Allego announces results for the first half of 2022.
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Allego announces results for the first half of 2022.

The results show that Allego reported 4.4 million charging sessions and generated a revenue of €50.7 million in the first six months of 2022.

Allego, a leading pan-European public electric vehicle fast-charging network, announced results for the first half of 2022. In the first six months, the revenue of the company increased by 148.3% to €50.7 million, compared to €20.4 million in the first half of 2021.

Charging revenues of Allego 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.

The company sold 71.8 gigawatt-hour (GWh) of 100% green energy in the first six months of 2022, compared to 35.0 GWh in the first half of 2021.

Allego reported 4.4 million charging sessions from more than 34,000 public and non-public charging ports in the first half of 2022.

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 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.”

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