SEC Comment Letter 0000000000-23-000962 to Allego N.V. (ALLG, ALLGF) (CIK 0001874474)
Allego N.V. (ALLG, ALLGF) (CIK 0001874474)
Date: Jan. 30, 2023 · CIK: 0001874474 · Accession: 0000000000-23-000962
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-41329
Letter
United States securities and exchange commission logo January 30, 2023 Mathieu Bonnet Chief Executive Officer Allego N.V. Westervoortsedijk 73 KB 6827 AV Arnhem The Netherlands Re:Allego N.V. Form 20-F for the Fiscal Year Ended December 31, 2021 Filed May 13, 2022 File No. 001-41329 Dear Mathieu Bonnet: We have reviewed your December 15, 2022 response to our comment letter and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our December 1, 2022 letter. Form 20-F for the Fiscal Year Ended December 31, 2021 Notes to Consolidated Financial Statements Note 4. Segmentation, page F-41 1.Refer to your response to comment 5. You disclose in the note (i) the group has one operating segment which is also its only reporting segment, (ii) "As the group only has one reporting segment, all relevant financial information is disclosed in the consolidated financial statements," and "... financial information, including Adjusted EBITDA ... are only provided on a consolidated basis." You confirm in the response you only have one operating and reportable segment and Adjusted EBITDA is presented for the company as a whole. IFRS 8 defines operating segment as a "component" (emphasis added) of an entity. It appears clear from the basis for conclusions for IFRS 8 and predecessor
FirstName LastNameMathieu Bonnet Comapany NameAllego N.V. January 30, 2023 Page 2 FirstName LastName Mathieu Bonnet Allego N.V. January 30, 2023 Page 2 guidance the core principle of segment information was regarded as a disaggregation of an entity's information. Additionally, entity-wide disclosures required by IFRS 8 for entities that have a single reportable segment do not call for an entity-wide or consolidated measure of profit or loss used to assess performance and allocate resources. Accordingly, it appears your presentation of Adjusted EBITDA in the notes to the financial statements is not consistent with the core principle of IFRS 8 and thereby not permitted to be disclosed in the notes to the financial statements. Please revise your disclosure accordingly. You may contact Robert Shapiro at 202-551-3273 or Doug Jones at 202-551-3309 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
January 30, 2023
Mathieu Bonnet
Chief Executive Officer
Allego N.V.
Westervoortsedijk 73 KB
6827 AV Arnhem
The Netherlands
Re:Allego N.V.
Form 20-F for the Fiscal Year Ended December 31, 2021
Filed May 13, 2022
File No. 001-41329
Dear Mathieu Bonnet:
We have reviewed your December 15, 2022 response to our comment letter and have the
following comment. In our comment, we may ask you to provide us with information so we may
better understand your disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional
comments. Unless we note otherwise, our references to prior comments are to comments in our
December 1, 2022 letter.
Form 20-F for the Fiscal Year Ended December 31, 2021
Notes to Consolidated Financial Statements
Note 4. Segmentation, page F-41
1.Refer to your response to comment 5. You disclose in the note (i) the group has one
operating segment which is also its only reporting segment, (ii) "As the group only has
one reporting segment, all relevant financial information is disclosed in the consolidated
financial statements," and "... financial information, including Adjusted EBITDA ... are
only provided on a consolidated basis." You confirm in the response you only have one
operating and reportable segment and Adjusted EBITDA is presented for the company as
a whole. IFRS 8 defines operating segment as a "component" (emphasis added) of an
entity. It appears clear from the basis for conclusions for IFRS 8 and predecessor
FirstName LastNameMathieu Bonnet
Comapany NameAllego N.V.
January 30, 2023 Page 2
FirstName LastName
Mathieu Bonnet
Allego N.V.
January 30, 2023
Page 2
guidance the core principle of segment information was regarded as a disaggregation of
an entity's information. Additionally, entity-wide disclosures required by IFRS 8 for
entities that have a single reportable segment do not call for an entity-wide or consolidated
measure of profit or loss used to assess performance and allocate resources. Accordingly,
it appears your presentation of Adjusted EBITDA in the notes to the financial statements
is not consistent with the core principle of IFRS 8 and thereby not permitted to be
disclosed in the notes to the financial statements. Please revise your disclosure
accordingly.
You may contact Robert Shapiro at 202-551-3273 or Doug Jones at 202-551-3309 if you
have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Trade & Services