News
Allego

Our first quarter results are here! 

17 Jun 2022

Today we publish our financial results for the first quarter ended March 31, 2022

Highlights

  • First quarter of 2022 revenue of €30.5 million, up 221% compared to the first quarter of 2021. The growth acceleration was driven by charging revenues more than doubling and a three-fold increase in services revenues.
  • Charging revenues benefitted from a 96% jump in the total number of charging sessions on company-owned sites to nearly 1.6 million from 0.8 million in the prior-year quarter. Including third-party sites, the charging sessions totaled 2.1 million, an increase of 118% year-over-year. The clean, we delivered 100% renewable energy increased 100% to 32 GWh from 15.9 GWh.
  • Utilization rate, a key performance indicator, was 7.7% for the quarter ended March 31, 2022, compared to 4.5% for the similar period ended March 31, 2021.
  • Operational EBITDA was positive €1.5 million in the first quarter ended March 31, 2022, compared to a loss of €0.5 million in the prior-year quarter, showing strong resilience to inflation.
  • We completed a public listing and began trading on the New York Stock Exchange on March 17, 2022.
  • Through the first two months of the second quarter 2022, We see further operational acceleration, with utilization rates of 9% versus an average rate of 4.9% in a similar prior-year period.

Our Chief Executive Officer, Matthieu Bonnet, stated, “I am pleased with our first quarter 2022 results as we continue to see strong utilization rates for our charging network. In April and May, the utilization rates reached 9% from an average of 4.9% in the two-month 2021 period, while our energy sold for the two months nearly doubled to 23 GWh, with 1.5 million total charging sessions, an increase of 71%, and a recurring customer base of 80%. Our results demonstrate underlying strong for accessible, clean EV charging as the adoption of EVs increases.”
He continued, “We are proactively working on the implementation of long-term power-purchase agreements (“PPAs”) from renewable suppliers that will significantly address our needs for the foreseeable future and smooth volatility from energy prices.”

Find the full press release here.