Fastned Reports 2018 H1 Results – Delivered Over 1 GWh Of Electricity

AUG 27 2018 BY MARK KANE 8

Fastned, the Dutch fast charging network, more than doubled its business over the first six months of this year.

Total amount of dispensed electricity during the first half of 2018 stands at 1.05 million kWh (or 1.05 GWh), which is about the same as in all of 2017 and 164% more year-over-year.  The revenue from the fast charging service was €467,770 (+150%). The third big number is the number of active customers: 9,533 (+140%). Number of BEVs increased in the Netherlands in the period by 79% to 29,210.

Fastned is currently a major fast-charging network in the Netherlands, with the first station installed in Germany and many more scheduled in several other countries. As of the end of the quarter 76 stations (+11) were available (including 13 ultra-fast charging with 175 kW of power and ready for 350 kW in the future).

The next step is to raise some €30 million and install another 80-100 stations. It seems that Fastned continues on the path of fast growth, however the company notes operating losses at around €2 million (unaudited).

Highlights:

  • With volume growth of 166% Fastned outpaced FEV registrations (79% during the same period).
  • 11 new stations were opened during the first 6 months of the year, bringing the total network up to 76 operational stations.
  • On top of that, Fastned added 175 kW (350 kW ready) fast chargers on 13 stations, with which electric drivers can charge even faster.
  • Fastned opened its first station in Germany along the A3 at Limburg an der Lahn.
  • Fastned won a tender to build and operate two fast charging stations in the United Kingdom, in Newcastle and Sunderland.
  • Fastned signed an agreement with the real estate entity of Albert Heijn to offer fast charging at three of their supermarkets.
  • Fastned implemented Autocharge, which allows registered users to simply plug in their car and charge.
  • Fastned received a subsidy of over €1.4 million from the Benefic program to assist in the development of fast charging stations in the Netherlands, Flanders and Brussels (announced in July 2018).
  • Fastned is assisted by investment bank Lincoln International to raise € 30 million of new capital via a private placement. The goal of this new capital raise is to build 80 to 100 new fast charging stations.

Fastned results in the first half of 2018 – revenues

Fastned results in the first half of 2018 – energy dispensed

Fastned results in the first half of 2018

Source: Fastned

Categories: Charging

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8 Comments on "Fastned Reports 2018 H1 Results – Delivered Over 1 GWh Of Electricity"

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Bla blubb

Wow, no wonder nobody jumps into the charging business. 500k revenues across 75 stations with investments in the millions. How do you ever turn this profitable? They doing great work, but from the outside it’s really hard to see the light.

John

these numbers sound just like Teslas, horrible. The bet is on the future and I hppe companies like these are around to see it

Bla blubb

Yes, but Tesla has a product which is scalable and can earn a lot more money. How is this going to happen here? I hope with higher EV penetration there is going to be more revenue per charger, otherwise the fix costs will kill them. Maybe utilities are in a better position when you also sell the ‚juice‘

Rolando

They are burning cash faster than Tesla ….. at least as percentage of their investment.
No wonder so few charging stations are operated in Europe.

Bla blubb

Agree with the first part, but Western and Northern Europe has quite a decent charging infrastructure by now. There are thousands of high speed chargers and there are tens of thousands of L2 chargers available today. I wouldn’t call this bad.
http://ccs-map.eu/stats/
https://www.goingelectric.de/stromtankstellen/statistik/

Rolando

The main problem in central Europe is not the number of chargers, but the “Babylonian” billing system, with dozens of different operators all with different ‘membership cards’ or cellphone apps for specific telco providers only etc. and crossing the border to a neighboring country is often another roadblock. So some EV owners have 30 membership cards of charging operators and still face troubles.

I was asking the biggest EV rental company Nextmove in Germany last week about EV rental for my Europe holiday next year, and they still need to work out a route with possible charger operators, so the main focus is where to ‘charge up’ rather than enjoy holiday sightseeing with my family.
This would be a nightmare as I do not reside in Germany, so no chance to get a dozen different member cards mailed, I don’t have a bank account for auto-debit for those cards, nor a local GER cellphone contract for billing via phone-apps — in short hopeless.

Stuly

Go to the Netherlands for holidays. Everything works with one card or app

Blablubb

There are many ‘roaming’ offers like https://www.plugsurfing.com/en/
But agree, there is a lot to be done!