Fastned revenues up 14% in Q4 2020
Fastned, the European fast charging network for electric vehicles, has grown revenues related to charging by 14% in the last quarter of 2020 compared to Q4 of 2019. This growth was realised despite strict lockdown measures in all relevant markets. Sales were impacted as a result of many people working from home and generally driving less. At the same time the underlying market of electric vehicles grew at an accelerated pace, growing the customer base.
“In March, as a result of the first lockdown measures, our deliveries took a hit of up to 70%. Volumes have been recovering since then, driven by strong underlying market growth. In the fourth quarter of 2020 we managed to exceed pre-Corona delivery volumes, despite the strong lockdown measures in place in all of our markets. When these restrictions are removed we expect accelerated growth. We continue to invest in the expansion of the capacity of our network to be ready for this.”
Key numbers:
- Revenue related to charging: € 1.9 million (+14% vs. Q4 2019)
- Volume: 3.3 GWh of renewable energy delivered (+13% vs. Q4 2019)
- Active customers Q4 2020: 53,309 (+25% vs. Q4 2019)
- Over 194K charging sessions (+12% vs. Q4 2019)
- 16.6 million electric kilometers enabled, avoiding 2.6 million Kg of CO2
Highlights Q4:
- The number of fully electric vehicles registered grew significantly in all of our markets year on year: 68% in the Netherlands in Q4, 77% in Germany for Q3, 119% in the United Kingdom in Q4, and 51% in Switzerland in Q3 (Note: data for Belgium is not available)
- Fastned opened 8 new stations, bringing the total up to 131 stations by the end of December
- A total of 16 additional fast chargers were installed on 5 existing stations as part of continued capacity upgrades
- Together with Tesla and Seed & Greet, Fastned opened Germany’s largest fast charging hub located in Kreuz Hilden close to Düsseldorf
- Fastned opened its first fast charging station in Belgium, close to the airport of Ostend-Bruges
- Fastned opened the first of multiple fast charging stations at REWE supermarkets in Germany. REWE Region Mitte and Fastned join forces to support sustainable mobility
- Fastned opened its first station in Switzerland, close to Zurich, adding a 5th country to its European fast charging network
- Fastned won a tender for 9 fast charging stations along key French motorways
- Fastned won an important lawsuit at the Dutch Council of State: the Minister of Infrastructure and Water Management may not simply grant permissions for chargers at restaurants and petrol stations along the highway
- Fastned raised over 17 million euro with the issue of bonds. In addition, investors have exchanged close to 4 million euro worth of bonds from earlier issues to new bonds, bringing the total issued amount in Q4 to more than 21 million euro
- The goals of milestone 4 of the Fastned option policy for employees have been met, with 150kW charging now available at more than 50% of Fastned stations, and the company’s market capitalisation exceeding 400 million euro
Today from 11:00am to 12:00am CET there will be a webcast about the Q4 2020 trading update. To join the webcast please click here to pre-register. Please find the investor presentation here.
Afterwards the webcast will be published on our website.
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 131 fast charging stations in the Netherlands, Germany, the United Kingdom, Belgium and Switzerland. Fastned is working on the expansion into France. 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 has 70+ employees across 6 markets (the Netherlands, Germany, the United Kingdom, Belgium, France and Switzerland) and is listed on Euronext Amsterdam (ticker AMS: FAST).