Fastned Triples Revenues in the First Quarter of 2019

AMSTERDAM, April 9, 2019 /PRNewswire/ --

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. 

Download the Fastned Q1 results and graph here. 

[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).

Notes for editors (not for publication): 

About Fastned: 

Fastned is a charging company that is building a European network of fast charging stations where all electric cars can charge as fast as possible. The stations are located at high traffic locations along the highways and in cities, where electric cars charge in an average of about 20 minutes. This will give electric cars the freedom to drive across Europe. Fastned has 91 stations operational in the Netherlands and Germany and is working on expanding its fast charging network to the rest of Europe. Fastned is simultaneously building fast charging stations in the Netherlands, Germany and the United Kingdom and is preparing for expansion in Belgium, Switzerland and France. More information: fastnedcharging.com.

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