Allego N.V. operates as an electric vehicle (EV) charging company. The company offers charging solutions for electric cars, motors, buses, and trucks. It has a charging network with renewable energy and charging solutions for business-to-business customers, including leading retail and auto brands. The company has approximately 28,000 charging ports in Europe. It also provides Allego EV Cloud, a customer payment tool that offers essential services to owned and third-party customers comprising authorization and billing, smart charging and load balancing, analysis, and customer support. The company was founded in 2013 and is based in Arnhem, the Netherlands.
IPO Year: 2022
Exchange: NYSE
Website: https://www.allego.eu
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/8/2022 | $10.00 | Buy | Citigroup |
| 4/11/2022 | $19.00 | Outperform | Cowen |
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Citigroup initiated coverage of Allego Holding B.V. with a rating of Buy and set a new price target of $10.00
Cowen initiated coverage of Allego Holding B.V. with a rating of Outperform and set a new price target of $19.00
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Allego (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced that it has completed the voluntary delisting of its ordinary shares (the "Shares") from the New York Stock Exchange ("NYSE") following the conclusion of the previously announced tender offer by Madeleine Charging B.V., Allego's majority shareholder. Allego filed Form 25 with the U.S. Securities and Exchange Commission ("SEC") on August 12, 2024, relating to the delisting of the Shares in accordance with Rule 12d2-2 declared under the Securities Exchange Act of 1934, as amended. Today, August 22, 2024, is the last trading day of the Shares on the NYSE. As Allego trans
Allego (NYSE:ALLG), a leading pan-European electric vehicle network, announces the grant of a €20 million loan from the European Bank for Reconstruction and Development (EBRD) as part of the CROSS-E project co-funded by the European Union. This financial support will support Allego's strong development of EV-charging infrastructure inside Poland as part of the company's ongoing Eastern European expansion project. Electric vehicle adoption in Poland, which ranks among the lowest in Europe in terms of EV charging penetration, can only be fostered through a robust and fully functional EV charging infrastructure. This initiative promotes the broad availability of efficient and dependable elec
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading provider of electric vehicle charging solutions, today announced that it has commenced the process to voluntarily delist its ordinary shares (the "Shares") from the New York Stock Exchange ("NYSE") following the completion of the previously announced tender offer by Madeleine Charging B.V., Allego's majority shareholder. The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission ("SEC") on August 12, 2024, relating to the delisting of the Shares, in accordance with Rule 12d2-2 promulgated under the Securities Exchange Act of 1934, as amended, which delisting is expected to take effect ten days there
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading provider of electric vehicle charging solutions, and Madeleine Charging B.V., Allego's majority shareholder ("Meridiam"), jointly announced today the expiration and final results of Meridiam's previously announced cash tender offer for all the issued and outstanding ordinary shares of Allego (the "Shares") not owned by Meridiam or its affiliates (the "Offer"). The Offer expired one minute after 11:59 p.m., New York City time, on July 31, 2024 and was not extended. A total of 38,718,988 Shares were properly tendered and not withdrawn, and Meridiam has accepted for purchase all such Shares. As a result of completion of the Offer
Allego and Meridiam have entered into a definitive agreement pursuant to which Meridiam will launch a tender offer for all issued and outstanding ordinary shares of Allego not owned by Meridiam or its affiliates, followed by Allego's voluntarily delisting of its ordinary shares from the New York Stock Exchange after completion of the offer The tender offer price of USD 1.70 per ordinary share in cash, without interest represents a premium of 131% to Allego's closing price of USD 0.74 on 14 June 2024 Shareholders that do not elect to tender their ordinary shares will remain investors in the delisted Company Neither the tender offer nor the completion of the other parts of the trans
Electric Vehicle Caravan to Disprove Skeptics Who Doubt Long-Distance Journey with EVs The trip from Sjællandsringen, Denmark, to Le Mans, France, is 3200 km, back and forth. The trip includes 50 electric vehicles, including an electric truck, with approximately 120 participants from six countries. The trip crosses four countries and is expected to save 17 tons of CO2. Allego (NYSE:ALLG) proudly announces its sponsorship of the iconic Le Mans 2024 Road Trip. This pioneering expedition will see 50 electric cars and an electric truck embark on a historic 1600 km journey from FDM Sjællandsringen, Denmark, to the well-known 24-hour race in Le Mans, France, on June 12, 2024. This pr
Seasoned financial executive to bring decades of experience in the industrial sectors to a leading provider of electric vehicle charging solutions Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading provider of electric vehicle charging solutions, is pleased to announce the appointment of Steven Salo as the Company's new Chief Financial Officer (CFO), effective July 1st, 2024. Steven brings extensive experience in financial leadership, strategic planning, and corporate development to Allego. Born in the UK, Steven went on to study in Australia, graduating from Deakin University, Melbourne, with a Bachelor of Commerce and from Finsia with a Masters of Applied Finance and Inves
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG) announces that on May 16, 2024, it filed with the Securities and Exchange Commission its Annual Report on Form 20-F that included audited financial statements for the year ended December 31, 2023. The Company's Annual Report on Form 20-F is available online at the Company's website at www.allego.eu and also online at www.sec.gov. Shareholders have the ability to receive a hard copy of the Company's complete audited financial statements, free of charge, through an email request sent to [email protected]. About Allego Allego is a leading electric vehicle charging solutions provider dedicated to accelerating the transition to electric
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced that it has received written notice dated March 14, 2024 from the New York Stock Exchange ("NYSE") indicating that the Company is not in compliance with Section 802.01C of the NYSE's continued listing standards because the average closing price of Allego's ordinary shares was less than US$1.00 over a consecutive 30 trading-day period. Under the NYSE's rules, the Company has six months following receipt of the notice to regain compliance with the minimum share price requirement. The Company can regain compliance at any time during the cur
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced it will postpone its fourth quarter and full year 2023 financial results conference call and confirms that it will provide that information in connection with the filing of its Form 20-F on or prior to the April 30, 2024 deadline. Allego had previously announced it would report its financial results before the market opens on April 2, 2024, with a conference call taking place at 8:30 a.m. Eastern Time. About Allego Allego is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electri
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Seasoned financial executive to bring decades of experience in the industrial sectors to a leading provider of electric vehicle charging solutions Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading provider of electric vehicle charging solutions, is pleased to announce the appointment of Steven Salo as the Company's new Chief Financial Officer (CFO), effective July 1st, 2024. Steven brings extensive experience in financial leadership, strategic planning, and corporate development to Allego. Born in the UK, Steven went on to study in Australia, graduating from Deakin University, Melbourne, with a Bachelor of Commerce and from Finsia with a Masters of Applied Finance and Inves
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Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced it will postpone its fourth quarter and full year 2023 financial results conference call and confirms that it will provide that information in connection with the filing of its Form 20-F on or prior to the April 30, 2024 deadline. Allego had previously announced it would report its financial results before the market opens on April 2, 2024, with a conference call taking place at 8:30 a.m. Eastern Time. About Allego Allego is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electri
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced it will release the Company's fourth quarter and full year 2023 results on Tuesday, April 2, 2024, followed by a conference call at 8:30 AM ET. 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 conclusion of the call and until Tuesday, April 16, 2024. Participants may access the replay at 1-844-5
Third quarter 2023 revenue increased 28.2% to €28.6 million, compared to €22.3 million in the prior year period. Third quarter 2023 charging revenue increased 53.0% to €22.0 million, compared to €14.4 million for the three months ended September 30, 2022. Gross profit increased to €5.4 million compared to €(4.6) million in the prior-year-period; gross margin during the quarter was 18.9%. Third quarter 2023 net loss was €(43.1) million, compared to €(22.1) million in the prior-year period; Operational EBITDA was €2.6 million reflecting higher charging revenue and improved charging gross margin compared to the prior-year period loss of €(3.1) million. Allego recently signed two p
Allego N.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced it will release the Company's third quarter 2023 results on Tuesday, November 14, 2023, followed by a conference call at 8:00 AM ET. Participants may access the call at 1-844-826-3033 , international callers may use 1-412-317-5185 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 conclusion of the call and until Tuesday, November 28, 2023. Participants may access the replay 1-844-512-2921, i
First half 2023 revenue increased 34.6% to €68.2 million, compared to €50.7 million in the prior year period. First half 2023 charging revenue was up by €27.1 million, or 113.1%, to €51.1 million compared to €24.0 million for the six months ended June 30, 2022. First half 2023 net loss was €(38.9) million, compared to €(247.1) million in the prior-year period. Operational EBITDA was €11.7 million increasing steadily compared to the prior-year period loss of €(1.5) million. Allego entered into a long-term agreement with Esso Deutschland through 2028 to sell compliance credits for a potential total value of up to €185 million. In a first-of-its-kind collaboration, Allego is pa
Allego Holding B.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European electric vehicle public charging network, today announced it will release the Company's first half and second quarter 2023 results on Tuesday, August 15, 2023, followed by a conference call at 8:30 AM ET. 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 conclusion of the call and until Tuesday, August 29, 2023. Participants may access the replay 1-844-512-2921, in
First quarter 2023 revenue increased 27.4% to €38.8 million, compared to the prior year period of €30.5 million. Charging revenue was up 166.7% to €27.8 million compared to €10.4 million for the three months ended March 31, 2022. First quarter 2023 net loss was €(13.2) million compared to €(351.0) million during the first quarter of 2022. Robust operating momentum drove operational EBITDA of €8.9 million in Q1 2023 versus €1.5 million in the prior year period. First quarter 2023 total energy sold was 49.4 gigawatt-hour (GWh), an increase of 53.8% over the prior-year period. This energy translates in 247 million km driven and 39,000 tons of CO2 saved. Strong roll-out momentum
Allego Holding B.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European electric vehicle public charging network, today announced it will release the Company's first quarter 2023 results on Monday, June 5, 2023, followed by a conference call at 8:30 AM ET. 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 conclusion of the call and until Monday, June 19, 2023. Participants may access the replay 1-844-512-2921, international callers may
Fourth quarter 2022 revenue increased 10.7% over the prior year period to €60.9 million. Fourth quarter 2022 net loss was €(40.0) million compared to €(95.9) million during the fourth quarter of 2021. Operational EBITDA1 in Q4 2022 reached €7.8 million versus €14.8 million in the year ago period. Fourth quarter 2022 average utilization rate2 increased to 6.7 sessions per day per ultrafast charger (13.4%) from 3.7 sessions (7.4%) in the prior-year period. Full-year 2022 total energy sold was 154.6 gigawatt-hour (GWh), an increase of 86.8% over the prior-year period. Full-year 2022 total number of charging sessions was 7.4 million for Allego's own network, 70.6% higher than th
Allego Holding B.V. ("Allego" or the "Company") (NYSE:ALLG), a leading pan-European electric vehicle public charging network, today announced it will release the Company's fourth quarter and full year 2022 results after market closes on Tuesday, May 16, 2023, followed by a conference call at 4:30 PM ET. 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 conclusion of the call and until Tuesday, May 30, 2023. Participants may access the replay 1-844