27 million euro loss for charging station maker Alfen

Charging station manufacturer Alfen failed to follow up on its €30 million profit in 2023. In 2024, the company made a loss of 27 million euros. The weaker electric car market and congestion on the power grid were the main causes.

Overall, sales declined 3.3 per cent to 488 million euros. The biggest pain was not in the company’s charging palm division, which also makes systems for the power grid. The drop in revenue occurred mainly in the Energy Storage Systems division; the charging station division achieved more or less the same result as in 2023 at around 153. Revenues from the Smart Grid Solutions (SGS) branch rose by almost 12 per cent to almost 211 million euros. Last October, Alfen already cut some 15 per cent of jobs in the company to cut costs.

Outlook

Alfen reckons that sales could fall further this year. The company expects only sales from its SGS division to increase. For the years after 2025, the company expects revenues to increase by 5 to 10 per cent. The reorganisation already mentioned should start contributing to cost savings of some €13 million.

“Despite the headwinds, we achieved a lot together, which prepares us for better performance in 2025,” said top executive Marco Roeleveld in a comment on the results. “Our teams showed incredible resilience and unwavering commitment during the year to deliver value for our customers, despite the challenges we faced.”