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Alfen (ALFEN) investor relations material
Alfen H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 reached €261.5 million, up 24% year-over-year, driven by strong Energy Storage Systems and Smart Grid Solutions, while EV Charging declined.
Adjusted EBITDA rose to €16.4 million (6.3% margin), up from €13 million (6.1%) in H1 2025.
Adjusted net profit was €3.6 million, compared to €1.3 million in H1 2025.
Net loss improved to €0.5 million, reflecting transformation and restructuring costs.
Leadership changes included new business unit directors, HR director, and CFO succession.
Financial highlights
Adjusted gross margin was €68.3 million (26.1% of revenue), down from 29.1% due to business mix shift.
Adjusted personnel expenses increased to €43.6 million, including €3.5 million in restructuring costs.
Adjusted other operating expenses decreased by 4.3% to €11.5 million.
Net cash position improved to €6.2 million from net debt of €20.7 million at year-end 2025.
Operating cash flow was €36.5 million, up from €10.8 million in H1 2025, driven by a €23.1 million working capital reduction.
Outlook and guidance
Full-year 2026 revenue guidance reiterated at €435–475 million, with adjusted EBITDA margin of 4–7% and CapEx below 4% of revenue.
H2 2026 expected to be softer than H1, with lower top line and adjusted EBITDA.
Revenue is front-loaded in H1 2026 due to project timing; 2027 expected to see renewed growth and margin improvement as transformation completes.
- Q1 2026 revenue up 25%, adjusted EBITDA up 50%, led by storage and grid growth.ALFEN
Q1 2026 TU - Revenue fell 10.7% to €435.6m, with transformation and margin focus for 2026.ALFEN
H2 2025 - Q3 2025 revenue fell 2% year-over-year, with cost controls offsetting margin pressure.ALFEN
Q3 2025 TU - Revenue declined, margins improved, and 2026 outlook was moderated amid market headwinds.ALFEN
H1 2025 - Q3 revenue dropped 22% year-over-year, with restructuring and cost-saving actions underway.ALFEN
Q3 2024 TU - Revenue up 10% to €245.7m, but margins and profit pressured by one-off costs and higher expenses.ALFEN
H1 2024 - 2024 revenue outlook cut to €485–520m amid ESS delays, higher costs, and covenant breach talks.ALFEN
Trading Update - Revenue and margins declined in Q1 2025, prompting lower guidance and new cost-saving measures.ALFEN
Q1 2025 TU - 2024 saw revenue at EUR 487.6m, margin compression, and cost cuts to support a 2025 rebound.ALFEN
H2 2024
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