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Allego

We published our annual report with the 2021 results

17 May 2022

Despite a year of challenges, including the impact of the novel coronavirus, we reported 2021 results that exceeded our internal projections.

Highlights

  • 2021 reported revenues increased 95% to €86.3 million, as the number of charging sessions increased 65% over the prior year amidst our broad geographic footprint.
  • Our network delivered 83GWh of clean, 100% renewable energy in 2021, an increase of more than 77% from 2020. Therefore, our network delivered 414 million green km (258 million miles) in 2021 vs. 234 green km (145 million miles) in 2020.
  • Full-year 2021 net loss was €319.7 million, compared to the prior-year period of €434.0 million. For the first time, operational EBITDA turned positive, increasing nearly 200% to €9.2 million, driven by solid top-line growth and strong margin conversion associated with our business model.
  • Utilization rate, a key performance indicator, rose to 7.6% at year-end from 4.4% at the start of the year due to strong demand. At the 2021 level of utilization, our premium sites produce a positive internal rate of return (IRR) even without subsidies.
  • We signed signature partnerships with Carrefour and Nissan, amongst others, and closed on a first-of-its-kind project finance vehicle for EV charging infrastructure, raising €138 million in growth capital.
  • In 1Q22, utilization rate was 7.7%, a 71% increase from 4.5% year-over-year, while the total number of sessions of 2.1 million rebounded 84%, and total energy sold doubled to 32 GWh in the period. The first quarter is seasonally the lowest.
  • We maintain a secured backlog of over 800 premium sites, signed for a 10-year or longer lease terms that provide robust revenue visibility.
  • We expect to announce our first quarter of 2022 financial results and adopt a reporting cadence in-line with U.S. domiciled companies. We will make a separate announcement on the timing of the results.

Find the full press release here