Fastned triples revenues in the first quarter of 2019
Fast charging company publishes Q1 2019 trading update
Fastned, the charging company which is building a European network of fast charging stations, continued its rapid growth in the first quarter of 2019. Revenues tripled compared to the same quarter last year. At the same time the underlying market, being the number of fully electric vehicles on the road, continued to grow. The market share of fully electric cars sold in the Netherlands as a share of new car sales rose to 7,32% in the first quarter of 2019, up from 3,15% in the same quarter last year[1].
Q1 Results 2019 (unaudited)
● Revenues: €844,000 (+236% compared to Q1 2018)[2]
● Volume: 1,520 MWh (+215% compared to Q1 2018)
● Active customers: 22,717 (+174% compared to Q1 2018)
Q1 milestones:
● 36,713 charging sessions in March 2019
● Five new stations were brought online: Van der Valk Gladbeck and Melle West; Albert Heijn XL Nijmegen, Pilsting and Oudenhorst, resulting in 90 stations operational as of 31 March 2019
● The first Tesla Model 3s with CCS started to charge at Fastned, with charging speeds of up to 126 kW at the 175 kW chargers
● Fastned won a Swiss tender that allows for the construction and 30-year operation of 20 fast charging stations at Swiss motorway service areas
● Fastned won a second tender in the North East of England for 5 fast charging stations
● In March 2019, Fastned successfully raised over €10.6 million via the issue of bonds.
Please note that the information included in this press release is unaudited and not reviewed.
[1] Based on data from the EV Monitor by EV Consult.
[2] In its previous quarterly trading updates Fastned’s reported Revenue related to the sales of electricity only. Starting with this report on the first quarter of 2019, the Revenues reported includes sales of electricity and maintenance fees and other operating revenues. The presented growth of Revenues in Q1 2019 compared to Q1 2018 is on a like-for-like basis.
Important legal information:
The financial information contained in this press release has not been audited or reviewed by an external auditor and are provided ‘as is’. Fastned or any of its affiliates do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions.
This press release is prepared by Fastned B.V. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. This press release contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
Fastned is a charging company that is building a European network of fast charging stations. The stations are located at high traffic locations along highways and in cities, where electric cars can add up to 200 km range in 15 minutes. Fastned's mission is to give freedom to electric drivers and accelerate the transition to sustainable mobility. As of today, Fastned has 114 stations operational in the Netherlands, Germany and the United Kingdom, and is working on expanding its fast charging network to the rest of Europe. Fastned is currently simultaneously building fast charging stations in the Netherlands, Germany and the United Kingdom, and preparing for building its first stations in other countries, with a focus on Belgium, Switzerland and France. Fastned is listed on Euronext Amsterdam (ticker AMS:FAST). More information: fastnedcharging.com.