Fastned sold a record amount of renewable energy and opened its first station in Denmark in the fourth quarter of 2023

  • Revenue related to charging grew to €19.2 million (+44% vs. Q4 2022)
  • Gross profit reached €14.2 million (+77% vs. Q4 2022)
  • Renewable energy sold reached 32 GWh(+79% vs. Q4 2022)
  • Handled nearly 1.3 million charging sessions (+64% vs. Q4 2022)
  • Opened 19 new stations, adding a total of 55 new stations in 2023
  • Secured 22 new locations in Q4, including 7 locations in Spain; adding 59 locations to the pipeline in 2023

Amsterdam, 16 January 2024. Fastned, the European fast charging company, delivered 32GWh of renewable energy during the fourth quarter of 2023, an increase of 79% compared to a year ago, more than half of what was delivered in all of 2022. Charging revenue increased by 44% to €19.2  million in the fourth quarter of 2023, a lower increase than in energy sold, as prices were higher last winter due to the energy crisis at the time. The company continues to drive the transition to cleaner mobility. In the last quarter of 2023, 19 new stations were opened, including its first in Denmark. 

In the final quarter of 2023, we opened 19 new stations across our network, including Fastned’s first station in Denmark, only five months after winning our first Danish tender. Another first during the quarter was the opening of our 39th  German station in Düren. Fastned was the first company to open a station under the important “Deutschlandnetz” tender, with many more stations to come. I’m extremely proud of all our colleagues and suppliers who worked hard to make all this happen, often under challenging weather conditions.

During the quarter, we counted nearly 1.3 million charging sessions, generating 19.2 million euros of charging revenue.  The incredible journey we’ve made since the early days, and the exponential growth that lies ahead, strengthens my conviction that we’re on the right path. The best charging concept awards we won for the second year in a row,  in the Netherlands and the UK, as well as the record of 31 million euro in new bonds sold to investors in the quarter, only underscore that conviction.

Michiel Langezaal, CEO Fastned

We deliver more energy to more EV drivers

  • In Q4 2023, Fastned sold a quarterly record of 32 GWh of renewable energy, 79% more than in the same period last year. The results were driven by a strong battery electric vehicle (BEV) market momentum. Compared to Q4 2022, the BEV fleet across our markets grew by 37% in the Netherlands, 101% in Belgium, 43% in France, 28% in Germany, 30% in the United Kingdom, and 50% in Switzerland. Fastned continues to outgrow the charging market.
  • During the last quarter of 2023, vehicles charged at Fastned nearly 1.3 million times, 64% more than in the same period a year ago.
  • During Q4 2023, Fastned’s network of fast charging stations enabled more than 380,000 active customers (+31% vs Q4 2022) to drive more than 160 million electric kilometres and helped avoid an estimated 30.9 thousand tonnes of CO2.

Growing the network in existing  and new markets 

  • In Q4 2023, the company added 19 new stations to its network. Fastned opened 5 stations in the Netherlands, 5 in France, 3 in the UK, 2 in Germany, 2 in Switzerland, 1 in Belgium, and the very first station in Denmark. This brings the total number of stations to 297 in seven countries at the end of the year. 
  • In the quarter, 22 new locations were added to the pipeline. During all of  2023, 59 locations were added, resulting in a total pipeline of 432 sites at the end of the year. This excludes the many sites expected to be added through the “Deutschlandnetz” tender win in the third quarter in which Fastned was awarded 92 search areas. 
  • In 2023, strong progress was made targeting private sites: the number of new locations won on high-traffic private land more than doubled to 45 compared to 2022. Meanwhile, we also won public tenders for 14 locations in six of our markets.
  • Of the new locations, 7 are in Spain, yet another new market entry for Fastned. More information can be found in this press release

Offering the fastest charging experience

  • A total of 157 additional chargers were installed at new and upgraded stations during the last quarter of the year, bringing the total number of chargers in the network to 1,714. The average number of chargers per station increased to 5.8  at the end of Q4 2023, compared to 5.1 at the end of 2022.
  • In Q4 2023, annualised average sales per station reached 447MWh (+40% vs. Q4 2022), generating an annualised revenue per station of €267 thousand.
  • The utilisation rate grew to 14.4% during Q4 2023 (13.2% in Q4 2022), driven upwards by more charging sessions. Without capacity expansion, like-for-like utilisation would have grown to 18.4% in Q4 2023.
  • By installing chargers with a capacity of up to 400kW, we offer EV drivers the fastest charging experience in Europe. At the end of Q4 2023, Fastned’s network already counts more than 5% of 400kW chargers and more than 73% of 300kW chargers.
  • Fastned continues to be awarded the best charging network by experts and EV drivers. For the second year in a row, Fastned received two awards during the last quarter of the year, for best “en-route public charging network” by ZapMap in the United Kingdom and “favourite fast-charging network” by Autoblog in the Netherlands.

There will be a webcast about this Q4 2023 trading update today, 16 January, from 11:00am to 12:00pm CET. To join the webcast, please click here to register. You can find today’s investor presentation, as well as earlier financial publications here


About Fastned

Fastned is on a mission to accelerate the transition to electric mobility. Since 2012, we’ve been at the forefront of European charging infrastructure development, building and operating a rapidly growing network of iconic fast charging stations. Our yellow, nature inspired stations create a welcoming environment for drivers during the 10-15 minutes it takes to charge up to 300 km of range. By offering Europe’s most reliable, convenient and joyful charging experience, we aim to inspire millions to drive on solar and wind energy so that together we can curb climate change. Fastned is listed at Euronext Amsterdam (AMS: FAST).