During the first quarter of 2021, Fastned increased its revenues related to charging services by 15% year-over-year to €2 million, by delivering 13% more energy (3.6 GWh).

Those are positive results, but the relatively small growth rate clearly indicates that the market is limited by the lockdown measures.

The Dutch company expects that once the lockdown measures will be fully lifted, we will see a strong recovery. Let's get into details and see the expansion plans of the fast-charging network for 2021.

Fastned 2021 Q1 results (vs Q1 2020):

  • Revenue related to charging: €2.0 million (up 15%), on average €0.56/kWh (vs €0.54)
  • Volume: 3.6 GWh (+13%), on average customers used 65 kWh/customer (vs 76 kWh)
  • Active customers: 55,684 (+34%), on average spent €36/customer (vs €41)

Fastned has a total of 134 stations (105 in the Netherlands, 19 in Germany, 6 in the UK, 2 in Belgium and 2 in Switzerland).

  • Number of stations: 134
  • Number of chargers: 495
  • The average number of chargers per station: 3.7

The average revenue per single station was at about €15,925 per year, by delivering some 27 MWh of electricity.

Considering the number of 194,000 charging sessions, we can also estimate the average outcome:

  • about €10.3 of revenue per session (vs €9.7)
  • about 18.3 kWh per session (vs 18.6 kWh)
  • about 3.5 sessions per customer per year (vs 4.2)

Highlights 2021 Q1:

  • "Over the course of Q1 2021, Fastned grew its network to 134 charging stations, each with multiple chargers. Fastned strengthened its position in two of its newest markets, Belgium and Switzerland, where it opened additional stations
  • The number of acquired locations reached 300 as of Q1 2021 (YE 2020: 287), including 134 stations operational (YE 2020: 131)
  • A total of 39 additional ultra fast DC chargers were installed during the first quarter, as part of new station construction as well as upgrading of existing stations, bringing the total number of chargers in the network to 495. The number of chargers per station reached 3.7, vs. 3.5 YE 2020
  • As a consequence of lockdown measures and of Fastned’s progress in station upgrades to expand capacity, utilisation during the first quarter of 2021 was 7.5% vs. 9.3% in Q1 2020
  • On the back of market momentum and the foreseen increase in demand for fast charging, Fastned raised 150 million euro in gross proceeds through an accelerated bookbuild in February. The proceeds are being directed towards the construction and development of the committed pipeline, accelerating the development of the potential pipeline and funding the capex for significant upcoming government related tenders, including in France and Germany
  • In March, Fastned was selected as the best fast charging company in the Netherlands by ANWB (the Dutch organization for traffic and tourism), compared to Ionity, Shell Recharge and Allego. The result is further evidence of Fastned’s strong commitment to provide customers with a seamless and reliable charging experience"

The full report can be found here.

Fastned outlook for 2021

The thing that interests us the most is the expansion of the fast charging infrastructure. Fastned intends to install at least 40 new stations this year, and about 200 new DC fast chargers.

The goal for 2021 is to exceed 170 stations and 800 chargers. The average number of chargers per station would increase to over 4.5.

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