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 has exercised a purchase option for Mega-E, bolstering its focus on fast and ultra-fast EV chargers. In Q2 2022, utilization rate soared to 9.0%, up from 4.6% year-over-year. Total energy sold reached 37.4 GWh, a 102.1% increase, with 2.3 million charging sessions, a 66% rise. The company has a backlog of about 1,100 sites, enhancing visibility and profitability. The European Parliament's ban on internal combustion engine vehicles by 2035 provides a favorable backdrop for Allego's growth in the EV charging sector.
Allego N.V. (NYSE: ALLG), a leading electric vehicle fast-charging network in Europe, announced CEO Mathieu Bonnet's participation in upcoming investor events. These include the Shareholder Equity Conference on July 11, 2022, at 12:00 pm ET, available via live webcast, and the IPO Edge event on July 12, 2022, at 11:00 am ET, with registration details provided. Allego operates approximately 33,000 public charging ports across Europe, delivering comprehensive charging solutions for electric vehicles, ensuring accessibility for consumers, businesses, and municipalities.
Allego N.V. (NYSE: ALLG) reported a remarkable first quarter of 2022 with a revenue increase of 221% to €30.5 million, driven by a substantial rise in charging sessions and services revenue. Charging revenue surged 105% year-over-year to €10.4 million, with charging sessions nearly doubling to 1.6 million. However, the company faced a significant net loss of €350.9 million. Despite this, Operational EBITDA turned positive at €1.5 million, reflecting resilience against inflationary pressures.
Allego (NYSE: ALLG) has entered a strategic partnership with ATU to enhance the EV charging infrastructure in Germany. The agreement entails the installation of 400 fast charging stations across ATU locations, with a total of approximately 900 charging points. Allego will invest a mid-double-digit million sum for this project, starting with 85 locations this year. The rollout is expected to start by the end of 2024, improving access to high-power charging services. This move aligns with both companies' commitment to expanding e-mobility services and sustainable transport solutions.
Allego N.V. (NYSE: ALLG) announced its participation in several investor conferences throughout June 2022, focusing on electric vehicle charging solutions. Key events include the Bank of America EV Charging Summit on June 6, the JP Morgan European Automotive Conference on June 7 in London, and the Deutsche Bank Global Auto Industry Conference on June 15 in New York. Allego operates approximately 31,000 public charging ports across Europe and promotes independent, reliable EV charging solutions through its proprietary platform, EV-Cloud.
Allego (NYSE:ALLG) has announced a partnership with Groupe Bertrand to install 15 Ultra-Fast Charging Hubs across France by mid-2023. This collaboration aims to enhance the electric vehicle (EV) charging infrastructure in the region, with plans for 2-4 high power charging (HPC) stalls at each location. Currently, Allego operates 175 chargers in France and is expanding its network to 2,000 charging points in Carrefour hypermarkets. This partnership positions Allego as a leading destination charging provider in the French market.
Allego has announced a strategic partnership with G&V Energy Group to develop a network of 100 Ultra-Fast Electric Vehicle charging stations across Belgium by 2024. The project will initially deliver 12 locations this year, supported by European Union co-financing. Currently, Allego operates over 5,000 public AC charging points and 63 DC fast chargers in Belgium. This collaboration aims to strengthen Allego's existing network and facilitate sustainable charging solutions for electric vehicles, addressing climate change challenges.
Allego (NYSE: ALLG) reported a 95% increase in 2021 revenues to €86.3 million, driven by a 65% rise in charging sessions and strong demand. Charging revenue grew 75%, while services revenue surged 105% due to B-to-B solutions. A net loss of €319.7 million was recorded, reduced from €434.0 million in 2020, with operational EBITDA turning positive at €9.2 million. By year-end, utilization rates reached 7.6%, and Allego secured a backlog of 800 premium sites for future growth.
Allego (NYSE: ALLG), a prominent electric vehicle charging network, announced that CFO Ton Louwers will present at the 2022 Bank of America Global Automotive Summit in New York on April 12, 2022, at 2:50 pm ET. The company will also hold one-on-one meetings on the same day, with scheduling arranged through BofA Securities. Allego boasts around 28,000 public charging ports across Europe and offers comprehensive charging solutions for various electric vehicles. A webcast of the event will be accessible online, with a replay available post-presentation on Allego's Investor Relations website.
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