Alfen Nv · EURONEXT:ALFEN
Alfen Nv — Shareholder Meeting (April 2024)
42 slides from Alfen Nv's shareholder meeting presentation, Apr 9, 2024
Slide 1: Annual General Meeting of Shareholders 2024
Annual General Meeting of Shareholders 2024 Almere, the Netherlands 9 April 2024 1
Slide 2: Disclaimer
Disclaimer This communication may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. These forward- looking statements may be identified by the use of forward-looking terminology, including the terms such as guidance, expec
Slide 3: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 4: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 5: Your hosts for today
Your hosts for today Supervisory Board Management Board Marco Roeleveld Jeroen van Rossen Michelle Lesh CEO CFO CCO 5
Slide 6: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 7: 2023 highlights, Setting the stage for growth, Financials and outlook
1 2023 highlights 2 Setting the stage for growth 3 Financials and outlook 7
Slide 8: Alfen's highlights of 2023
Alfen’s highlights of 2023 • 2023 revenue grew 15% to €504.5m compared with FY 2022 (€439.9m). Balanced business line contributions: Smart Grid Solution: (37%), Energy Storage Systems (32%) and EV Charging Equipment (31%). • Adjusted EBITDA of €57.1m represents 11.3% of revenue, with improving trend
Slide 9: Alfen's 2023 revenues exceed €0.5 billion with balanced business line contributions
Alfen’s 2023 revenues exceeds €0.5 billion with balanced business line contributions Revenues and other income Energy storage (€ million) • 2023 revenues were €163.0m, a 258% growth compared with €45.5m in 2022. • TheBattery Elements has more projects in the execution phase and the average project s
Slide 10: Adjusted EBITDA of €57.1m represents 11.3% of revenue
Adjusted EBITDA of €57.1m represents 11.3% of revenue, with improving trend throughout 2023 Adjusted EBITDA 2022 vs 2023 €79.4m €57.1m • Adjusted EBITDA amounted to €57.1m, a decrease of 28.1% versus €79.4m in financial year 2022. 2022 2023 • EBITDA adjustments in financial year 2023 amounted to €1.
Slide 11: Some highlights from 2023 on our Sustainability agenda
Some highlights from 2023 on our Sustainability agenda Direct impact Future impact 99% CSR-D of 2023 revenue aligned with EU Taxonomy. Strategic program in place to implement Corporate Sustainability Reporting Directive under direct supervision of Management Board. 374,000 SBTi households can be sup
Slide 12: 2023 highlights, Setting the stage for growth, Financials and outlook
1 2023 highlights 2 Setting the stage for growth 3 Financials and outlook 12
Slide 13: Markets keep on developing favourably for all our business lines
Markets keep on developing favourably for all our 3 business lines, from which Alfen expects to profit Smart grids EV charging Energy storage Annual substation investments Dutch DSOs1 Annual installed EV charge points in Europe2 Annual installed energy storage capacity in (# of new substations) (# o
Slide 14: Alfen remains leading among its EV charging peers in Europe in 2023
Alfen remains leading among its EV charging peers in Europe in 2023 Comparison revenue movement competitors, in million euro Insights 80 • Alfen remains leading among peers in 70 Europe in 2023 60 • Alfen scaled faster in 2022 and therefore experienced a more profound destocking 50 challenge in 2023
Slide 15: Alfen continues to drive internationalisation
Alfen continues to drive internationalisation Growing international revenues 2018 Alfen’s revenues outside of the Netherlands (within Europe) 2019 (in € millions and as % of group revenues) 2018 CAGR +53% 222.7 212.0 95.8 51% 61.4 42% 24.9 39.1 2014 32% 38% 15% 27% 1937 2020 2018 2019 2020 2021 2022
Slide 16: Revenue growth was underpinned by many (international) commercial successes
Revenue growth was underpinned by many (international) commercial successes EV charging Smart grids Energy storage • Equipped large parking lots through • Continued delivery to the large • Continued rollout of BESS projects at our partners with Alfen chargers Dutch grid operators new locations for e
Slide 17: Alfen keeps investing in innovation across all business lines
For that reason, Alfen keeps investing in innovation across all business lines Selected examples of innovations in 2023 Made significant steps in developing AFIR-compliant public chargers EV charging Further developed the Alfen Eve Connect app for the home segment Completed the product development f
Slide 18: Alfen continues to invest for further growth
Alfen continues to invest for further growth Alfen expanded its personnel Example from Operational Alfen is constructing our new across the company from Excellence program: headquarters / production 787 FTE on average in 2022 facility that is located next to Alfen implemented an integral our existin
Slide 19: 2023 highlights, Setting the stage for growth, Financials and outlook
1 2023 highlights 2 Setting the stage for growth 3 Financials and outlook 19
Slide 20: Income statement
Income statement In € ‘000 2023 2022 Revenue and other income 504,477 439,876 • Revenue and other income increased 15% from €439.9m in 2022 to EV charging 153,120 251,761 €504.5m in 2023, due to continued growth in Smart Grids Solutions (+32%) and Energy Storage Systems (+258%). EV Charging declined
Slide 21: Balance sheet
Balance sheet In € ‘000 31 Dec 31 Dec 2023 2022 Non-current assets 81,468 58,678 • Capital expenditure amounts to €34.7m (or 6.9% of revenues) Current assets 314,501 262,396 compared to €21.0m (or 4.8% of revenues) in 2022. CapEx includes acquiring a new building, with a purchase price of €10.0m, at
Slide 22: Increase in working capital primarily related to increased stock levels
Increase in working capital primarily related to increased stock levels and strategic stock down payments Working capital increased to €128.1m versus 31 Dec 2023 30 Jun 2023 31 Dec 2022 €87.6m at 31 December 2022. The increase In € millions (Audited) (Unaudited) (Audited) in working capital is prima
Slide 23: 2024 outlook
Alfen expects the markets for all business lines to continue to develop favourably, driven by the increased momentum in Europe’s energy transition to zero carbon. With the anticipated further growth of the business in 2024, Alfen plans to further invest in its organisation, people, production and in
Slide 24: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 25: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 26: Annual General meeting
9 April 2024 Annual General meeting Alfen N.V.
Slide 27: Audit 2023 Alfen N.V.
Audit 2023 Alfen N.V. Audit opinion Scope and materiality Unqualified audit opinion Full scope audit Alfen N.V., Alfen B.V., Alfen ICU B.V. and Alfen Elkamo Oy. Materiality: € 4.0 million Reporting threshold : € 201,000 Fraud risks Key audit matters Going Concern Management override of controls Esti
Slide 28: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 29: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 30: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 31: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 32: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 33: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 34: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 35: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 36: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 37: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 38: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 39: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 40: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
Slide 41: Agenda for today's AGM
1 Opening 2 2023 Annual Report A. Report of the Management Board for 2023 B. Remuneration Report for 2023 (advisory vote)* C. Proposal to adopt the Financial Statements for 2023* 3 Corporate governance update 4 Reservation and dividend A. Explanation of dividend and reserve policy B. Explanation of
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