL OFFERING Excellent grid integration: extensive expertise with Consultative selling approach: support customer to inverters, batteries, BMS and auxiliary
Slide 87: Case study | Former landfill into provincial solar park
Case study | Transforming a former landfill into versatile provincial solar park Quick intro Challenge Solution Customer Solarfields Limited land available in the Alfen closely coordinated with Solarfields to follow Year 2023 Netherlands for building new solar parks the unusual requirements associat
Slide 88: End-to-end solution to customer segments in European markets
Alfen provides an end-to-end solution to its customer segments in many different European markets Our activities in the value chain Customer segments 1• Engineer • Engineer turnkey storage solutions For TheBattery Elements • Determine what hardware is required • Industry • Build proprietary software
Slide 89: Strong increase in momentum in 2022 expected to continue
Building on strong increase in momentum in 2022, which is expected to continue in coming years Revenue growth in M€ for 2017 - 2022 2011 started in Energy Storage Systems CAGR +40% 45 575 MWh+ in execution / commissioned until Feb 2023 8 16 13 17 18 ~7% Installed systems market share in Europe in 20
Slide 90: Working capital managed through multiple payment milestones
Working capital is managed through multiple payment milestones within one project Final customer VII Project cycle varies from 4 to 18 months, takeover but on average ~10 months VI Site Acceptance Test V Mechanical Delivery of main completion IV equipment III Main equipment Design ready for shipment
Slide 91: Key takeaways on Energy Storage Systems
Key takeaways on Energy Storage Systems Market for energy storage is expected to grow at 50%+ CAGR until 2027, primarily driven by addition of renewables Regulatory developments are likely to stimulate market growth in Energy Storage Alfen Alfen saw momentum pick up in 2022 and is confident in its E
Slide 92: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 4.1 EV Charging Equipment + Q&A 10:30 – 11:10 4.2 Smart Grid Solutions + Q&A 11:10 – 11:40 4.3 Energy Storage Systems + Q&A 11:40 – 12:10 4.4 In
Slide 93: Integrated solutions an increasingly important competitive edge
Alfen’s integrated solutions are an increasingly important competitive edge as the energy transition moves on Our business lines are interlinked Why they are necessary? • Integrated solutions will help manage increased grid congestion as the energy transition unfolds • For instance, energy storage +
Slide 94: Case study | Integrated solution at Solar Park De Dijken
Case study | Unique integrated solution at Solar Park De Dijken • Batteries charged directly from solar park and store energy • Energy Storage Trading Hub • Charging plaza connects up to 22 mobile energy storage systems • Manages grid infrastructure more efficiently • Capacity to power 4,200 homes 9
Slide 95: Customer segments overlap across business lines
Customer segments overlap across business lines, raising the potential for integrated solutions Grid operators Energy companies Wholesalers Cross-sell & Chargepoint Operators & Mobility Service Providers integrated solutions opportunities with Industry, Greenhouses & customers Fast Charging Operator
Slide 96: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 5 Closing remarks 12:25 – 12:30 6 Informal lunch 96
Slide 97: Closing remark
Closing remark At the right place: Alfen has a strong position at the heart of the energy transition, benefitting from fast-growing markets driven by the long-term decarbonization trend Robust business model: Alfen is diversified across 3 end-markets (grids, EV charging, storage), 30+ European count
Slide 98: Agenda | Capital Markets Day
Agenda | Capital Markets Day 1 Group strategy 09:00 – 09:45 2 Q&A 09:45 – 10:15 3 Coffee break 10:15 – 10:30 4 Business line deep-dives + Q&A 10:30 – 12:25 5 Closing remarks 12:25 – 12:30 6 Informal lunch 98