Strong revenue growth for Fastned charging point provider

Strong revenue growth for Fastned charging point provider

Photo: ANP

Fastned electric vehicle charging station operator turnover rose sharply in the third quarter. According to Fastend, this growth is due to the continuous increase in the number of electric vehicles and a larger and larger number of stations in the company’s network. Fastned now has more than a thousand charging devices in use in the six countries where the company operates.

Charging turnover, the income related to charging electric vehicles, has tripled year on year to just over 10 million euros. According to Fastned, there were 593,000 charging sessions by 190,000 active customers at its terminals last quarter.

The Amsterdam-based company is expanding. This year, Fastned has already acquired 33 new locations, bringing the total at the end of the third quarter to 359. Six new stations were opened in the last quarter and the company is working on the ground work at more than 20 locations. The goal is to open at least 65 new charging stations before the end of this year.

The listed company is active in the Netherlands, Belgium, France, Germany, the United Kingdom and Switzerland. Due to the sharp rise in energy prices, Fastned had to raise its prices. If wholesale energy prices start to fall again, Fastned is hoping it can bring prices down again.

Explaining this, CEO Michel Langzall said that due to the energy crisis, he sees “increasing momentum” among governments, businesses and citizens to support the transition to clean and renewable energy. “Given this challenging period, I hope we can conclude that it fueled the shift to renewable energy and brought us closer to a world without fossil fuels.”

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