‘Charging Day 2022’: Fastned sets new ambitions at first Capital Markets Day
- Network expected to reach more than 400 stations before year-end 2024, with a minimum build pace of 100 stations per year
- Fastned working on entries into new European markets and opening the first Fastned shop in H2 of 2022
- Fastned expects average annual revenue per station to reach at least €400,000 in 2025 and be above €1 million in 2030
- Underlying company EBITDA1 expected to be positive in 2023 and operational EBITDA margin expected to exceed 40% by 2025
Fastned, the European fast charging company, today announces new ambitions and financial targets for the coming years at its first Capital Markets Day, ‘Charging Day 2022’. This afternoon from 3 pm (CET), members of Fastned’s leadership team will elaborate on the company’s business model and strategic direction during a virtual event for investors and analysts.
“In ten years, we have built one of the largest networks of fast charging stations, covering six countries in Europe, and we offer one of the best charging concepts in the market. But we’ve only just begun. Sales of electric vehicles in Europe will grow exponentially in the coming years. Fastned is uniquely positioned to cater to the exponentially growing charging needs of all of those new electric cars hitting the roads. We’re constantly working to increase the pace at which we roll out our network while entering more countries in Europe as the electric vehicle revolution continues. We have set ourselves a concrete growth ambition: to reach 1,000 stations that offer the best customer experience before the end of 2030. I look forward to a future in which we will deliver profitable growth, driven by our mission to accelerate the transition to sustainable mobility.”
1,000 stations by 2030
Fastned remains committed to accelerating the growth of its network of fast charging stations in Europe to prepare for the growing number of electric vehicles hitting the roads in the coming years.
By year-end 2024, Fastned aims to double the size of its network to at least 400 stations, which is expected to require additional funding of between €50 million and €75 million. Fastned expects to reach a building pace of 100 stations per year by 2024 and growing thereafter. Before 2030, Fastned expects to reach its ambition of having a network of 1,000 fast charging stations at prime locations, such as along high-traffic corridors in Europe.
In addition to opening new stations, Fastned will further expand its network by adding more chargers to its existing locations. The average number of chargers per station will increase from four in 2021 to six by 2025 and more than eight by 2030.
Fastned’s revenue is expected to grow strongly, driven by the growing fleet of electric vehicles needing to charge, a growing demand for fast charging and a growing number of high-traffic charging stations.
Electric vehicle penetration will directly drive station sales. Fastned expects average annual revenue per station to reach at least €400,000 in 2025 and be higher than €1 million in 2030. Underlying company EBITDA is expected to become positive by 2023 and Operational EBITDA margin is expected to exceed 40% by 2025.
Fastned sees potential to grow its network along motorways in its key markets, and gradually expand to new markets in Europe. The company is first targeting the countries neighbouring its existing network, focusing on countries with extensive motorway networks and those with high numbers of new electric vehicle sales.
Growing the business
Fastned sees further opportunities to grow beyond its core business, opening the first Fastned shop at its station in Brecht between Antwerp and Rotterdam later this year. The company has developed a modular concept that will be easily scalable for a range of locations. Allowing customers to enjoy a coffee and sandwich while charging will significantly improve the customer experience and marks an important step towards the realisation of full-service charging stations.
Another area of growth lies in catering for the growing market of electric trucks. Fastned is making plans to better accommodate large vehicles, for example by creating bigger turning circles at its stations.
Charging Day 2022
These ambitions will be further explored at Charging Day 2022, starting today at 3 pm (CET). To watch the live webcast, visit the Charging Day website. Here you can also find all presentation materials and, afterwards, a recording of the webcast.
1. Underlying company EBITDA excludes exceptional items. Non IFRS measures are defined in the 2021 Annual Report on page 64.
Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012. Fastned’s mission is to accelerate the transition to sustainable mobility by giving freedom to electric drivers. Based in Amsterdam, the company has built 207 fast charging stations in the Netherlands, Germany, UK, Belgium, France and Switzerland. The company specialises in developing and operating fast charging infrastructure where drivers can charge their electric vehicle with up to 300 km of range in 15 minutes before continuing their journey. Fastned is listed on Euronext Amsterdam (ticker AMS: FAST).