Q1 update
Fastned revenue up 15% in first quarter
Fastned, the European fast charging company, grew revenue related to charging by 15% to 2 million euro in the first quarter of 2021, up from 1.7 million euro in the same quarter last year. The first quarter results were achieved despite increased Corona related lockdown measures significantly affecting travel and demand for charging, and mainly supported by an ever-growing underlying EV market.
Key numbers
Revenue related to charging: 2.0 million euro (+15% vs. Q1 2020)
Volume: 3.6 GWh of renewable energy delivered (+13% vs. Q1 2020)
2.8 million kg of CO2 avoided
17.8 million of electric kilometers enabled
Active customers Q1 2021: 55,684 (+34% vs. Q1 2020)
Over 194K charging sessions handled (+10% vs. Q1 2020)
Highlights Q1
Over the course of Q1 2021, Fastned grew its network to 134 charging stations, each with multiple chargers. Fastned strengthened its position in two of its newest markets, Belgium and Switzerland, where it opened additional stations
The number of acquired locations reached 300 as of Q1 2021 (YE 2020: 287), including 134 stations operational (YE 2020: 131)
A total of 39 additional ultra fast DC chargers were installed during the first quarter, as part of new station construction as well as upgrading of existing stations, bringing the total number of chargers in the network to 495. The number of chargers per station reached 3.7, vs. 3.5 YE 2020
As a consequence of lockdown measures and of Fastned’s progress in station upgrades to expand capacity, utilisation during the first quarter of 2021 was 7.5% vs. 9.3% in Q1 2020
On the back of market momentum and the foreseen increase in demand for fast charging, Fastned raised 150 million euro in gross proceeds through an accelerated bookbuild in February. The proceeds are being directed towards the construction and development of the committed pipeline, accelerating the development of the potential pipeline and funding the capex for significant upcoming government related tenders, including in France and Germany
In March, Fastned was selected as the best fast charging company in the Netherlands by ANWB (the Dutch organization for traffic and tourism), compared to Ionity, Shell Recharge and Allego. The result is further evidence of Fastned’s strong commitment to provide customers with a seamless and reliable charging experience