Fastned Revenue Increased 140% In Q1 2018

APR 25 2018 BY MARK KANE 2

Dutch company Fastned announced that during the first quarter of this year, revenues from fast charging stations increased by 140% year-over-year.

In total, 66 stations dispensed 483,487 kWh (+148%) for €210,962 (+140%) to 8,303 (+136%) customers.

Read Also – Fastned Installs First 350 kW Fast Chargers, 175 kW Units Too

According to Fastned, 30% of stations achieved operational break-even (all operational costs associated with these stations are covered by revenues generated at those same stations).

Now, Fastned is going to raise €30 million for the next 80-100 stations with a goal of having 200 in four countries.

Fastned fast charging station

Highlights: 

  • Fastned opened 3 new stations based on a new modular design, bringing the total up to 66 stations that were operational at the end of the quarter. Additionally, construction was started of a new batch of 12 stations in the Netherlands, and preparations for the first 18 stations in Germany are now in full swing.
  • Fastned installed next generation fast chargers at four stations, allowing electric vehicles to charge up to 175 kW and even 350 kW; up to 100 times faster than at home.
  • During the first quarter 30% of all Fastned stations have passed the operational break-even point. This means that all operational costs associated with these stations are covered with revenues generated at those same stations.
  • Fastned lost a court case in which we raised the question if the State is allowed to give out permits for the placement of charging poles at service areas to petrol stations that didn’t participate in the public tender procedure for charging stations at service areas along national highways in 2011. Fastned has filed an appeal to this ruling.
  • Fastned has signed an agreement with the real estate company of Albert Heijn to start a pilot with fast chargers at three of their supermarkets. In case the pilot proves successful for both parties, there is an intention to quickly expand the number of locations.
  • Fastned has started a funding round to raise € 30 million of new capital via a private placement, assisted by investment bank Lincoln International. The goal of this new capital raise is to build 80 to 100 new fast charging stations, which would allow the network to grow to around 200 stations in four countries. As such, it is an important step in our ambition to develop a fast charging network with 1000 charging stations throughout Europe.”

Fastned – Q1 2018 Revenue: € 210,962 (+140%)

Categories: Charging

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2 Comments on "Fastned Revenue Increased 140% In Q1 2018"

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arne-nl

Fastned made owning an EV in The Netherlands a joy. The main reason is dependability.

Back in the old days before Fastned, when planning a trip, you’d need to have a plan B and even C in case the charger was occupied, broken or ICEd.

The first problem was attacked by placing at least 2 chargers at every station

The second problem was eliminated by styling their charging stations to resemble gas stations. Other charging companies are stupid enough to place a fast charger at a parking space, putting up some signage and then hoping ICE drivers will see and/or respect that. Or hoping that (PH)EV drivers respect the max parking time of 30 minutes. Very often I have encountered abandoned (PH)EV’s at fast chargers that had finished charging but the driver nowhere to be seen. Homo homini lupus est. Whether you drive an ICE or EV it makes no difference.

Bla blubb

Wow, this is a scary business. No turnover but capital expenditure with very little Hope of a scale effect.