| Summary Of Nature And Extent Of Risks Arising From Financial Instruments |
This note explains the Group’s exposure to financial risks and how these risks could affect the Group’s future financial performance.
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| Risk |
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Exposure arising from |
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Measurement |
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Management |
| Market risk – interest rate risk |
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Long-term borrowings at variable rates |
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Sensitivity analysis |
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Economic hedge with an interest rate cap |
| Market risk – investments price risk |
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Investments in equity securities |
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Sensitivity analysis |
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Monitoring valuation updates |
| Market risk – commodities price risk |
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Electricity Procurement |
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Maturity profile and coverage |
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Increase supply of renewable electricity via fixed price PPAs |
| Credit risk |
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Cash and cash equivalents, trade receivables, derivative financial instruments and contract assets |
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Aging analysis |
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Doing business with creditworthy companies and a strict policy of cash collection. |
| Liquidity risk |
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Borrowings and other liabilities |
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Cash flow forecasts |
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Availability of borrowing facilities. |
The table below summarizes the contractual electricity supply profile (P50) from all PPAs at Allego as at December 31, 2024, resulting in an average expected annual coverage of 78% (December 31, 2023: 25%) of the total Group electricity supply till the end of 2035:
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Contractual electricity production |
| (in GWh) |
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Total |
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Less
than 12
months |
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1–5
years |
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More
than 5
years |
| The Netherlands |
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2,499 |
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282 |
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1,068 |
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1,149 |
| Germany |
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1,022 |
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107 |
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427 |
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488 |
Average expected coverage |
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78% |
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207% |
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104% |
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57% |
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| Summary Of Provision Matrix |
On that basis, the loss allowance as at December 31, 2024 and December 31, 2023 was determined as follows for trade receivables and contract assets:
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| (in €‘000) |
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Current |
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1 – 30
days past
due |
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31 –60
days past
due |
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61 –90
days past
due |
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91+ days
past due |
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Total |
| As at December 31, 2023 |
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| Expected loss rate (in %) |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
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| Gross carrying amount – trade receivables |
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32,931 |
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7,459 |
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897 |
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(5,280) |
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11,221 |
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47,228 |
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| Gross carrying amount – contract assets |
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— |
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— |
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— |
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— |
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— |
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— |
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| Loss allowance |
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— |
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— |
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— |
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— |
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— |
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— |
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| As at December 31, 2024 |
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| Expected loss rate (in %) |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
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4.47 |
% |
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| Gross carrying amount – trade receivables |
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25,625 |
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4,791 |
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983 |
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326 |
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5,692 |
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37,417 |
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| Gross carrying amount – contract assets |
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— |
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— |
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— |
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— |
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— |
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— |
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| Loss allowance |
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— |
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— |
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— |
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— |
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1,121 |
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1,121 |
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| Summary Of Maturity Analysis For Non-derivative Financial Liabilities |
The amounts disclosed in the table are the contractual undiscounted cash flows (including interest payments). Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.
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Contractual cash flows |
| (in €‘000) |
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Carrying
amount of
liabilities |
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Total |
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Less
than 6
months |
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6–12
months |
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1–2
years |
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2–5 years |
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More
than 5
years |
| As at December 31, 2023 |
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| Borrowings |
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350,722 |
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479,082 |
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27,198 |
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13,039 |
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22,529 |
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416,316 |
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— |
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| Lease liabilities |
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83,490 |
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127,101 |
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6,121 |
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6,458 |
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12,841 |
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26,234 |
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75,447 |
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| Trade and other payables |
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74,213 |
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74,213 |
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74,213 |
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— |
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— |
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— |
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— |
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| Derivative liabilities |
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7,442 |
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100,214 |
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1,378 |
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1,410 |
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9,949 |
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28,904 |
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58,573 |
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| Total |
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515,867
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780,610
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108,910
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20,907
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45,319
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471,454
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134,020
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| As at December 31, 2024 |
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| Borrowings |
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512,014 |
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846,229 |
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12,297 |
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11,428 |
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23,354 |
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400,296 |
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398,854 |
* |
| Lease liabilities |
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116,415 |
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165,548 |
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9,617 |
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8,185 |
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15,096 |
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34,403 |
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98,247 |
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| Trade and other payables |
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71,375 |
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71,375 |
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71,375 |
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— |
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— |
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— |
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— |
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| Derivative liabilities |
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20,132 |
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192,436 |
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9,271 |
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9,775 |
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20,677 |
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59,808 |
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92,905 |
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| Total |
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719,936
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1,275,588
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102,560
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29,388
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59,127
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494,507
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590,006
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*The amount of €398,854 thousand refers to the repayment of the convertible debt. If not redeemed early or converted into ordinary shares with their terms, the bonds, together with accrued interest, are convertible into ordinary shares of Allego N.V., at the discretion of Allego N.V., on the date that is seven years after the issuance date, on December 27, 2031.
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