Energy storage and e-mobility company Nhoa is making strategic moves to bolster its fast-charging network, Atlante, for electric vehicles (EVs) in southern Europe. On Wednesday, the Milan-based group revealed plans to collaborate with a partner in the development of Atlante, which was initially launched in 2021. The ambitious expansion aims to build upon the existing 1,200 charging points and install approximately 2,000 new stations across key countries in the region, namely Italy, France, Portugal, and Spain.
The incorporation of a strategic partner is a crucial step in Nhoa’s vision to elevate its charging infrastructure to greater heights. During the group’s capital market day presentation, the company unveiled its objective to expand the network to an impressive 20,000 charging points by 2030. Such a strategic alliance would provide Nhoa with the necessary resources and expertise to achieve this ambitious goal.
The company’s recent financial performance was also disclosed during the presentation. As of the first half of 2023, Nhoa reported a core profit loss of 16.8 million euros, a significant difference from the 5.8-million-euro loss recorded during the same period the previous year. This shift in profits can be attributed to the heavy investments made in Nhoa’s capital-intensive EV charging unit.
Despite the current loss, Nhoa’s CEO, Carlalberto Guglielminotti, reassured investors of the company’s path to financial stability. He projected that Nhoa would break even by 2025, signaling a positive outlook for the company’s future profitability.
In light of its optimistic prospects and strong financial performance in the first half of 2023, Nhoa has improved its full-year sales outlook for 2023. The company now anticipates sales figures to range between 250 and 280 million euros, a positive revision from its earlier target of 220-280 million euros. The adjustment is driven by a remarkable 48% increase in revenue during the six months leading up to June.
