Welcome to our dedicated page for Allego N.V. news (Ticker: ALLG), a resource for investors and traders seeking the latest updates and insights on Allego N.V. stock.
Allego N.V. (NYSE: ALLG) is a prominent provider of electric vehicle charging solutions, passionately committed to accelerating the global transition to electric mobility using 100% renewable energy. Established in 2013 and publicly listed on the NYSE in 2022, Allego has developed an expansive portfolio of innovative charging infrastructure and proprietary software platforms, including Allamo and EV Cloud. With an extensive network of over 35,000 charging points across 16 countries, Allego delivers reliable and safe charging solutions, independent of vehicle model or network affiliation.
Allego's latest achievements include a significant 28.2% increase in revenue during the third quarter of 2023, reaching €28.6 million. Charging revenue saw a substantial 53% rise to €22.0 million, driven by increased utilization rates and premium pricing on ultra-fast chargers. The company's gross profit turned positive, increasing to €5.4 million, showcasing improved operational efficiencies.
In recent developments, Allego has signed two major power purchase agreements (PPAs) with Energy Solutions Group, securing 100 GWh per year from solar and wind farms expected to be operational by 2024 and 2025, respectively. The company also achieved a milestone of over one million sessions per month across its network in October 2023. Additionally, Allego is expanding its ultra-fast charging infrastructure in partnership with notable entities like Go’on Gruppen and Burger King France.
Allego remains at the forefront of the electric mobility revolution, continually enhancing its network and technology to meet the growing demand for EV charging. With a steadfast focus on sustainability and customer satisfaction, Allego is positioned to be a key player in the EV market for years to come.
Allego N.V. (NYSE: ALLG), a premier electric vehicle charging network in Europe, announced its participation in the dbAccess AutoTech Conference, scheduled for December 13, 2022, at 11:45 AM EST. The event will feature a fireside chat with management, available for live webcast via this link. Allego operates approximately 34,000 public and private charging ports and offers comprehensive solutions for various electric vehicle types through its proprietary platform, EV-Cloud.
Allego N.V. reported a remarkable 105.0% revenue increase to €22.3 million in Q3 2022, driven by a surge in charging sessions and implemented price hikes. Total energy sold rose to 37.0 GWh, an 81.0% increase. Charging revenues reached €14.4 million, growing by 107.7%. The company signed a 10-year power purchase agreement to stabilize energy costs beginning January 1, 2023. Despite a net loss of €(18.7) million, improvements in operational metrics were noted, including a 74.5% rise in utilization rate and a significant backlog of charging sites.
Allego N.V. has signed a 10-year, 25 gigawatt hour Power Purchase Agreement (PPA) with an independent power producer. This agreement will supply renewable electricity for Allego's operations in Germany, covering approximately 16% of its European charging network.
Starting January 1, 2023, Allego aims to secure additional PPAs to cover over 80% of its operations. CEO Mathieu Bonnet emphasized the commitment to 100% renewable energy for their charging stations, highlighting the strategic move to stabilize input costs amidst market volatility.
Allego Holding B.V. (NYSE: ALLG) will announce its financial results for the nine months ended September 30, 2022, on November 14, 2022, prior to market open. Following the release, an earnings call is scheduled for 8:30 AM ET. Participants can join by calling 1-877-407-9716 or accessing the live webcast at ir.allego.eu/events-publications. A telephonic replay will be available until November 28, 2022. Allego specializes in providing electric vehicle charging solutions across Europe with around 28,000 operational charging ports.
Allego N.V. (NYSE: ALLG), a leading electric vehicle fast-charging network, has announced management participation in key investor conferences. Notable events include Citi's 2022 Global Technology Conference on September 8, 2022, at 4:00 pm ET in New York and the Cowen 15th Annual Global Transportation & Sustainable Mobility Conference on September 9, 2022, at 9:20 am ET virtually. Investors are encouraged to contact their sales representatives for one-on-one meetings. Allego operates approximately 34,000 charging ports across Europe, committed to reliable and accessible electric vehicle charging solutions.
Allego N.V. (NYSE: ALLG) reported a 148.3% revenue increase to €50.7 million in H1 2022, driven by a 105% rise in energy sold (71.8 GWh) and significant charging revenue growth.
Charging sessions surged 74.2% to 4.4 million, further boosted by the Mega-E acquisition. Net loss expanded to €(246.6) million due to non-cash items, despite improved operational EBITDA at €(1.5) million. The backlog reached 1,100 sites, and plans for 10% price increases effective September aim to counter rising energy costs.
Guidance for 2022 anticipates revenues between €135 million and €155 million.
Allego N.V. (NYSE: ALLG) will announce its first half 2022 results on August 22, 2022, before the market opens, followed by a conference call at 8:30 am ET. Interested participants can join via phone or watch the live webcast at this link. The replay will be accessible until September 5, 2022. Allego, founded in 2013, operates approximately 28,000 public charging ports throughout Europe, offering solutions for electric vehicles across various sectors.
Allego N.V. (NYSE: ALLG), a leading public electric vehicle fast-charging network, announced participation in the 'Plugged-In: A Panel on EV Charging' at Needham's 11th Annual Virtual Industrial Tech, Robotics, & Clean Tech 1x1 Conference on August 5, 2022, at 9:00 am ET. CFO Ton Louwers and CTO Alexis Galley will represent the company. Allego operates approximately 34,000 public charging ports across Europe, providing comprehensive charging solutions for various vehicles and focusing on independent, reliable, and safe services.
Allego (NYSE: ALLG) expanded its senior bank facility by €50 million, increasing total access to growth capital to €170 million. This facility is supported by Société Générale, Kommunalkredit Austria, and SCOR Investment Partners, expiring in May 2026. The company is pursuing a new expanded financing package to secure funding for around two and a half years of backed projects, expecting to finalize this by fall 2022. Meridiam, Allego's majority shareholder, continues to support its long-term growth strategy focused on providing 100% green energy.
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