Alfen published their H1 results on August 23rd.
- Revenue increased by 9% to €223.9m vs. H1 2022 (€205.5m), driven by its Energy Storage Systems (+526%) & Smart Grid Solutions (+20%) businesses, while its EV Charging business declined (-36%).
- Group gross margin at 30.5% compared with 35.3% in H1 2022, purely driven by a shift in the business line mix towards Energy Storage Systems.
- Adjusted EBITDA of €21.1m (9.4% of revenue) vs. H1 2022 €37.3m (18.1% of revenue).
Alfen maintains significant head room in its bank overdraft facility.