Alfen : Profitability outlook improved but revenue outlook disappoints
>2020 top-line below expectations, but beat on EBITDA - Alfen reported 4Q20 revenues below expectations, caused by a miss in Smart Grids, though EV charging beat expectations again. Despite lower-than-expected revenues, Alfen reported better-than-expected EBITDA. Alfen managed to increase its gross profit margin again, taking it to 38% in 4Q20. 2021 guidance not well-received, but profitability outlook improved - Although we expected Alfen to announce...Alfen NV (Alfen) is a company based in the Netherlands, engaged in the design, development and production of electric grid equipment. The Company is active in three business lines: Smart Grids, which supplies standardized electricity grid connection systems, secondary transformer substations, local power grids, devices for grid automation, as well as software and back-end systems for remote management and grid control; Energy Storage, responsible for development and installation of modular energy storage systems under the brand TheBattery, which are used by utilities, grid operators, energy traders and industrial companies, among others, and Electric Vehicle (EV) Charging, which supplies EV charge points in a variety of capacities and functionalities for use at home, work and in public areas. In addition, Alfen offers service, management and maintenance activities, including remote support and monitoring, as well as an in-house technological know-how center.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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