Press Release: Revenue Fastned grows by 230%

30 July 2019

Builder of European fast-charging network announces half-year results

Amsterdam, 30 July 2019. Fastned, the charging company that is building a European network of fast charging stations, reports a revenue growth of 230% compared to the same period in 2018. The revenue for the first half of 2019 amounted to €1.780 million. Fastned has been listed on Euronext Amsterdam since 21 June 2019 and had €15.3 million in cash at the end of June.

Fastned has again made strides to realise its mission: create freedom for the electric driver. The fast-charging network grew to a total of 102 stations at the end of June. With the opening of its first station in the United Kingdom, Fastned now has stations operational in three countries. The capacity of the total network has also been expanded by installing new and faster chargers at existing stations.
 

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Results first half year 2019

  • Revenue: €1.780 million (230% vs. H1 2018)
  • Volume: 3,119 MWh (195% vs. H1 2018)
  • Active customers: 26,085 (174% vs. H1 2018)


Highlights: 

  • Fastned sold more electricity in H1 2019 than in the whole of 2018, avoiding 2,698 tons of CO2 emissions during the first half of the year.
  • Fastned opened 17 new stations in the first 6 months of the year - including its first station in the UK - bringing the total up to 102 operational stations by the end of June (currently 106 stations). 
  • Fastned won a tender awarded by the Swiss Federal Roads Office (FEDRO) for 20 fast charging stations for a period of 30 years and a second tender in the UK led by the North East Joined Transport Committee. 
  • In the latter, Fastned will build and operate five fast charging stations (hubs) for electric vehicles across the region.
  • Fastned passed the EBITDA break-even point during the first quarter of 2019 on an operating level. Gross profit for H1 2019 was €1.411 million (+269)% vs H1 2018.
  • In March, Fastned raised €10.689 million via an issue of bonds. 
  • Fastned listed on Euronext Amsterdam on June 21st. Thereby gaining access to more and larger investors to finance future expansion as well as improving liquidity for existing certificate holders.
  • Fastned as expected reports a net loss of €4.432 million excluding €826 thousand non-recurring costs related to the listing on Euronext Amsterdam.


The full half year report for 2019 can be found at ir.fastnedcharging.com.

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