Fastned’s revenues grow 51% in first half of 2020
Fast charging company Fastned has grown revenues related to charging by 51% in the first half of 2020 compared to the first half of 2019. Fastned achieved record deliveries in the first two months of the year, followed by a reduction of up to 70% in March and April, and a steady recovery in May and June. In the last weeks of July volumes were over 70% of February levels.
Key numbers
- Revenue related to charging: € 2.7 million (+51% vs. H1 2019)
- Volume: 4,805 MWh of renewable energy delivered (+54% vs. H1 2019)
- Active customers Q2 2020: 29,989 (+15% vs. Q2 2019)
- Over 273K charging sessions
- 3,772 tons of CO2 avoided
- 24 million electric kilometers enabled
Highlights:
- Despite the Corona pandemic Fastned sold 54% more electricity in H1 2020 compared to H1 2019, avoiding 3,772 tons of CO2 emissions.
- € 7.9 million run-rate annualised revenues in January plus February (+160% versus 2019) was followed by a 70% reduction in sales in the first weeks of the lockdown. Weekly sales were over 70% of February levels in the last weeks of July and showing steady growth.
- Operational EBITDA and Operational EBITDA per station grew strongly, by 286% and 182% respectively.
- 2 new stations were opened, bringing the total up to 116 stations by the end of June. This limited number of new stations is a consequence of postponing the construction of stations due to Corona lockdown measures. Another 2 new stations were opened in July, bringing the total number of operational stations in the Fastned network to 118.
- During the first half of the year a total of 17 fast chargers were installed as part of a station upgrade programme.
- Part of planned capital expenditures was postponed to mitigate the financial impact of Corona. This, and the recent bond issue (July 2020), have resulted in an increased minimum cash buffer which will guide Fastned well into 2022.
- With the acquisition of the fast charging company of MisterGreen, Fastned obtained the rights to operate fast charging stations at 16 high traffic service areas in the populous western part of the Netherlands.
Download the full H1 report 2020 here.
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Afterwards the webcast will be published on our website.
Fastned's mission is to give freedom to the electric driver and accelerate the transition to electric driving. That is why Fastned is building European network of a thousand fast charging stations. At these stations, electric drivers can add up to 200 km range in 15 minutes with electricity from the sun and wind. Fastned has 118 fast charging stations in the Netherlands, Germany and the United Kingdom. All stations are open to the public 24/7. Fastned is listed on Euronext Amsterdam (ticker AMS: FAST). More information: fastnedcharging.com.