The second quarter was much weaker than the first one, but things are getting better recently.

Fastned, the Dutch fast charging network, has started the year with two record months, but the COVID-19 lockdown quickly reduced the monthly usage by 70% in March and April. Then the number of charging sessions gradually improved to over 70% of the February level as of the end of July.

Such a roller-coaster has highly affected the results for the first half of the year, although both revenues and volume improved by more than 50% year-over-year.

2020 H1 results (vs 2019 H1):

  • Revenues (total): €2.682 million (+51%)
  • Revenues (related to charging): €2.194 million (+56%), on average at €0.46/kWh
  • Volume: 4,805,000 kWh (+54%), on average customers used 160 kWh/customer
  • Active customers: 29,989 (+15%), on average spent €73.2/customer
external_image

The number of over 273,000 charging sessions per year reveals also some other average results, like:

  • €8.0 of revenue per session
  • about 17.6 kWh per session
  • 9.1 sessions per customer

Fastned's network has added two new stations in June and two more in July, which brings the total to 118), including 100 in the Netherlands. In parallel with expansion, the company was also installing new chargers at existing stations.

However, the expansion was slowed down to preserve cash during the COVID-19 lockdown.

Hopefully, the second half of the year will be significantly better so Fastned will be able to progress with installations of new charging stations in Europe.

external_image