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Fastned trebles revenues in 2018, widens loss while expanding

Romania, Iasi

April 2 (Renewables Now) - Fastned BV, the Dutch developer and operator of fast charging stations for electric vehicles (EV), saw its 2018 revenues jump by 195% to EUR 1.64 million (USD 1.8m) on the back of a growing customer base.

The company recorded a net loss of EUR 6.27 million, widening by more than a million from the previous fiscal year, and including "non cash" depreciation costs of EUR 1.48 million. Fastned said Tuesday that the expanded loss was in part due to a decision made by the management to invest in further growing the network.

The number of customers increased to 17,923 from 6,279 in 2017. Throughout the year, they charged more than 2,900 MWh at Fastned’s stations, up by 189% year-on-year. Revenues from the sale of electricity reached EUR 1.3 million, going up from EUR 531,000 in 2017.

The number of fully electric cars in the Netherlands, Fastned’s core market, has more than doubled in a year, the company said citing statistics from the Dutch Enterprise Agency (RVO). This has prompted Fastned to continue with building more stations, placing more chargers and expanding capacity.

(EUR 1.0 = USD 1.12)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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