| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
- |
| Employees |
276 |
| Revenues (TTM) (Millions $) |
213 |
| Net Income (TTM) (Millions $) |
-50 |
| Cash Flow (TTM) (Millions $) |
0 |
| Capital Exp. (TTM) (Millions $) |
63 |
Business Description
Allego is a leading EV charging company in Europe, with a large, vehicle-agnostic public network that offers easy access for all EV car, truck, and bus drivers. The company owns or operates over 31,000 public charging ports and 16,000 public and private sites across 14 countries, with more than 672,000 unique network users, 80% of which are recurring users as of December 31, 2021. Allego provides EV-related services such as site design, technical layout, authorization and billing, and operations and maintenance to more than 400 customers, including fleets, corporations, charging hosts, OEMs, and municipalities.
Founded in 2013, Allego's first fast charger became operational soon after its founding, and the company deployed Europe's first ultra-fast charging station in 2017. Allego focuses on EV charging solutions that can be accessed by the highest number of vehicles, regardless of vehicle type or OEM, allowing it to grow in a vehicle-agnostic manner.
According to Allego, the European EV market is larger and growing faster than the U.S. market due to attributes that generally favor fast charging, such as more stringent regulatory regimes, high urbanization rates, a scarcity of in-home parking in dense cities, and significant interurban traffic. Between 2020 and 2030, fast public charging is expected to increase its share from 24% to 37% of public charging in Europe, according to Allego estimates.
Allego's business model is based on providing easily accessible, highly reliable, hassle-free charging points to all types of EV users. Allego developed a unique, proprietary software platform that can manage any hardware chargers and charging sessions while enabling any MSP to use Allego's network. The company has two complementary business segments: its owned fast charging network and high value-add third-party services.
Allego's primary business focus is on building, owning, and operating ultra-fast and fast EV charging sites. It uses its proprietary AllamoTM software to identify premium charging sites and forecast demand using external traffic statistics. Allego's charging sites are vehicle-agnostic and therefore can charge vehicles without limitations on OEM or user groups. The company is a leader in ultra-fast charging networks in Europe, with 733 fast and 54 ultra-fast charging ports as of December 31, 2021, and intends to accelerate its growth in this business segment.
Allego also offers high value-add third-party services to customers, such as municipalities and corporations, as a strategic focus for non-core technologies. This business segment is driven by attractive, high margin third-party service contracts for a variety of services, including site design and technical layout, authorization and billing, and operations and maintenance. These offerings allow Allego to manage large and complex solutions and serve as a one-stop shop with its white label software suite. Both business segments also allow Allego to focus on long-term and recurring revenue ranging from 5 years on average for its service.
Company Address: Westervoortsedijk 73 KB Arnhem 6827
Company Phone Number: 88 033 3033 Stock Exchange / Ticker: ALLG
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