Allego Results Presentation Deck

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#1Allego, a leading European public EV fast charging network Allego Enabling green electric mobility First-Half 2022 Earnings Presentation LJ 150 Allego E allego#2Disclaimer. All statements other than statements of historical facts contained in this presentation are forward-looking statements. Allego N.V. ("Allego") intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as "believe," "may." "will," "estimate," "continue," "anticipate," "intend," "expect," "should." "would," "plan,", "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," "target" or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, Allego's expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) changes adversely affecting Allego's business, (ii) the risks associated with vulnerability to industry downturns and regional or national downturns, (iii) fluctuations in Allego's revenue and operating results, (iv) unfavorable conditions or further disruptions in the capital and credit markets, (v) Allego's ability to generate cash, service indebtedness and incur additional indebtedness, (vi) competition from existing and new competitors, (vii) the growth of the electric vehicle market, (viii) Allego's ability to integrate any businesses it may acquire, (ix) Allego's ability to recruit and retain experienced personnel, (x) risks related to legal proceedings or claims, including liability claims, (xi) Allego's dependence on third-party contractors to provide various services, (xii) Allego's ability to obtain additional capital on commercially reasonable terms, (xiii) the impact of COVID-19, including COVID-19 and other related supply chain disruptions and expense increases, (xiv) general economic, regulatory or political conditions, including the armed conflict in Ukraine and (xv) other factors detailed under the section entitled "Item 3.D. Risk Factors" of Allego's Annual Report on Form 20-F for the year ended December 31, 2021 and in Allego's other filings with the U.S. Securities and Exchange Commission (SEC). The foregoing list of factors is not exclusive. If any of these risks materialize or Allego's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego presently does not know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego's expectations, plans or forecasts of future events and views as of the date of this presentation. Allego anticipates that subsequent events and developments will cause Allego's assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego's assessments as of any date subsequent to the date of this presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. INDUSTRY AND MARKET DATA Although all information and opinions expressed in this presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Allego has not independently verified the information and makes no representation or warranty, express or implied, as to its accuracy or completeness. Some data is also based on the good faith estimates of Allego, which is derived from its review of internal sources as well as the independent sources described above. This presentation contains preliminary information only, is subject to change at any time and, is not, and should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your investment with Allego. FINANCIAL INFORMATION; NON-IFRS FINANCIAL MEASURES Some of the financial information and data contained in this presentation, such as EBITDA, Operational EBITDA and free cash flow, have not been prepared in accordance with Dutch generally accepted accounting principles, United States generally accepted accounting principles or the International Financial Reporting Standards (IFRS"). We define (i) EBITDA as earnings before interest expense, taxes, depreciation and amortization, (ii) Operational EBITDA as EBITDA further adjusted for reorganization costs, certain business optimization costs, lease buyouts and transaction costs and (iii) free cash flow as net cash flow from operating activities less capital expenditures. Allego believes that the use of these non-IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Allego's financial condition and results of operations. Allego's management uses these non-IFRS measures for trend analyses, for purposes of determining management incentive compensation and for budgeting and planning purposes. Allego believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Allego's financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. Management does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses and income that are required by IFRS to be recorded in Allego's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, management presents non-IFRS financial measures in connection with IFRS results and reconciliations to the most directly comparable IFRS measure are provided in the Appendix to this presentation. TRADEMARKS AND TRADE NAMES Allego owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with Allego or an endorsement or sponsorship by or of Allego. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear with the Ⓡ, TM or SM symbols, but such references are not intended to indicate, in any way, that Allego will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks and trade names. CERTAIN RISKS RELATED TO ALLEGO All references to the "Company." "Allego," "we," "us," or "our" in this presentation refer to the business of Allego. The risks presented below are certain of the general risks related to Company's business, industry and ownership structure and are not exhaustive. The list below is qualified in its entirety by disclosures contained in Allego's Annual Report on Form 20-F for the year ended December 31, 2021, as filed with the SEC. These risks speak only as of the date of the presentation, and we have no obligation to update the disclosures contained herein. The risks highlighted in future filings with the SEC may differ significantly from and will be more extensive than those presented below. ● Allego is an early stage company with a history of operating losses, and expects to incur significant expenses and continuing losses for the near term and medium term. Allego has experienced rapid growth and expects to invest substantially in growth for the foreseeable future. If it fails to manage growth effectively, its business, operating results and financial condition could be adversely affected. Allego's forecasts and projections are based upon assumptions, analyses and internal estimates developed by Allego's management. If these assumptions, analyses or estimates prove to be incorrect or inaccurate, Allego's actual operating results may differ adversely and materially from those forecasted or projected. Allego's estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and Allego's growth and success is highly correlated with and dependent upon the continuing rapid adoption of EVs. Allego currently faces competition from a number of companies and expects to face significant competition in the future as the market for EV charging develops. Allego may need to raise additional funds or debt and these funds may not be available when needed. If Allego fails to offer high-quality support to its customers and fails to maintain the availability of its charging points, its business and reputation may suffer. Allego relies on a limited number of suppliers and manufacturers for its hardware and equipment and charging stations. A loss of any of these partners or issues in their manufacturing and supply processes could negatively affect its business. Allego's business is subject to risks associated with the price of electricity, which may hamper its profitability and growth. Allego is dependent on the availability of electricity at its current and future charging sites. Delays and/or other restrictions on the availability of electricity would adversely affect Allego's business and results of operations. Allego's EV driver base will depend upon the effective operation of Allego's EVCloudTM platform and its applications with mobile service providers, firmware from hardware manufacturers, mobile operating systems, networks and standards that Allego does not control. If Allego is unable to attract and retain key employees and hire qualified management, technical, engineering and sales personnel, its ability to compete and successfully grow its business would be harmed. Allego is expanding operations in many countries in Europe, which will expose it to additional tax, compliance, market, local rules and other risks. Members of Allego's management have limited experience in operating a public company. New alternative fuel technologies may negatively impact the growth of the EV market and thus the demand for Allego's charging stations and services. The European EV market currently benefits from the availability of rebates, scrappage schemes, tax credits and other financial incentives from governments to offset and incentivize the purchase of EVs. The reduction, modification, or elimination of such benefits could cause reduced demand for EVs and EV charging, which would adversely affect Allego's financial results. Allego's business may be adversely affected if it is unable to protect its technology and intellectual property from unauthorized use by third parties. Allego's technology could have undetected defects, errors or bugs in hardware or software which could reduce market adoption, damage its reputation with current or prospective customers, and/or expose it to product liability and other claims that could materially and adversely affect its business. The exclusive forum clause set forth in Allego's Warrant Agreement may have the effect of limiting an investor's rights to bring legal action against Allego and could limit the investor's ability to obtain a favorable judicial forum for disputes with us. Future sales, or the perception of future sales, of Allego's ordinary shares and warrants by Allego or selling securityholders, including Madeleine Charging B.V. ("Madeleine"), which is indirectly beneficially owned by Meridiam SAS, could cause the market price for Allego's ordinary shares and warrants to decline significantly. Madeleine owns a significant amount of Allego's voting shares and its interests may conflict with those of other shareholders. Allego> 2#3Overview & Key Highlights Mathieu Bonnet, CEO Allego 150 Allego Alleg#4Business Model Overview Own & Operate Build, own and operate Ultra-Fast and Fast charging sites Operator of one of the largest pan-European public EV charging networks Owned Public Charging Ports Breakdown ¹,2 Fast 778 AC 22,962 Ultra-Fast Allego> 515 Allamo™ & Allego EV Cloud™ Proprietary Software Platforms Allego> Allego> Uptime and Performance Report All Countries or Select Downtime per Socket (h) Ava Sacher Day by Uptime incl. Open Incidents Downtime per Socket thi 98,34% com Overall Uptime Avy day A 31218 22% w Ope DENMA SWITZERLAND 143 04/12/17 041352 04/12/17 0400 15 04/12/27040622 04/12/17 (85452 04/22/170531 04/12/17 035143 04/02/27034813 04/12/17 034540 29 dargebodenty statn 1 DEALLEGO000706 Fauted 0 MLALLEGO000577 Taited 1 NLALLEGO000291 Fauted 1 DEALLEGO000706 Fautel 1 DEALLEGO000706 Failed NALLEGO00000 Fauted MALLEG0000714 Faulted DEALLEGO000721 Faulted 1 NALLEG0000099 Fauted AllamoTM software identifies premium charging sites and forecasts demand using external traffic statistics Proprietary software allows compatibility and an optimized user experience for all EV drivers Through Allego EV CloudTM, provides software solutions for EV charging owners, including payment and achieving high uptime Other Em Connectortodfal PowerSchalke Othe four Othe-Eme Malu PowerSale Othe PowerMa High Value Services Offering NISSAN Carrefour Attractive, high margin third-party service contracts Services include site design and technical layout, authorization and billing, and operations & maintenance Third-Party Public Charging Ports Breakdown¹ Fast Ultra-Fast 479 AC 4,770 Allego's proprietary energy platform sourcing green energy from multiple suppliers and even directly from renewable assets enables: Flexibility to choose optimal sourcing for our charging stations Long-term sustainable price for its charging Ability to secure long-term PPA with renewable Reduced volatility from energy market 1. Charging ports are defined as the number of sockets on a charger that is simultaneously accessible for charging; 2. Only includes public chargers. Inclusive of Mega-E Source: Company information as of June 30, 2022. 194#5Allego Energy Management All Systems on go. With Allego Allego has developed an energy platform that enables 23 Supplying its own electricity to its chargers in the main European countries where it operates 3 Trading electricity on power exchanges automatically, based on the forecasts of the charger's consumption Directly connecting renewable assets in order to supply power directly Allego can: Determine the most efficient way to supply its chargers in terms of price and sustainability, i.e., green energy Secure long-term Power Purchase Agreement (PPA) with renewable producers (Typically a 10-year contract) to lower its supply costs and secure long-term green energy Provide sustainable energy to its EV drivers and enable the development of assets by providing long-term off-take to renewable developers Mitigate price volatility and increase thanks to the majority of Allego energy being supplied by long-term PPA from 2023 Secure and enhance its margin through this long-term strategy based on technology and deep knowledge of the energy market Allego> Enabling renewable forecasts to supply remaining power if needed Developing ancillary services for grid operators as reserves of capacity; new revenue source New Opportunities With the increase of Allego chargers, demand responses will bring new business opportunities and help develop the energy transition currently underway in Europe. 5#6First Half 2022 Highlights FINANCIAL HIGHLIGHTS (UNAUDITED) ● Revenue of €50.7 million (+148% y-o-y) Charging revenue increased 118%, benefitting from improvements across all key measures Service revenue rose 184%, driven primarily by the Carrefour contract 71.8 GWh of Total Energy Sold, increased by 105.2% > The average Utilization Rate² nearly doubled to 8.3% > The total # of Charging Sessions climbed 74.2%¹ Net loss of €(246.6) million, vs. €(143.8) million in 1H21 > Operational EBITDA of €(1.5) million vs. €(3.8) million loss in 1H21 $ Allego> OPERATIONAL HIGHLIGHTS Acquired Modélisation, Mesures et Applications S.A. ("MOMA"), an R&D technological platform, to maintain a technological edge and market leadership Exercised the option on Mega-E, adding more than 100 sites and nearly 770 charge ports, mainly fast-and-ultra-fast, consistent with the company's strategic focus Expanded strategic partnership with ATU to equip an additional 400 ATU branch locations with e-charging stations Partnered with G&V Energy Group to install ultra-fast electric vehicle charging stations at 100 G&V fuel stations across Belgium Y-O-Y-backlog of fast-and-ultra-fast chargers increased to 1,100 sites from 500, equating to 2.5 years of deployment activity Source: Company information. Financial Information is unaudited. 1. Including third-party sites, the total charging sessions amounted to 4.4 million. 2. Utilization rate, a key performance measure, is defined as the number of charging sessions per charge point per day divided by a maximum number of charging sessions per day 50 (for the ultra-fast charging pole). Inclusive of Mega-E. 6#7MOMA Fosters Allego's Technological Edge Allego 01 02 Alleg3> MOMA AT A GLANCE R&D technological company with expertise in software platforms Solid capabilities in developing Electronic devices ● Mathematical modeling Development of our EV Cloud platform ● Data Management Get access to top-notch software developers and critical technologies Industrial software development MOMA HAS BEEN AN IMPORTANT PARTNER FOR ALLEGO FOR SEVERAL YEARS Development of an improved charging experience for users €9mm Boost our IP and technology in the EV space Sales 2021 Source: Company information 40 Engineers, developers & PhDs in mathematics FULLY CONTROL IMPORTANT TECHNOLOGY DIFFERENTIATORS Increase Allego's capability in Internet of Things ("loT") technologies Management of energy both at the site level and more globally at the level of the company with world-class demand response capability Elevate customer experience 7#8Allego's Exercise of Mega-E Purchase Option Fast-Tracks its Strategic Focus MEGA-E OVERVIEW 01 MEGA-E (Metropolitan Greater Areas Electrified) is the first large-scale Pan- European ultra-fast Allego initiative focusing on corridors Scope of Mega-E Project: 350kW Ultra-fast chargers Allego> -322 Sites 02 In July 2022, Allego exercised the purchase option to acquire MEGA- E assets to propel its strategic focus on fast- and-ultra-fast chargers. Source: Company information (1) Includes Mega-E. 12 Countries across EU TRANSACTION OVERVIEW -770 ports across 100+ sites primarily fast and ultra-fast added Enhances Allego's strategic focus on fast and ultra-fast chargers and the roll-out of its growth plans Management commentary "I am very pleased to see the continued strength of our charging network as utilization rates increase, driven by expanding adoption of EVs throughout Europe, coupled with our strategic partnerships with OEMs, fleets, and premium retail locations, providing highly convenient access for consumers. The addition of Mega-E enhances Allego's position in fast and ultra-fast chargers, and together with an 8.3% ¹ utilization and 99.5% up-time across our network, we provide a seamless experience for our customers." -MATHIEU BONNET, CEO, ALLEGO 8#9European EV Charging Market is Larger and Growing Faster than the U.S. E.U. Signing Ban of ICE Vehicle Sales by 2035 Further Underpins Significant Growth Opportunity EU + UK vs. US Market Comparison (2021A-2025E) High urbanization rate MTT Regulation across Europe is accelerated relative to the US Scarcity of in-home parking in dense cities Allego> Significant interurban traffic 01 02 Continued Positive Industry Tailwinds EV Car Parc¹ Fast charging is essential to the widespread adoption of EVs CAGR: 41% (in TWh) 6.0 24.0 EU + UK CAGR: 94% 0.6 Public Fast Charging Power Demand - SAM Public charging is expected to increase faster in Europe than the US (in mm of units) ~8.5 EU + UK CAGR: 50% 2.0 US CAGR: 63% ~0.8 US 10.0 Source: BNEF (1) Defined as fleet of battery electric vehicles and plug-in hybrid electric vehicles, excluding buses and trucks. ~5.6 2021A 2025E#10Secured Sites Backlog Totals 1,100¹ compared to 500 as of June 30, 2021 Recent partnerships and agreements secured key sites and expanded Allego's presence across Europe ATU May 31, 2022 Expanded Strategic Partnership with ATU Equip an additional 400 ATU branch locations with e- charging stations; totalling 900 charging points > Expected to be completed by 2024 groupebertrand May 25, 2022 Strategic Partnership with Groupe Bertrand > Install ultra-fast charging stations at 15 locations throughout France Allego> > 2 to 4 HPC stalls are foreseen per location; the first location is expected to go live the second half of 2022 G&V ENERGY GROUP May 18, 2022 Strategic Partnership with G&V Energy Group Source: Company information. 1) As of June 30, 2022 > Install ultra-fast charging stations at 100 fuel stations across Belgium > 12 fuel station installations will be realized in second half of 2022; all to be completed by 2024 TAMOIL March 03, 2022 Strategic Agreement Tamoil Italia > Develop 11 ultra-fast and fast charging locations throughout Italy Lease contract is for a 25-year term AGENTSCHAP WEGEN & VERKEER Jan 22, 2022 Flanders Highways Win 28 ultra-fast charging sites along major highways in Flanders in 2022 This will double to 56 sites by 2024 VINCI AUTOROUTES Jan 21, 2022 5 Highway Locations on France's A355 Autoroute > 5 ultra-fast charging locations; the first of which is now open with 8 charging spots (6 ultrafast and 2 fast) NISSAN Dec 21, 2021 Strategic Partnership with Nissan Long-term partnership in 16 countries and across 600+ locations, to install, operate, and maintain DC fast chargers 10#111 8 Financials Ton Louwers, CFO 1 BE JAGUAR RUMORES Westfalen Autowäsche 11#12First Half 2022 Operating Metrics Reflect Market Inflection Increase in Total Energy Sold (in GWh) 30.3 2019 3.0% +~175% 2019 48.0 Allego> 2020 -2.0x Utilization Rate on UFCs Almost Doubled vs. pre-COVID 3.5% 87.3 2020 2021 5.5% 35.0 2021 1H21 4.3% +-105% 1H21 -2.0x 71.8 1H22 8.3% 1H22 Source: Company information. (1) Utilization rate, a key performance measure, is defined as the number of charging sessions per charge point per day divided by a maximum number of charging sessions per day of 50 (for the ultra-fast charging pole). Inclusive of Mega-E. 01 02 Robust Growth in Charging Revenue Total energy sold during the quarter was 71.8 GWh, an increase of 105% over 1H21, as was 100% green ● Charging revenue partially benefitted from the acquisition of Mega-E assets, adding more than 100 sites and nearly 770 charge ports, mainly fast-and-ultra-fast ● Energy sold per charging session showed robust growth from the availability of a greater number of vehicles with larger batteries Utilization Showing Continued Acceleration Utilization rate¹ nearly doubled to 8.3% (4.15 sessions per charger per day) from 4.3% in the same period in 2021. New partnerships with blue-chip customers further strengthen the footprint in 15 European countries. Acquisition of MOMA enhances technological edge, customer experiences, and energy management technology 12#13Increasing Demand and Elevated Visibility Total Number of Charging Sessions (in mm) 1.7 2018 +~259% 79% 3.0 2019 User Track Record on Allego's Network² (in % recurring users) 2019 2020 2021 82% 3.7 6.1 2020 Allego> 2021 2.6 80% illll 1H21 (1) (2) (3) 82% 1H21 Source: Company information. +-74% 4.4 1H22 80% 1H22 Total number of charging sessions for both company-owned and third-party sites BNEF, August 18, 2022 All customer data is tracked through the ID cards/tokens used on Allego's network and required for invoicing 01 02 Charging Sessions Increasing with Higher Density of EVs ● ● Allego's network handled over 4.4 million¹ total charging sessions in 1H22 through its EV Cloud platform (+74% YoY) ● Europe EV penetration in 1H22 increased 500 bps to 21.5% YoY, supporting the mega-trend of EV charging Development of Smart Charging Capacity provides opportunities for ancillary services Allego's network continues to experience strong customer loyalty with an approximately 80% recurring rate per month³ Connect to renewal sources to supply "green energy" to its chargers Develop ancillary services for grid operators as reserve capacity Allow selling excess capacity in the open market 13#14Natural Gas Prices Expected to Normalize over Time Gas Dutch TTF prices (€/MWh) €250 €200 €150 €100 €50 €0 Jan-21 -Spot price Jul-21 Allego> Jan-22 Jul-22 Source: Bloomberg, ICE, ECB - Forward rve 2023 2024 2025 2026 01 02 03 04 Natural gas spot prices have increased 135% since late February to €196/MWh Implemented price increase January's 17% price increase experienced no impact on utilization or recurring customer rates ● Finalizing long-term Power Purchase Agreements (PPAs) from renewable sources ● Announced a 10% price increase effective September 1st, and actively monitoring market ● Locking in a significant portion of future energy demand to support strong growth Creating a stable cost base leading to more consistent margins despite future volatility in commodity prices Income from the sale of carbon credit certificates provides a meaningful natural hedge over the intermediate term Extensive supplier relationships and European sourcing has limited the impact of supply-chain and hardware price pressures 14#15Significant Growth Buoyed by Strong Fundamentals Revenue (in €mm) € 60 € 40 € 20 € 0 ■Charging € 20.4 9.4 11.0 1H21 Allego> Services € 50.7 26.7 24.0 1H22 Operational EBITDA (in €mm) € 10 (€ 10) Source: Company information. (€ 3.8) 1H21 (€ 1.5) 1H22 01 02 03 Revenue of €50.7 million (+148% y-o-y) Charging revenue increased 118%, benefitting from improvements across all key measures Service revenue rose 184%, driven primarily by the Carrefour contract Operational EBITDA €(1.5) million, driven by: ● Income from the sale of carbon credit certificates rose to €4.9 million from €2.9 million owing to higher energy costs Higher energy costs, driven by geopolitical events since February negatively impacted operational EBITDA by €7.1 million Continued momentum in July and secured backlog provides strong forward visibility 15#16Strong Revenue Visibility Total Allego Owned Fast and Ultra-Fast Charging Ports! from Secured Backlog and Pipeline Operational Secured expansion Future expansion plans Allego> Existing Presence -900 Sites # of ports (1) Reflects the exercise of Mega-E purchase option. Source: Company Information, Data as of June 30, 2022. 1,293 Public fast rging ports in operation Utilization trend validated Secured Backlog -1,100 Sites 7,893 ~6,600 Backlog up -46% since 1,000 Additional Sites year-end 2021 and 120% vs. prior-year period 10- to 15-year leases or MOUS have been signed for premium sites Exclusivity secured Pipeline 13,893 ~6,000 O Additional premium sites identified Exclusivity in discussion 16#17As an EU Green Taxonomy-Eligible "Asset Generator," Allego has Access to the Green Infrastructure Financing Market Ⓡ Allego and Meridiam closed the first-of-its-kind special purpose project finance vehicle for EV charging infrastructure in partnership with Carrefour >2,000 fast and ultra-fast EV charge points Green Loan at an attractive cost of capital at EURIBOR + 3.5% < 200 locations across France Attractive, non-recourse and first-of-its-kind for a European charge point operator >12 years operate and maintain the network Source: Company information. Illustrates ability to secure significant third-party capital to expand network Meridiam for people and the planet (6 Carrefour Santander SOCIETE GENERALE LA BANQUE POSTALE Allego has robust access to third-party capital to expand its network and de-risk its business plan BBVA Allego> ARKEA BRED+X BANQUE POPULAIRE CCRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK 17#18Accelerated Operational Momentum in July Total Energy Sold 12.3 GWh 80% YoY Utilization rate N ~ 11.5%, up 540 bps YoY Allego> [Total Charging Sessions Increased 61% YoY User recurrency per month Approximately 80% 300kw Allego Source: Company information. Note: Utilization rate of UFC calculated based on a total capacity of 50 sessions per day per charger and is inclusive of Mega-E. +41 ZB65-G CAR TEA 18#19Capital Structure and Guidance 150 Allego Allego alexc Capital Structure 01 Increased existing credit facility in July through a €50 million accordion feature, now totaling €170 million Guidance for Full Year 2022 > Total energy sold: 150 GWh - 160 GWh Revenue: €135 million - €155 million Operational EBITDA: Positive Guidance as of 8/22/2022 02 On track to close a new and expanded €350 - € 400 million credit facility in early fall to support the significant backlog 19#209E SD O Appendix Financial Statements Reconciliation 20#21Reconciliation of Non-IFRS Financial Measures (in €mm) (unaudited) Loss for the period Income tax Finance costs Amortization and impairments of intangible assets Depreciation and impairments of right-of-use assets Depreciation, impairments and reversal of impairments of property, plant and equipment EBITDA Fair value gains / (losses) on derivatives (purchase options) Share-based payment expenses Transaction costs Bonus payments to consultants Lease buyouts Business optimization costs Reorganization and Severance Operational EBITDA Cash generated from operations Capital expenditures Proceeds from investment grants Free cash flow Allego> 1H2022 (246.6) 0.2 (15.1) 1.7 2.9 5.9 (251.0) (3.8) 241.3 9.1 2.9 (1.5) 1H2021 (143.8) 0.6 7.3 1.3 0.9 3.5 (130.2) (0.2) 121.9 4.6 (3.9) 2021 (319.4) 0.4 15.4 2.7 3.4 5.6 (292.2) (2.9) 291.8 11.8 0.6 0.1 9.2 (9.2) (15.6) 1.7 (23.1) 2020 (43.4) (0.7) 11.3 3.7 1.8 4.8 (22.5) 7.1 0.1 1.8 3.8 (9.7) (34.4) (18.4) 3.2 (49.6) 2019 (43.1) 0.3 5.9 2.3 1.3 4.7 (28.6) 0.8 (27.8) (56.9) (17.0) 3.3 (70.6) 21#22Allego> > keep driving forward 22

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