Netherlands · Delayed Price · Currency is EUR Alfen Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue grew 25% year-over-year, driven by Energy Storage and Smart Grid Solutions, while EV Charging declined but saw margin improvement. Full-year guidance is reiterated, with transformation initiatives and new product rollouts expected to support future growth.
Fiscal Year 2025
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Revenue declined 10% to EUR 435.6 million in 2025, with stable adjusted EBITDA margin at 5.8%. Transformation efforts are underway, with 2026 expected to be a transitional year and profitable growth targeted for 2027. Net debt improved and inventory was significantly reduced.
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Q3 2025 revenue declined 2% year-over-year to EUR 104.1 million, with gross margin at 28.7% and adjusted EBITDA margin at 6.7%. Cost reductions offset revenue headwinds, and full-year guidance is reiterated at the lower end of the range.
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H1 2025 saw a 13.9% revenue decline, but gross margin improved to 29.1% due to cost controls. Guidance for 2025 is maintained, but 2026 growth expectations are lowered amid ongoing market challenges and competitive pressures.
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Q1 2025 saw an 8.3% revenue decline, with lower margins and reduced guidance due to weak EV charging and smart grid demand, offset by strong energy storage backlog and cost savings. New vehicle-to-grid chargers and a major storage deal support future growth.
Fiscal Year 2024
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2024 revenue reached EUR 487.6 million, with adjusted EBITDA margin at 5.8% and positive free cash flow. Strategic focus shifted to core markets, cost base was reduced, and DC charging discontinued. 2025 outlook targets EUR 445–505 million revenue, high single-digit EBITDA margin, and continued positive cash flow.
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Q3 revenue fell 22% year-over-year, with energy storage down 55% and EV charging down 6%. Gross margin improved due to a one-off in energy storage, but adjusted EBITDA margin dropped to 6.8%. 2024 revenue is expected at the lower end of €485–520 million, with limited growth seen for 2025.
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Revenue grew 10% year-over-year in H1 2024, but margins and profitability declined due to one-off provisions and higher costs. Outlook for 2024 remains cautious, with restructuring and covenant renegotiations underway, while long-term market trends are positive.
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Revenue and EBITDA guidance for 2024 have been significantly lowered due to delayed energy system deals and market headwinds, with additional one-off costs impacting profitability. Constructive talks with banks are ongoing to address a covenant breach, and strategic realignment is underway.