Alfen

Alfen reported revenue growth of 23.6% to EUR 261.5m in the first half of 2026 and an adjusted EBITDA of EUR 16.4m; the net cash position rose to EUR 6.2m. Strong growth came from Energy Storage Systems (+88%), while the EV-charging business shrank by 17% due to portfolio renewal. Management confirmed the full-year forecast (revenue EUR 435–475m, adjusted EBITDA margin 4–7%) but expects a weaker second half and higher personnel costs. After the results the share price fell sharply as investors weighed the continued weakness in EV charging and the muted outlook. » Mere på de.investing.com

Alfen's share dropped about 5.2% after interim CFO Onno Krap announced his departure. The company stresses the change is not related to its financial position and plans to name a new interim CFO later this week. Analysts warn the leadership change could cause short-term uncertainty, while Alfen continues to suffer from competitive pressure and project volatility in its core markets such as charging infrastructure and energy storage. » Mere på de.investing.com

Jefferies upgraded Alfen and expects the company to benefit from an accelerated energy transition and measures to address grid bottlenecks. Smart Grids Solutions accounts for 43% of forecasted 2025 revenues and should benefit from accelerated permitting processes and annual increases in substation installations. The energy storage solutions segment recorded revenue growth of 145% and order intake rose by almost 60%, while EV Charging is focusing on portfolio simplification and geographic expansion. Alfen expects 2026 to be a year of transformation, forecasts net debt of €24.9m (1.0x EBITDA), and Jefferies has substantially raised its 2026–2028 EBITDA estimates with a prospect of nearly doubled EBITDA margins by 2030. » Mere på de.investing.com

Alfen reports 2025 EBITDA of €25.5m (-11%), slightly below the consensus of €26.5m. Revenue fell 11% to €435.6m, driven by a 21% decline in e‑charging solutions and a 10% drop in smart grids; energy storage rose by 2%. Cost reductions (personnel costs -15%, operating expenses -21%) kept the EBITDA margin stable at 5.8%. For 2026 Alfen expects revenue of €435–475m and narrows the target range for the EBITDA margin to 4–7% (implied EBITDA around €25.0m, well below consensus). Under CEO Michael Colijn, Alfen is launching a transformation focused on closer customer relationships, product quality, digitalization and targeted geographic expansion. » Mere på de.investing.com

Deutsche Bank has raised its rating for Alfen from "sell" to "hold" and increased the price target from €8 to €10. The reason is Q3 figures that missed revenue expectations but beat profit forecasts, as well as Alfen's aggressive pricing strategy for new charging models, which protects operating leverage. Alfen confirmed guidance for 2025 and 2026 but expects 2025 revenue at the lower end of the range due to weaker smart‑grid demand and competitive pressure in the charging segment. Deutsche Bank expects seasonally driven, sequential cost increases in Q4; approval delays and a shortage of skilled workers continue to dampen demand from grid operators. » Mere på de.investing.com