Filed pursuant to Rule 424(b)(3)
Registration No. 333-264056

PROSPECTUS SUPPLEMENT NO. 3

(to Prospectus dated June 6, 2022)

Allego N.V.

13,799,948 ORDINARY SHARES

Offered by Allego N.V.

68,132,943 ORDINARY SHARES

Offered by Selling Securityholders

 

 

This prospectus supplement updates and supplements the prospectus dated June 6, 2022 (the “Prospectus”), which forms a part of our registration statement on Form F-1 (No. 333-264056). This prospectus supplement is being filed to update and supplement the information in the Prospectus with information contained in our Report on Form 6-K furnished to the Securities and Exchange Commission on August 22, 2022 (the “Report”). Accordingly, we have attached the Report to this prospectus supplement.

The Prospectus and this prospectus supplement relate to the issuance by us of up to 13,799,948 ordinary shares, with a nominal value of € 0.12 per share (“Ordinary Shares”) of Allego N.V., a public limited liability company (naamloze vennotschap) governed by the laws of the Netherlands (“Allego”), that are issuable upon the exercise of 13,799,948 Warrants to purchase Ordinary Shares, which were originally Public Warrants (as defined in the Prospectus) issued in the initial public offering of units of Spartan Acquisition Corp. III (“Spartan”) at a price of $10.00 per unit, with each unit consisting of one share of Class A common stock and one-fourth of one Public Warrant. See “Prospectus Summary—Recent Developments—Business Combination” in the Prospectus.

In addition, the Prospectus and this prospectus supplement relate to the offer and sale from time to time by the selling securityholders named in the Prospectus (the “Selling Securityholders”), or their permitted transferees, of up to 68,132,943 Ordinary Shares, which includes (i) 13,700,000 Ordinary Shares that were issued in exchange for Spartan Founders Stock, originally purchased at a price of approximately $0.002 per share, upon the closing of the Business Combination (the “Business Combination”), (ii) 12,000,000 Ordinary Shares issued to a limited number of qualified institutional buyers and institutional and individual accredited investors at a price of $10.00 per Ordinary Share on the closing of the Business Combination, (iii) 41,097,994 Ordinary Shares that were issued in exchange for Allego Holding Shares (as defined in the Prospectus) to E8 Investor (as defined in the Prospectus) as compensation under the Special Fees Agreement (as defined in the Prospectus), based on a value of Allego and its subsidiaries of $10.00 per share, upon the closing of the Business Combination and (iv) 1,334,949 Ordinary Shares that were issued to AP Spartan Energy Holdings III (PPW), LLC at a price of $11.50 per share on a cashless exercise basis upon its exercise of 9,360,000 Warrants to purchase Ordinary Shares, which were originally Private Placement Warrants purchased at a price of $1.50 per Private Placement Warrant that were automatically converted into Warrants upon the closing of the Business Combination. See “Prospectus Summary—Recent Developments—Business Combination” in the Prospectus.

Our registration of the Ordinary Shares covered by this prospectus does not mean that either we or the Selling Securityholders will offer or sell, as applicable, any of the Ordinary Shares. The Selling Securityholders may offer and sell the Ordinary Shares covered by this prospectus in a number of different ways and at varying prices. We provide more information about how the Selling Securityholders may sell the Ordinary Shares in the section entitled “Plan of Distribution” in the Prospectus.

You should read this prospectus and any prospectus supplement or amendment carefully before you invest in our securities. Our Ordinary Shares and Warrants are listed on the New York Stock Exchange (“NYSE”) under the symbols “ALLG” and “ALLG.WS,” respectively. On August 19, 2022, the last reported sale price of our Ordinary Shares on NYSE was $4.44 per share and the last reported sale price of our Warrants on NYSE was $0.41.

This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any subsequent amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus, and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. The information in this prospectus supplement modifies and supersedes, in part, the


information in the Prospectus. Any information in the Prospectus that is modified or superseded shall not be deemed to constitute a part of the Prospectus except as modified or superseded by this prospectus supplement. You should not assume that the information provided in this prospectus supplement or the Prospectus is accurate as of any date other than their respective dates. Neither the delivery of this prospectus supplement, the Prospectus nor any sale made hereunder, shall under any circumstances create any implication that there has been no change in our affairs since the date of this prospectus supplement, or that the information contained in this prospectus supplement, the Prospectus is correct as of any time after the date of that information.

We are an “emerging growth company” and a “smaller reporting company” under applicable federal securities laws and will be subject to reduced public company reporting requirements.

Investing in our securities involves a high degree of risk. See the section entitled “Risk Factors” beginning on page 15 of the Prospectus.

Neither the Securities and Exchange Commission nor any other state securities commission has approved or disapproved of these securities or passed on the adequacy or accuracy of this Prospectus Supplement No. 3. Any representation to the contrary is a criminal offense.

 

 

The date of this Prospectus Supplement is August 22, 2022.


 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2022

Commission File Number: 001-41329

 

 

Allego N.V.

(Translation of registrant’s name into English)

Westervoortsedijk 73 KB

6827 AV Arnhem, the Netherlands

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


INFORMATION CONTAINED IN THIS FORM 6-K REPORT

The following exhibit is furnished herewith:

 

Exhibit No.

  

Description

99.1    Press Release, dated August 22, 2022


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Dated: August 22, 2022     ALLEGO N.V.
    By:  

/s/ Mathieu Bonnet

    Name:   Mathieu Bonnet
    Title:   Chief Executive Officer


Exhibit 99.1

 

LOGO

Allego Reports First Half 2022 Results; Creating New Technology-Enabled EV Infrastructure

 

   

Total energy sold during the first half of 2022 was 71.8 gigawatt hour (GWh), an increase of 105% over the first half of 2021; utilizing 100% green energy.

 

   

Total revenues rose 148.3% to €50.7 million during the first half of 2022, as compared to the same 2021 period; charging revenue more than doubled, and services revenue increased nearly three-fold.

 

   

Charging revenue benefited from the acquisition of Mega-E assets (consolidated as of March 17, 2022), which added more than 100 sites and nearly 770 charge ports, mainly fast-and-ultra-fast, consistent with the Company’s strategic focus.

 

   

The total number of charging sessions increased 74.2% to 4.4 million during the first half of 2022, compared to the similar 2021 period of 2.6 million.

 

   

In the first half of 2022, the average utilization rate1 nearly doubled to 8.3% from 4.3% in the same period in 2021. The momentum continued in July, with utilization at 11.5%, compared with 6.1% in the similar prior-year month.

 

   

Backlog increased to 1,100 sites, representing an increase of 120% compared to the prior-year period.

 

   

Acquired MOMA, an R&D software platform, to further solidify Allego’s technological edge to fully control the Company’s entire set of proprietary technologies and enhance its energy management.

 

   

Entered several milestone partnerships with blue-chip customers, further strengthening the Company’s footprint in 15 European countries.

 

   

Successfully exercised an accordion under the existing credit facility of €50.0 million, increasing the total facility to €170.0 million and maintaining flexibility.

ARNHEM, Netherlands, PARIS, France, and NEW YORK, New York – August 22, 2022 – Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast-charging network, today announced results for the six months ended June 30, 2022.

First half of 2022 revenue increased by 148.3% to €50.7 million, compared to €20.4 million in the first half of 2021. Charging revenues increased 118.0% year-over-year to €24.0 million due to a 74.2% increase in charging sessions to 4.4 million and price increases. Allego’s broad European footprint and the Company’s strategic locations leveraging its proprietary AllamoTM tool helped drive the increase. Allego continues to benefit from increased sales of electric vehicles (EV), with penetration rates in Europe growing by 500 basis points (bps) year-over-year to 21.5% in the first half of 2022, which is three times greater than the United States market2, driving high utilization rates of 8.3% versus 4.3% in the same 2021 period.

Total energy sold is 100% green and increased approximately 105% to 71.8 GWh in the first half of 2022, compared to 35.0 GWh in the first half of 2021, driven by the higher utilization rate of our expanding operational footprint across Europe, which is comprised of more than 34,000 public and non-public charging ports.

 

1 

Utilization rate, a key performance measure, is defined as the number of charging sessions per charge point per day divided by a maximum number of charging sessions per charger per day of 50 (for the ultra-fast charging pole).

2 

BNEF, August 18, 2022


LOGO

 

Total service revenues increased 183.7% from the ramp-up of the Carrefour project entered into in November 2021. The Carrefour project entails deploying more than 2,000 fast and ultra-fast EV charge points across over 200 locations throughout France, with an operations and maintenance contract spanning over 12 years. The Company expects the revenues from this contract to be higher in the second half compared to the first half of this year.

Net loss totaled €(246.6) million for the first half of 2022, compared to €(143.8) million in the first half of 2021, attributable primarily to non-cash one-time items. Operational EBITDA was €(1.5) million compared to €(3.8) million in the first half of 2021. The improved operational EBITDA was impacted by €7.1 million higher energy costs, partially offset by higher income generated from the sale of carbon credit certificates. Allego anticipates mitigating these cost pressures in the second half of 2022 through new arrangements from renewable sources and an average 10% price increase effective September 1, 2022 in most markets.

CEO and CFO Comments and Outlook

CEO Mathieu Bonnet stated, “Allego’s long-term revenue targets remain on track despite the inflationary headwinds raised by the geo-political events this year. The increase in the utilization rate of our ultrafast chargers highlights our winning strategy. The power purchase agreements (“PPA”) that are expected to commence in the second half of 2022 are designed to stabilize our energy supply structure and mitigate the impact of volatility in commodity prices in the future.”

Bonnet added, “On June 29, 2022, the European Parliament voted on approving a ban on selling Internal Combustion Engine (“ICE”) vehicles starting in 2035. This very important legislation, once in place, taken together with the need for European emphasis on energy independence and aggressive carbon reduction targets, we believe will continue to drive significantly higher EV penetration and propel our utilization rates. We expect the investment in charging infrastructure for the foreseeable future will power Allego’s growth throughout Europe utilizing our proprietary technology platforms leading to ample value creation for all our stakeholders.”

Allego’s Chief Financial Officer, Ton Louwers, commented, “We are fortifying our balance sheet to support a secured backlog of 1,100 premium sites, equating to about two-and-one-half years of deployment activity. We are proactively managing the supply chain, and the disruptions are minimal thus far, owing to our extensive and robust supplier partnerships with a European production base. With the expected closing of the new and further expanded credit facility in early fall and the ample availability of “green infrastructure” financings in Europe, we are confident in our ability to fund our future growth.”

Strategic Business Additions and Significant Customer Wins

 

   

Acquired Modélisation, Mesures et Applications S.A. (“MOMA”), an R&D technological platform, supporting the Company’s proprietary EV Cloud platform in June of 2022. The acquisition provides Allego with access to a team of more than 40 engineers, developers, and PhDs to further enhance the Company’s intellectual property and technological lead as for instance in chargers monitoring, or energy management while elevating the customer experience.

 


LOGO

 

   

Exercised the option to acquire Mega-E, adding more than 100 sites with nearly 770 charge ports (mainly fast-and-ultra-fast) and €88.0 million of charging assets (June 2022), consistent with the Company’s strategic focus.

 

   

Expanded the strategic partnership with ATU, a leading provider of automotive repair services in Germany, to equip an additional 400 ATU branch locations with e-charging stations (May 2022).

 

   

Partnered with G&V Energy Group, the number one independent player in the Belgium fuel stations market, to install ultra-fast electric vehicle charging stations at 100 G&V fuel stations across Belgium, which are expected to become energy hubs (May 2022).

Financial & Operational Summary:

The summary financial and operational highlights for the first half of 2022 are provided below:

 

   

Total revenues: €50.7 million

 

   

Gross Profit: €9.9 million

 

   

Net Loss: €(246.6) million

 

   

Operational EBITDA: €(1.5)million

 

   

Cash Flow from Operations: €(94.9) million

Key Metrics

 

     Six Months Ended June 30,        

Metrics(1)

   2022     2021     % Change  

Average Utilization Rate

     8.3     4.3     90.0

Public Charging Ports(2)

     29,698       25,767       15.3

# Fast & Ultra-Fast charging sites(2)

     903       748       20.7

# Fast & Ultra-Fast charging ports(2)

     1,293       1,018       27.0

Recurring users %

     80.1     81.5     -1.8

Owned Public Charging Ports(2)

     24,255       20,868       16.2

Third-Party Public Charging Ports(2)

     5,443       4,899       11.1

Total # sessions (‘000)

     4,444       2,551       74.2

Total Energy sold (GWh)

     71.8       35.0       105.1

Secured Backlog (sites) (2)

     1,100       500       120.0

 

(1)

Includes Mega-E for all periods.

(2)

As of June 30, 2022, and June 30, 2021, respectively.

July 2022 Update

In July, the total energy sold was 12.3 GWh, an increase of 80% year-over-year and utilization rate increased 540 bps to 11.5%. The recurring customer rate was steady at approximately 80%. Concurrently, higher electricity costs continue to pose a challenge. We secured long-term fixed-priced supply agreements, announced an average price increase of 10% effective September 1, 2022 in most markets and are actively monitoring the market for further actions.


LOGO

 

Guidance:

2022 Full Year Guidance Range:

 

   

Total Revenues: €135.0 million – €155.0 million

 

   

Energy Sold: 150 GWh – 160 GWh

 

   

Operational EBITDA: Positive

Conference Call Information

The Company will hold a conference call for investors at 8:30 AM Eastern Time today, Monday, August 22, 2022, to discuss its first half 2022 results. Participants may access the call at 1-877-407-9716; international callers may use 1-201-493-6779 and request to join the Allego earnings call. A live webcast will also be available at https://ir.allego.eu/events-publications.

A telephonic replay of the call will be available shortly after the call’s conclusion and until September 5, 2022. Participants may access the replay at 1-844-512-2921; international callers may use 1-412-317-6671 and enter access code 13732265. An archived replay of the call will also be available on the investor portion of the Allego website at https://ir.allego.eu/

About Allego

Allego delivers charging solutions for electric cars, motors, buses, and trucks, for consumers, businesses, and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprising approximately 34,000 public charging ports operational throughout the pan-European market – and proliferating. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives our customers and us a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient, and more enjoyable for all.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, Allego’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) changes adversely affecting Allego’s business, (ii) the risks associated with vulnerability to industry downturns and regional or national downturns, (iii) fluctuations in Allego’s revenue and operating


LOGO

 

results, (iv) unfavorable conditions or further disruptions in the capital and credit markets, (v) Allego’s ability to generate cash, service indebtedness and incur additional indebtedness, (vi) competition from existing and new competitors, (vii) the growth of the electric vehicle market, (viii) Allego’s ability to integrate any businesses it may acquire, (ix) Allego’s ability to recruit and retain experienced personnel, (x) risks related to legal proceedings or claims, including liability claims, (xi) Allego’s dependence on third-party contractors to provide various services, (xii) Allego’s ability to obtain additional capital on commercially reasonable terms, (xiii) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xiv) general economic or political conditions, including the armed conflict in Ukraine and (xv) other factors detailed under the section entitled “Item 3.D. Risk Factors” of Allego’s Annual Report on Form 20-F for the year ended December 31, 2021 and in Allego’s other filings with the U.S. Securities and Exchange Commission. The foregoing list of factors is not exclusive. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego presently does not know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this press release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

FINANCIAL INFORMATION; NON-IFRS FINANCIAL MEASURES

Some of the financial information and data contained in this press release, such as EBITDA and Operational EBITDA, have not been prepared in accordance with Dutch generally accepted accounting principles, United States generally accepted accounting principles or the International Financial Reporting Standards (“IFRS”). We define (i) EBITDA as earnings before interest expense, taxes, depreciation and amortization and (ii) Operational EBITDA as EBITDA further adjusted for reorganization costs, certain business optimization costs, lease buyouts, and transaction costs. Allego believes that the use of these non-IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Allego’s financial condition and results of operations. Allego’s management uses these non-IFRS measures for trend analyses, for purposes of determining management incentive compensation and for budgeting and planning purposes. Allego believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Allego’s financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. Management does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses and income that are required by IFRS to be recorded in Allego’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, management presents non-IFRS financial measures in connection with IFRS results, and reconciliations to the most directly comparable IFRS measure are provided in this press release.


LOGO

 

Interim condensed consolidated statement of profit or loss for the six months ended June 30, 2022 and 2021 (unaudited)

 

(in €‘000)

   2022     2021  

Revenue from contracts with customers

    

Charging sessions

     23,994       11,006  

Service revenue from the sale of charging equipment

     18,442       4,326  

Service revenue from installation services

     5,964       3,693  

Service revenue from operation and maintenance of charging equipment

     1,822       1,393  

Service revenue from consulting services

     470       —    

Total revenue from contracts with customers

     50,692       20,418  

Cost of sales (excluding depreciation and amortization expenses)

     (40,778     (13,705

Gross profit

     9,914       6,713  

Other income

     8,987       2,552  

Selling and distribution expenses

     (1,697     (1,142

General and administrative expenses

     (278,826     (144,021

Operating loss

     (261,622     (135,898

Finance costs

     15,173       (7,261

Loss before income tax

     (246,449     (143,159

Income tax

     (161     (597

Loss for the half-year

     (246,610     (143,756

Attributable to:

    

Equity holders of the Company

     (246,448     (143,756

Non-controlling interests

     (162     —    


LOGO

 

Interim condensed consolidated statement of financial position as at June 30, 2022 (unaudited) and December 31, 2021

 

(in €‘000)

   June 30, 2022     December 31, 20213  

Assets

    

Non-current assets

    

Property, plant and equipment

     140,268       41,544  

Intangible assets

     23,129       8,333  

Right-of-use assets

     33,955       30,353  

Deferred tax assets

     571       570  

Other financial assets

     65,131       19,582  

Total non-current assets

     263,054       100,382  

Current assets

    

Inventories

     16,515       9,231  

Prepayments and other assets

     20,703       11,432  

Trade and other receivables

     33,801       42,077  

Contract assets

     789       1,226  

Other financial assets

     —         30,400  

Cash and cash equivalents

     29,775       24,652  

Total current assets

     101,583       119,018  

Total assets

     364,637       219,400  
(in €‘000)    June 30, 2022     December 31, 20214  

Equity

    

Share capital

     32,061       1  

Share premium

     369,851       61,888  

Reserves

     4,500       4,195  

Retained earnings

     (309,536     (142,736

Equity attributable to equity holders of the Company

     96,876       (76,652

Non-controlling interests

     1,179       —    

Total equity

     98,055       (76,652

Non-current liabilities

    

Provisions and other liabilities

     1,330       133  

Borrowings

     114,556       213,128  

Lease liabilities

     30,402       26,097  

Deferred tax liabilities

     1,272       —    

Total non-current liabilities

     147,560       239,358  

Current liabilities

    

Trade and other payables

     35,695       29,333  

Contract liabilities

     6,061       21,192  

Current tax liabilities

     243       401  

Lease liabilities

     6,224       5,520  

Provisions and other liabilities

     1,226       248  

Borrowings

     23,404       —    

Warrant liabilities

     6,713       —    

Other financial liabilities

     39,456       —    

Total current liabilities

     119,022       56,694  

Total liabilities

     266,582       296,052  

Total equity and liabilities

     364,637       219,400  

 

3 

Consolidated statement of financial position as at December 31, 2021 audited.


LOGO

 

Interim condensed consolidated statement of cash flows for the six months ended June 30, 2022 and 2021 (unaudited)

 

(in €‘000)

   2022     2021  

Cash flows from operating activities

    

Cash generated from/(used in) operations

     (91,071     (13,209

Interest paid

     (3,494     (2,680

Income taxes paid

     (320     (220

Net cash flows from/(used in) operating activities

     (94,885     (16,109

Cash flows from investing activities

    

Acquisition of Mega-E, net of cash acquired

     874       —    

Acquisition of MOMA, net of cash acquired

     (28,733     —    

Purchase of property, plant and equipment

     (13,492     (10,071

Proceeds from sale of property, plant and equipment

     97       412  

Purchase of intangible assets

     (1,355     (40

Proceeds from investment grants

     234       2,275  

Payment of purchase options derivative premiums

     —         (1,500

Net cash flows from/(used in) investment activities

     (42,375     (8,924

Cash flows from financing activities

    

Proceeds from borrowings

     —         24,202  

Payment of principal portion of lease liabilities

     (2,819     (907

Payment of transaction costs

     (925     (532

Proceeds from issuing equity instruments (Spartan shareholders)

     10,079       —    

Proceeds from issuing equity instruments (PIPE financing)

     136,048       —    

Net cash flows from/(used in) financing activities

     142,383       22,763  

Net increase/(decrease) in cash and cash equivalents

     5,123       (2,270

Cash and cash equivalents at the beginning of the half-year

     24,652       8,274  

Effect of exchange rate changes on cash and cash equivalents

     —         6  

Cash and cash equivalents at the end of the half-year

     29,775       6,010  


LOGO

 

Reconciliation of Loss for the First Half of 2022 to EBITDA and Operational EBITDA (unaudited)

 

(in €mm)    1H2022      1H2021      2021      2020      2019  

Loss for the period

     -246.6        -143.8        -319.4        -43.4        -43.1  

Income tax

     0.2        0.6        0.4        -0.7        0.3  

Finance costs

     -15.1        7.3        15.4        11.3        5.9  

Amortization and impairments of intangible assets

     1.7        1.3        2.7        3.7        2.3  

Depreciation and impairments of right-of-use assets

     2.9        0.9        3.4        1.8        1.3  

Depreciation, impairments and reversal of impairments of property, plant and equipment

     5.9        3.5        5.6        4.8        4.7  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

EBITDA

     -251.0        -130.2        -292.2        -22.5        -28.6  

Fair value gains / (losses) on derivatives (purchase options)

     -3.8        -0.2        -2.9        —          —    

Share-based payment expenses

     241.3        121.9        291.8        7.1        —    

Transaction costs

     9.1        4.6        11.8        —          —    

Bonus payments to consultants

     —          —          0.6        —          —    

Lease buyouts

     —          —          —          0.1        —    

Business optimization costs

     2.9        —          —          1.8        0.8  

Reorganization and Severance

     —          —          0.1        3.8        —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operational EBITDA

     -1.5        -3.9        9.2        -9.7        -27.8  

Historical Key Metrics(1)

 

     2020     1Q21     2Q21     3Q21     4Q21     2021     1Q22     2Q22  

Average Utilization Rate

     3.5     4.1     4.6     6.3     7.0     5.5     7.5     9.0

Public Charging Ports(2)

     21,922       23,384       25,767       26,837       27,982       27,982       28,838       29,698  

# Fast & Ultra-Fast Charging Sites(2)

     710       731       748       755       831       831       872       903  

# Fast & Ultra-Fast Charging Ports(2)

     943       967       1,018       1,057       1,215       1,215       1,225       1,293  

Recurring Users %

     82.0     82.2     81     77.9     78.4     80     80.1     80

Owned Public Charging Ports(2)

     18,006       18,945       20,868       21,743       22,716       22,716       23,469       24,255  

Third-Party Public Charging Ports(2)

     3,916       4,439       4,899       5,094       5,266       5,266       5,369       5,443  

Total # Sessions (in, 000)

     3,701       1,162       1,389       1,589       1,980       6,120       2,139       2,305  

Total Energy Sold (GWh)

     48.0       16.5       18.5       21.8       30.5       87.3       34.4       37.4  

Secured Backlog (sites)(2)

     NA       NA       500       500       800       800       800       1,100  

 

(1)

Includes Mega-E for all periods.

(2)

As of the end of the period presented.

Contact:

Investors

Manish A. Somaiya

investors@allego.eu

Media

allegoPR@icrinc.com