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NHOA (NHOA) investor relations material

NHOA has been acquired

NHOA Q3 2024 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 TU earnings summary24 Oct, 2024

Executive summary

  • Q3 2024 sales reached €124.3m, down 23% year-over-year, reflecting lower unit system costs and delayed equipment deliveries, with revenue accrual expected to shift to Q4 2024.

  • Group cash and deposits stood at €149.6m as of September 30, 2024, with net cash at €44.7m and available cash and credit lines at €134.0m.

  • NHOA Energy's backlog was €130m, slightly down from Q2, but the project pipeline doubled year-over-year, with eight projects shortlisted.

  • Atlante surpassed 2,500 points of charge online, with Italy and Portugal leading, and achieved a 102% year-over-year sales increase.

  • Free2move eSolutions posted €43.3m in YTD Q3 2024 revenues, up 6% year-over-year, driven by strong growth in EV charger sales in Europe and North America.

Financial highlights

  • Group sales for Q3 2024 were €124.3m, a 23% decrease compared to Q3 2023.

  • NHOA Energy sales dropped 33% year-over-year to €101.2m, mainly due to battery price reductions passed to clients.

  • Atlante sales rose 102% year-over-year to €5.0m, with improved utilization and occupancy rates.

  • Free2move eSolutions sales increased 6% year-over-year to €43.3m, with over 42,000 EV charging devices sold YTD.

  • Group net cash position was €44.7m, and cash and credit lines available totaled €134.0m as of September 30, 2024.

Outlook and guidance

  • Revenue recognition is expected to be significantly higher in Q4 2024 due to timing of equipment deliveries.

  • Atlante revised its 2025 targets downward in response to slower EV sales in Europe, focusing on strategic sites.

  • Guidance for 3,000 charging points online by 2025 remains, but some secured projects may be put on hold.

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Frequently asked questions

NHOA S.A. (formerly Engie EPS) is a technology-driven company supplying solutions for energy storage and e-mobility. The company develops and provides technologies enabling the transition towards clean energy and sustainable mobility. NHOA S.A. was founded in 2013, and has offices in France, the United States and Australia, but maintains entirely in Italy research, development and production of its technologies.