Alfen Nv · EURONEXT:ALFEN
Alfen Nv — H1 2026 Earnings Presentation
21 slides from Alfen Nv's earnings presentation, Aug 19, 2026
Slide 1: Alfen 2026 HY results
19 august, 2026 Alfen 2026 HY results 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 HY highlights 2 2026 HY business unit view 3 2026 HY financials 4 Outlook 3 3
Slide 4: Alfen reports 2026 HY results in line with expectations while advancing its transformation
2026 HY highlights Alfen reports 2026 HY results in line with expectations while advancing its transformation • Revenue was €261.5m, representing a 23.6% increase compared with €211.5 in 2025 H1 • Adjusted gross margin was €68.3m (26.1% of revenue) compared with €61.6m (29.1%) in 2025 H1 • Adjusted
Slide 5: 2026 HY business unit view
1 2026 HY highlights 2 2026 HY business unit view 3 2026 HY financials 4 Outlook 5 5
Slide 6: Revenue increased to €111.6m with growth across the board on subsegment level
Smart Grid Solutions Revenue and other income Revenue increased to €111.6m withgrowth In € million across the board on subsegment level +15% 111.6 • Revenue for Smart Grid Solutions (SGS) was €111.6m, an increase of 14.9% compared with the 2025 H1 revenue of €97.1m 97.1 • The increase was mostly att
Slide 7: Continuing to see advancements from a regulatory perspective
Smart Grid Solutions Continuing to see advancements from a regulatory perspective as focus starts to shift from development of measures towards execution Continued encouraging signs as planned improvements However, requirements to scale that hamper execution speed move to regulation today still exis
Slide 8: Revenue was €51.1m; Measures to ensure future competitiveness on track
EV Charging Revenue and other income Revenue was €51.1m; Measures to ensure In € million future competitiveness on track -17% • Revenue for EV Charging decreased by 17.4 % to €51.1m , down from 61.8 €61.8m in H1 2025 . • Revenue was impacted by continued competitive pressure in the home segment, une
Slide 9: Positive momentum in electric vehicle market continues throughout Europe
EV Charging Positive momentum in electric vehicle market continues throughout Europe BEV registrations growth 2026 H1 Significant growth in European markets, supported by accelerating EV adoption in the In [%] y -o-y compared with 2025 H1 major car markets, where one in five new car registrations is
Slide 10: Revenue increased by 88%, driven by project milestones in 2 large projects
Energy Storage Systems Revenue and other income Revenue increased by 88 %, driven by In € million project milestones in 2 large projects +88% 98.8 • Revenue for Energy Storage Systems was €98.8m , an 87.8% increase compared with €52.6m in 2025 H1 • The revenue increase is primarily driven by reachin
Slide 11: Healthy pipeline gives confidence for H2 backlog improvement
Energy Storage Systems Energy storage backlog over past quarters Healthy pipeline gives confidence for H2 In € million backlog improvement 140 127 130 115 5 9 Backlog Remarks: 72 48 93 • The underlying pipeline remains healthy, and the pace at which orders are converted reflects the lumpiness inhere
Slide 12: Sodium-Ion technology diversifies Alfen's Energy Storage portfolio
Partnership extension Sodium -Ion technology diversifies Alfen’s Energy Storage portfolio Alfen remarks: • Extending our long -lasting partnership with CATL • Diversifying our supply chain and Energy Storage System portfolio • Alfen expects to deploy its first project to market from H2 2027 Performa
Slide 13: 2026 HY financials
1 2026 HY highlights 2 2026 HY business unit view 3 2026 HY financials 4 Outlook 13 1
Slide 14: Quarter-by-quarter group financials
2026 Q2 Group Financials Quarter-by-quarter group financials Revenues Y -o-y revenue growth ( €m) (%) 25% 23% 129.7 131.7 120.1 107.7 104.1 • Revenue increased with 22.3% to €131.8m compared -2% with €107.7m driven by growth in Energy Storage -12% Systems and Smart Grid Solutions -16% Q2 Q3 Q4 Q1 Q2
Slide 15: Income statement 2026 HY
2026 HY Financials Income statement 2026 HY In € millions 2026 H1 2025 H1 Revenue and other income 261.5 211.5 • Revenue increased with 23.6% to 261.5m. up from €211.5m in H1 2025. Driven by Energy Storage Systems and Smart Grid Solutions Smart Grids Solutions 111.6 97.1 • Adjusted Gross margin amou
Slide 16: Balance sheet
2026 HY Financials Balance sheet • Non -current assets decreased by €1.8m driven by depreciation and amortisation of 30 Jun 31 Dec €10.2m and partly offset by Capitalised development, New leases and/or In € millions 2026 2025 remeasurements and Other CapEx of €4.4m, €1.0m and €3.0m, respectively Non
Slide 17: Working capital overview
2026 HY Financials Working capital overview Working 30 Jun 31 Dec Capital In € millions 2026 2025 Movements • Net working capital decreased with €23.1m from €81.5m at the Inventories 62.0 81.7 (19.7) end of 2025 to €58.1m at the end of H1 2026 Trade and other receivables 107.9 96.0 11.9 • Inventorie
Slide 18: Outlook
1 2026 HY highlights 2 2026 HY business unit view 3 2026 HY financials 4 Outlook 18 1
Slide 19: Organisation update
Organisation update Next step in organisational transformation with leadership appointments New appointments included in the Alfen Group Management Team: New governance structure Stephanie Schockaert Business Unit Director – Energy Storage Systems Supervisory Board Alfen Group Management Team Eva Ha
Slide 20: Alfen reiterates 2026 FY guidance for a transformational year
Reiterated Financial guidance 2026 Revenue at €435m -€475m: 4 -7% adjusted EBITDA margin Alfen reiterates 2026 FY guidance for a transformational CAPEX of <4% of revenue year in which we aim to reignite profitable growth Reiterated 2027 ambition Returning to consistent profitable growth : year -on-y
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