ALMERE, THE NETHERLANDS – Alfen N.V. (AEX: ALFEN), a specialist in energy solutions for the future, today updates its revenue guidance for 2023.

Based upon recent updates to our latest estimates, Alfen changes its revenue guidance for 2023 from €540-600m to €490-520m.

With EV charging we see destocking challenges in the sales channels in combination with challenging market conditions leading to lower foreseen revenues in 2023. The updated guidance includes this impact.

In our other two business lines we see continued success in energy storage and stronger growth in smart grid solutions compared to growth in previous quarters.

Furthermore, Alfen maintains significant head room in its bank overdraft facility: Cash (including bank overdraft) amounts to € 35.2m (credit) at 30 June 2023. Given the current account overdraft facility of €101.5m, Alfen’s total cash availability amounts to €66.3m.

At the same time, Alfen reconfirms its mid-term financial objectives as set during the Capital Markets Day on May 10, 2023. The long-term growth rate remains significant in each of its markets and Alfen's positioning in these markets remains strong.

Alfen will release its HY 2023 trading update on August 23, where we will provide further details on each of our business lines.
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About Alfen
Netherlands-based Alfen is operating internationally in the heart of the energy transition, as a specialist in energy solutions for the future. With 85+ years history, Alfen has a unique combination of activities. Alfen designs, develops and produces smart grids, energy storage systems, and electric vehicle charging equipment and combines these in integrated solutions to address the electricity challenges of its clients. Alfen has a market leading position in the Netherlands and experiences fast international growth benefitting from its first mover advantage. For further information see Alfen’s website at: www.alfen.com.