Fastned is running well, but is pushing back its target

Fastned generated a turnover of 13.3 million euros in the first quarter of this year and therefore hopes to turn over 54.4 million euros this year. According to the operator of charging stations, the doubling (+134 percent) of turnover compared to the first quarter of 2022 is simply because more is being charged due to the increasing number of electric cars in Europe.

This year, Fastned expects to be able to add at least 60 new charging stations to its charging network. The fast charging company aims to have at least 304 charging stations by the end of this year. Fastned previously expressed the expectation that it would have a total of 400 charging stations by the end of 2024, but the company is now pushing that target back. According to Fastned, this is because tender procedures take longer and there are also delays in grid connections in the Netherlands. Fastned now expects to be able to open its 400th charging station in 2025.

Interesting figures: 20.7 GWh (+124 percent compared to Q1 2022) was charged at Fastned charging stations in the first quarter, spread over 871,000 charging sessions and 240,000 customers. Over the past three months, Fastned added fourteen new charging stations to its network: two in the Netherlands, one in Belgium, nine in France and two in the United Kingdom.

Fastned expects to make a profit for the first time this year before deducting interest costs, taxes and depreciation. CEO Michiel Langezaal says in an accompanying letter that he is pleased with the European decision that there must be a charging station every 60 kilometers along European highways at the latest. This logically offers growth opportunities for Fastned, which aims to have a network of 1,000 charging stations by 2030.