Alfen NV
AEX:ALFEN
Alfen NV
Alfen NV is a holding company, which engages in the development, production, and sale products, systems and services related to the electricity grid. The company is headquartered in Almere, Flevoland and currently employs 683 full-time employees. The company went IPO on 2018-03-22. The firm is active in three business lines: Smart Grids, which supplies standardized electricity grid connection systems, secondary transformer substations, local power grids, devices for grid automation, as well as software and back-end systems for remote management and grid control; Energy Storage, responsible for development and installation of modular energy storage systems under the brand TheBattery, which are used by utilities, grid operators, energy traders and industrial companies, among others, and Electric Vehicle (EV) Charging, which supplies EV charge points in a variety of capacities and functionalities for use at home, work and in public areas. In addition, Alfen offers service, management and maintenance activities, including remote support and monitoring, as well as an in-house technological know-how center.
Alfen NV is a holding company, which engages in the development, production, and sale products, systems and services related to the electricity grid. The company is headquartered in Almere, Flevoland and currently employs 683 full-time employees. The company went IPO on 2018-03-22. The firm is active in three business lines: Smart Grids, which supplies standardized electricity grid connection systems, secondary transformer substations, local power grids, devices for grid automation, as well as software and back-end systems for remote management and grid control; Energy Storage, responsible for development and installation of modular energy storage systems under the brand TheBattery, which are used by utilities, grid operators, energy traders and industrial companies, among others, and Electric Vehicle (EV) Charging, which supplies EV charge points in a variety of capacities and functionalities for use at home, work and in public areas. In addition, Alfen offers service, management and maintenance activities, including remote support and monitoring, as well as an in-house technological know-how center.
Revenue Growth: Alfen reported Q3 2021 revenue of EUR 60.6 million, up 21% from the previous year.
Profitability: Adjusted EBITDA increased to EUR 9.7 million, or 16% of revenue, driven by operational leverage.
Margins: Gross margin was 36.9%, slightly below last year but up from the first half of 2021.
EV Charging Surge: EV charging equipment revenue grew 123% year-on-year, with over 60% of sales outside the Netherlands.
Energy Storage Weakness: Energy storage system revenue fell 62% due to decision-making delays, but the project pipeline has more than tripled.
Smart Grid Delays: Smart Grid Solutions saw only modest growth, with project and grid connection delays impacting revenue recognition.
Guidance Reiterated: Management reconfirmed full-year revenue guidance of EUR 225–250 million.
Supply Chain Pressures: Ongoing supply chain constraints and rising costs remain a challenge, with no near-term easing expected.
