Paris, 1 December 2022 – NHOA (NHOA.PA, formerly Engie EPS), provides an ad hoc trading update as a result of recent developments in all its Business Lines.
Revenues at Group level in 2022 are now expected to be slightly above €160 million (previously €140-160 million).
At Business Line level the November 2022 trading, and the underlying full year 2022 guidance update, is summarized as follows.
Execution of the over 700MWh under construction in Latin America, Europe and Asia-Pacific is well on track, with seven projects in commissioning or pre-commissioning phase. EBITDA 2022 expected to range between €2 and €3 million (previously breakeven).
NHOA Energy is currently preferred bidder in Asia and USA for around 150MWh of contracts, expected to be converted into backlog in December. In this scenario, the order backlog at year-end should be within the range of full year 2022 revenues, setting therefore strong fundamentals towards 2023 growth.
In order to drive the EV market evolution and potential, Free2move eSolutions, is reshaping its operations to focus its portfolio on the short term on sales through different channels of eProWallbox, which will fulfill Stellantis’ customer needs.
This new direction will lead to a limited slowdown of the revenue growth in this transition phase until Q1 2023, before setting a new impetus and acceleration of growth and profitability from Q2 2023 onwards.
EBITDA will therefore not reach breakeven in 2022, contrary to the initial forecast.
The streamlining and refocusing effort is fully supported by NHOA and Stellantis to pave the way for a sustainable future for Free2move eSolutions’ growth, starting from Q2 2023 on its core markets, which are Europe and USA.
Points of charge online and under construction by year-end are expected to range between 1,400 and 1,600 with a pipeline of over 2,000 new sites under assessment.
As a result, Atlante continues its network roll-out ahead of Masterplan10x expectations, with an enhanced pipeline to underpin the ambition to develop Southern Europe’s largest fast and ultra-fast EV charging network.