The site will become Fastned’s 40th UK hub, offering a convenient, easily accessible location with eight ultra-rapid charging bays alongside Fastned’s distinctive yellow wings. The chargers can deliver up to 400 kW, potentially adding as much as 200 miles (333 km) of range in just 10 minutes. 

Located off Sefton Street at the Brunswick Business Park, on Tower Street, the brand new hub will further strengthen Fastned’s growing UK network, providing reliable, high-quality charging infrastructure to make it easier for more drivers to switch to electric.

Tom Hurst, UK Country Director at Fastned:“As our 40th UK ultra-rapid charging hub in the UK, Liverpool Brunswick marks a significant and exciting milestone, as we continue to expand our network and make it easier for EV drivers to go further. Liverpool draws visitors from far and wide for its legendary music, football, waterfront, museums, architecture, nightlife and food.

“Located at Brunswick Business Park, just a short drive from the city centre, shops and vibrant Baltic Triangle, the new hub provides convenient charging for local businesses, residents and visitors alike, making it easy to charge up and explore everything Liverpool has to offer. 

“We’re delighted to welcome Liverpool Brunswick to the Fastned family.”

Fastned is helping communities and visitors alike stay connected by expanding its network of easy-to-use, safe and comfortable charging hubs across the UK.  

Designed for everyone, extra-wide bays make parking and manoeuvring user-friendly, including for drivers using wheelchairs or mobility aids, while suspended cable systems take the heavy lifting out of ultra-rapid charging. Fastned’s iconic yellow Solar Tree canopies make its hubs instantly recognisable, while smaller hubs feature distinctive wings. Some locations also incorporate a drive-through layout, allowing cars, vans and vehicles with trailers to charge with ease while providing shelter from adverse weather, including rain and shade from the sun.  

Many Fastned hubs also offer on-site amenities to make charging stops more convenient and comfortable, with facilities such as toilets, refreshments and nearby food options available at selected locations. 

Fastned and Vereniging Elektrische Rijders (VER) welcomed policymakers, local authorities, charge point operators, fleet leaders and industry experts to the inaugural Plugged In Café in London earlier this month.

Inspired by Fastned and VER’s successful EV Café events in the Netherlands, the first UK edition brought together voices from across the public and private sectors to explore how stronger partnerships can accelerate London’s transition to electric mobility.

Hosted at The Conduit in Covent Garden, the event created a new forum for collaboration, bringing together key stakeholders from across the EV ecosystem to exchange ideas, tackle shared challenges and help shape the future of electric vehicle charging infrastructure.

Designing an EV city around real-world charging needs

The event featured three expert panel discussions exploring the biggest opportunities and barriers shaping London’s rapidly evolving EV charging landscape.

The opening session examined how charging infrastructure must adapt to serve an increasingly diverse range of users. Moderated by Ellen Hiep (VER), the panel brought together Olly Craughan (DPD UK), Tanya Sinclair (Electric Vehicles UK) and Judith Hayton (Transport for London).

From private motorists and commercial fleets to taxis and last-mile delivery operators, the discussion highlighted the vastly different charging needs across the transport network. Panellists agreed that a diverse range of users can only be served by a diverse range of charging solutions, with no single approach able to meet every need.

As London electrifies, on-street charging and ultra-rapid charging hubs will play a vital role in supporting those without access to home charging, while enabling businesses and fleets to transition to electric. Understanding real-world behaviour and the operational needs of different users will be essential when planning the charging infrastructure of the future.

Building the charging ecosystem

Next, panellists examined the wider charging ecosystem, exploring the building blocks needed to support the EV transition.

Moderated by Fastned, this panel brought together Eleanor Clark (Transport for London), John Colgan (Places for London) and Zak Bond (Clean Cities) to explore what it will take to deliver charging infrastructure at scale.

The discussion concluded that building a future-ready charging network is about far more than installing charge points. Grid capacity, strategic land availability, investment, digital technology and strong public-private partnerships were all identified as essential ingredients in creating a reliable, accessible and resilient charging ecosystem.

Unlocking London’s charging future

Rounding off the afternoon before guests continued the conversation over drinks and nibbles, the final panel, “Policy, Planning and Permits - How do we unlock London’s charging future?”, brought together Tom Hurst (Fastned), Jarrod Birch (Charge UK) and Mark Fletcher (London Councils), with Ellen Hiep returning to moderate a lively discussion on the policy and planning changes needed to accelerate London’s EV charging rollout.

The conversation highlighted the critical role local authorities can play in removing barriers to deployment through clear electrification strategies, consistent planning decisions and stronger collaboration with industry partners.

Collaboration is key

A recurring theme throughout the afternoon was that London’s charging ecosystem must be designed around the needs of an increasingly diverse mix of users, from private drivers and commercial fleets to taxis and public transport providers.

Commercial fleets were recognised as a defining force in the evolution of new mobility, with speakers highlighting the importance of charging infrastructure that reflects the operational realities of businesses transitioning to electric.

While reducing unnecessary car movements and enabling home charging remain important levers for decarbonisation, the discussion reinforced that accessible public charging, including on-street charging and ultra-rapid charging hubs, will be essential to ensuring no driver or business is left behind.

Speakers also highlighted the need for more opportunities for national government, local authorities and the private sector to work together, sharing requirements, addressing challenges and finding solutions to deliver charging infrastructure more quickly and equitably.

Looking ahead

The inaugural Plugged In Café highlighted the value of bringing together experts from across government, transport and industry to share knowledge, address common challenges and identify practical solutions for the future of EV charging.

Fastned and VER would like to thank all speakers, moderators and attendees who contributed to the success of the event. Following the positive response, planning is already underway for the next Plugged In Café. 

To find out more or register your interest in future events, please get in touch with Denise Cannas (denise.cannas@fastned.nl).

Amsterdam, 17 August 2023. Fastned, the European fast charging company, is well on track to reach its 2023 target, as it hit a major financial milestone during the first half of 2023: Underlying company EBITDA¹ reached €2.8 million.  The strong financial growth comes on the back of the continued expansion of our network and a strong increase in EV sales across our markets. We opened 28 new stations, growing the network to 272 stations at the end of June. Our revenue related to charging increased 108% to  €26.1 million. Fastned continues to drive the transition to a cleaner world: during the first half of 2023, we delivered close to 42 GWh of renewable energy via 1.7 million charging sessions, avoiding nearly 40.5 thousand tonnes of CO₂ (+155% vs H1 2022)².

“For the first time in our history, Fastned reports positive Underlying company EBITDA. I’m extremely proud of that. This is a major milestone, confirming that we are on track to reach this target for the full year. Next to winning prizes for the best charging network in several countries, it shows that our strategy of cost-efficiently building large and visible charging stations at high-traffic locations is paying off. 

"This is also a very important achievement for me, personally. For years, people have asked me when Fastned would start earning money. My answer has always been the same: we are here for the long run, supporting the millions of drivers that want to go electric. It feels great to see that today, so many people have made that switch to driving an electric car and visit our stations. 

"Over the years, we’ve gathered around our mission a strong and growing community of EV drivers, investors, and partners, all committed to making electric driving mainstream, supporting our mission to accelerate the transition to electric mobility. Almost ten years since we opened our first station in the Netherlands, Fastned now operates more than 270 stations in six countries and counting, enabling customers to drive millions of electric kilometres without polluting the air. And it’s just the beginning. Every day we work hard towards our goal of one thousand Fastned stations in high-traffic locations by 2030, driving the transition to a fossil-fuel-free world.” Michiel Langezaal, CEO Fastned.

Our expansion strategy pays off 

• Charging revenue reached €26.1 million in H1 2023, up 108% compared to H1 2022. The results were driven by strong battery electric vehicle (BEV) market momentum. Since July 2022, the BEV fleet across our markets grew by 82% in Belgium, 42% in France, 61% in the United Kingdom, 55% in Germany, 52% in Switzerland, and 37% in the Netherlands. Fastned continues to outgrow the charging market.
• During the first half of 2023, vehicles charged at Fastned more than 1.7 million times, 86% more sessions than in the same period a year ago.
• In the first half of 2023, Fastned’s network of fast charging stations enabled almost 210 million electric kilometres and helped avoid an estimated 40.5 thousand tonnes of CO₂ . 

We opened new stations and secured new locations for future growth

• In H1 2023, the company added 28 new stations to its network. Fastned opened 10 stations in the Netherlands, 5 in Belgium, 10 in France, and  3 in the UK. This brings the total number of stations to 272 in six countries at the end of H1. 
• In H1 2023, Fastned secured 20 high-traffic locations to build new stations, bringing the total number of acquired locations to 396. After the closing of the period, Fastned announced it won a tender for three prime high-traffic sites in Denmark, expanding its network into Scandinavia.
• Fastned won Europe’s first tender for two electric-only service areas on the E17 near Ghent. These locations will be the first ‘highway service areas of the future’, serving only electric cars, each with 12 charging spots and Fastned providing additional services such as toilets, sandwiches and coffee. Construction will start in 2024.

We’re preparing for more customers to visit our stations

• A total of 256 additional chargers were installed at new and upgraded stations during the first half of the year, bringing the total number of chargers in the network to 1,493. The average number of chargers per station increased to 5.5 at the end of H1 2023, compared to 5.1 at the end of 2022.
• As a result of our continued efforts to expand our network, we kept our utilisation rate relatively flat during Q2 2023 at 10.8% (10.1% in Q2 2022). This ensures we have enough capacity to welcome the growing number of EV drivers. Without capacity expansion, like-for-like utilisation  would have grown to 14.4% in Q2 2023, compared to 10.1% in Q2 2022 
• One of the new stations we like to mention is La Maxe station, in France (A31, between Metz and Luxembourg). It’s the biggest drive-through station in our network, providing 16 charging spots and allowing it to serve hundreds of electric drivers every day.
• Fastned opened the first proper fast charging station of Wallonia in Vielsalm, in the direction of the Route du Soleil, along an important transit route from the Netherlands to France, unlocking a new itinerary for European EV drivers. The weekend following its opening, the station named “Baraque de Fraiture” was the best-performing one in Belgium, showing how consistent Fastned's strategy is when it comes to station locations.

Fastned, a great place to work

• Employees enjoy working at Fastned, contributing to our mission. This is shown by an excellent eNPS score of 58, which means that the majority of employees would recommend Fastned to a friend as a great place to work. They consider Fastned a safe work environment, where actions are in line with the mission and are motivated by an entrepreneurial mindset.
• Being a great place to work on an inspiring mission helps us grow our team: at the end of June 2023, 167 talented and motivated people worked at Fastned– 26 more than at the end of 2022.  (+19% YtD). They are key in securing and accelerating Fastned’s growth in the coming years.

We published our 2023 Interim Report today, in which we take a look back at our financial and operational achievements this last half year.

There will be a webcast about this H1 2023 trading update today, 17 August, from 11:00am to 12:00pm CET. To join the webcast, please click here to register. You can find the 2023 Interim Report and today’s investor presentation, as well as earlier financial publications here. 

¹Earnings before interest, taxes, depreciation, amortisation, exceptional items and gross profit on station construction for third parties.

² This figure, which includes the Q1 calculation, has been adjusted to reflect the current emissions factor for kg CO2 emitted per kilometer driven by a car

Almost all chargers at Fastned's newly built stations in the past year have a charging capacity of 300 kW or more. Depending on the type of vehicle, this allows recharging of up to 300 kilometres in just 15 minutes.

Since last summer, Fastned has opened more than 60 stations in Europe and added more than 560 chargers across the network.

After two years as member of the board of the FAST foundation, Liselotte Kooi was appointed chairperson of the Fastned Supervisory Board. Her extensive knowledge of the company, corporate governance, and finance will be of great value to the company. 

Bart Lubbers, a cofounder of Fastned, who has been chairperson of the Supervisory Board for the past four years, was reappointed as member for another four-year term, ensuring continuity in the Supervisory Board.

Marije van Mens stepped down from her role as a member of the Supervisory board. After a three-year term, Marije indicated that she can no longer combine her responsibilities at Fastned with her professional and personal commitments. 

As of today, Fastned’s Supervisory Board has the following members:

• Liselotte Kooi, chair
• Bart Lubbers
• Nancy Kabalt
• Jérôme Janssen

At the General Meeting of Depositary Receipts holders, which also took place today, Liselotte Kooi stepped down as member of the FAST Board, to be able to assume her new role as chair of Fastned’s Supervisory Board. She was replaced by Michiel Weghs who was appointed as new member of the FAST Board. Michiel has more than 15 years of experience in the renewable energy sector in a variety of roles. As engineer, financier, investor and entrepreneur, Michiel is eager to contribute to Fastned’s mission. 

Henk Pals was reappointed as board member of the FAST Foundation for another four-year term.

As of today, the board of the FAST Foundation has the following members:

• Maaike Veen, chair
• Henk Pals
• Michiel Weghs

Biography of Liselotte Kooi

Liselotte has almost 20 years of experience in corporate governance and finance. As a corporate lawyer at De Brauw Blackstone Westbroek N.V. and other law firms in Amsterdam and New York, Liselotte advised companies, investors, financial institutions and investment funds on corporate governance, finance and M&A transactions. She specialised in issuing and listing of financial instruments and in financial regulation and has extensive experience with governance for listed companies and board dynamics within listed companies. Since 2013 Liselotte has worked at Royal FrieslandCampina N.V., a large Dutch dairy cooperative and multinational. As Director Group Legal and Company Secretary she is co-heading the global legal department, responsible for governance and the legal and financial structure of the company, including compliance in relation to the listing of hybrid bonds. She advises both the management board and supervisory board of FrieslandCampina as well as the board of the cooperative which represents the member-farmers. Liselotte has been an electric vehicle driver for many years and has a strong belief that electric vehicles charged with renewable energy are the future. 

Biography of Michiel Weghs

Michiel has over ten years of experience driving the energy transition forward in North Western Europe. After graduating from the Delft University of Technology, he worked in the Power & Utilities team of ABN AMRO’s Corporate Finance branch. Later, he joined the Project Finance team that funded renewable projects such as large offshore wind farms. Michiel is currently employed by the Port of Rotterdam and focuses on financing sustainable projects and companies in the transportation and circular sectors. Michiel holds a Master's degree in Aerospace Engineering. 

Legal disclaimer

Please note that elements of this press release contain or may contain information about Fastned B.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014 (Market Abuse Regulation). Fastned’s Consolidated Annual Accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (“IFRS‐EU”) and with Part 9 of Book 2 of the Dutch Civil Code. All figures in this document are unaudited. Small differences are possible in the tables due to rounding or human mistakes. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward‐looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements. Any forward‐looking statements made by or on behalf of Fastned B.V. speak only as of the date they are made, and Fastned B.V. assumes no obligation to publicly update or revise any forward‐looking statements, whether as a result of new information or for any other reason. To the extent available, the industry, market and competitive position data contained in the Information come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.

About FAST Foundation

The FAST Foundation holds all shares of Fastned B.V.  (the company). For every one share the foundation holds, it has issued one Depositary Receipt. These Depositary Receipts are held by the founders of the company and all other investors in the company. The foundation was set up together with the company in 2012 to safeguard its mission and monitor business continuity while looking after the interests of the depositary receipt holders.

Fastned, the European fast charging company, has published its 2022 Annual Report. Fastned accelerated its growth in 2022 despite highly volatile energy markets and a rise in electricity prices, demonstrating resilience and flexibility in a time of crisis. Revenue related to charging almost tripled to €36.0 million (+191%). Operational EBITDA more than tripled to €8.1 million (+244% vs. 2021) supported by higher revenues, showing Fastned’s scalability and operational leverage potential. Total net loss was €22.2 million (2021: €24,6 million), while at the same time, Fastned significantly invested in growing its network. A key highlight of 2022 was building 59 stations, bringing Fastned closer to its goal of 1,000 stations in 2030. 

“In 2022, we continued to make huge strides to grow our network and team for the accelerating transition to electric mobility. Despite turbulence in the energy market leading to price increases, we more than doubled kWh sales and exceeded two million successful charging sessions. Moreover, we developed our network faster than ever before, with many new stations, as well as growing our pipeline of sites located on high traffic roads. Last year, we showed once more that Fastned is one of the leading players in the rollout of European EV charging infrastructure.  Our goal of building 1,000 stations in high traffic locations continues to be our focus in order to deliver on our mission to provide electric freedom to all EV drivers.” Michiel Langezaal, CEO Fastned

We grew our business in an unstable energy market  

• During 2022, the number of electric vehicles increased by approximately 62% in Belgium, 42% in France, 64% in Germany, 35% in the Netherlands, 47% in Switzerland and 69% in the United Kingdom. As a result, the average EV penetration rate in Fastned's markets reached 2.9% at the end of 2022, 0.9 percentage points higher than in 2021.
• Fastned almost tripled revenue related to charging to €36.0 million (+191% compared to 2021), stimulated by electric vehicle market growth. 
• More and more drivers shift from combustion cars to electric vehicles and choose to charge at Fastned’s stations. In Q4, active customers grew by 96% year on year to more than 218,000.
• Despite high volatility in energy markets, Fastned maintained a relatively stable gross profit per kWh, leading to a considerable growth in gross profit related to charging: €20.5 million in 2022 (+135% year on year).
• Fastned’s performance doesn’t go unnoticed: in 2022, Fastned raised €112 million in funding to support the future growth of the network, including a €75 million equity investment from Schroders Capital’s infrastructure fund. In addition, investors extended €9.6 million from earlier bond issues.
• The return on invested capital per station, measured as the ratio between Operational EBITDA per station and initial investment costs, shows a positive growth rate: based on Q4 annualised revenue, it reached 15.4% in 2022, compared to 9.3% in Q4 2021 and 4.1% in Q4 2020.
• In 2022, Fastned showed scalability and operational leverage potential: total Operational EBITDA grew by 244%, reaching €8.1 million.
• Fastned recorded a net loss of €22.2 million in 2022 (net loss 2021: €24.6 million), which can be explained by the charging market being still in its nascent stage combined with Fastned continuously expanding and improving its network.

We expanded our network, aiming for our goal of 1,000 stations in 2030

• Fastned added a total of 50 new high traffic locations, ending the year with a total of 376 sites in the pipeline (+13.6% compared to 2021, including operational stations). The vast majority of the locations are located on high traffic roads in line with our network development strategy. 
• In 2022, Fastned built 59 new stations, 30 of them in the last quarter alone, demonstrating the ability to increase the construction pace considerably.
• At the end of 2022, Fastned operated a network of 244 large fast charging stations (+32% compared to 2021). 
• Operational EBITDA per station reached €38.5k (+158% compared to 2021).
• Network operation costs increased by 94%, reaching €12.4 million in 2022, while the more important metric of network operation costs per charger increased by 15%. The increase is mainly driven by the growth in the number of stations and additional chargers per station. Inflationary pressures and team expansion to develop scalable solutions in anticipation of Fastned’s increasing network also contributed to the growth. 
• In total, network expansion costs grew by 78% in 2022 to €12 million, an increase mainly due to the growth of the team dedicated to network expansion, combined with inflation adjustments.

We successfully operated our fast charging stations network

• Everyone at Fastned contributes to offering the best charging experience to our customers. It results in a Net Promoter Score (NPS) of 53 which is “Excellent”, showing our customers’ willingness to recommend our service to those around them. The NPS survey also shows that Fastned scores 4.48 out of 5 for the ease of use of the stations and service, and that first-time users rate Fastned charging experience with 8.5 out of 10 (8.1 in 2021).
• A study conducted in 2022 shows that customers give an average score of 4.4 out of 5 on Fastned’s Google location ratings, one of the best results in the industry.
• In 2022, to continue offering the best charging concept, Fastned upgraded 48 stations, added bins and greeneries. At the end of the year, Fastned had 1,237 DC fast chargers on its network.
• Fastned recorded more than 2.3 million successful charging sessions (+114%) on its network.
• In 2022, the utilisation rate of the network grew to 13.2% (10.4% in 2021).

We are on a mission to battle climate change and are making important steps in our sustainability reporting 

• Fastned’s mission is to accelerate the transition to electric driving and we want to contribute to the fight against climate change. 
• To this end, in 2022, Fastned’s network of fast charging stations contributed to avoiding the emission of 40,750 tonnes of CO₂ by selling 51.9GWh of renewable energy to electric vehicle drivers. 
• In 2022, Fastned established a sustainability roadmap for the coming years that covers topics including sustainability reporting, compliance, carbon footprint calculations and the establishment of CO2 reduction targets. Information about our first materiality assessment and our first Carbon Disclosure Project (CDP) score are also detailed in the report. 
• Fastned adopted five United Nations Sustainable Development Goals (UN SDGs) to align with the UN 2030 Agenda for Sustainable Development. Moving forward, several of our ESG KPIs and targets will link to the following UN SDGs:
  • 13: Climate Action
  • 11: Sustainable Cities and Communities
  • 5: Gender Equality
  • 9: Industry, Innovation and Infrastructure
  • 12: Responsible Consumption and Production
• Fastned has begun to analyse its carbon footprint and as a first step, conducted a life cycle analysis of one of its stations. Results give insight into improvements Fastned can make to reduce related impact in the coming years.
• Fastned has voluntarily disclosed its 100% EU Taxonomy eligibility for the “infrastructure for low carbon transport” activity in preparation for mandatory Taxonomy-alignment reporting.
• To support the further growth of the company, Fastned hired in 2022 a diverse group of 60 talented, mission-driven individuals. Nurturing a ‘think like a founder’ culture, fostering an inclusive working environment and offering competitive employee benefits are considered key factors in Fastned’s success.

^{1 For non-IFRS measures definitions and reconciliation see page 93-94 of the annual report.}

Download the full 2022 Annual Report here

Legal Disclaimer

Please note that elements of this press release contain or may contain information about Fastned B.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014 (Market Abuse Regulation). Fastned’s Consolidated Annual Accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (“IFRS‐EU”) and with Part 9 of Book 2 of the Dutch Civil Code. All figures in this document are unaudited. Small differences are possible in the tables due to rounding or human mistakes. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward‐looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements. Any forward‐looking statements made by or on behalf of Fastned B.V. speak only as of the date they are made, and Fastned B.V. assumes no obligation to publicly update or revise any forward‐looking statements, whether as a result of new information or for any other reason. To the extent available, the industry, market and competitive position data contained in the Information come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.

Martlesham, England, March 10 2023. The Secretary of State for Environment, Food and Rural Affairs, Therese Coffey MP, today officially opened European rapid charging company Fastned’s latest ultra-rapid electric vehicle (EV) charging station in Martlesham. Based off the A12 at Martlesham Park & Ride, the station will cater for commuters on their way to, through, and from Ipswich.

The station initially comprises six charging bays, each of which is supplied by 100% renewable energy, and is capable of adding up to 300 miles of range to fully-electric cars in 20 minutes. Fastned plans to open a further two charging bays later this summer. 

Martlesham Park & Ride has a number of facilities, including a terminal building with a heated waiting area, local information points and toilets/baby change facilities.

The launch is Fastned’s 14^th in the UK. The new station features a highly visible solar canopy that helps EV drivers to locate the site and stay dry while charging. Reliable and easy-to-use ultra-rapid chargers, as well as a range of payment methods, mean drivers can charge easily and with confidence and get back on the road as quickly as possible. 

The new station opens as Fastned was ranked the joint best charging point operator in the UK, according to users of Zap-Map – the UK’s leading charge point mapping service. It will play a vital role in providing fast, reliable and accessible charging to the growing number of EVs, including private and commercial vehicles.

Amsterdam, 11 January 2023. Fastned, the European fast charging company, grew revenue related to charging by 177% in the fourth quarter of 2022, almost three times as much as in the fourth quarter of 2021. This puts the full year 2022 revenue at 36.0 million euro and the Q4 run-rate revenue at 53.2 million euro, showing the strong growth trajectory. In addition to opening new stations, Fastned enlarged existing stations to prepare for growing demand bringing the average number of chargers per station to 5.1 (compared to 4.0 in Q4 2021). To finance future expansion, Fastned raised in total during 2022 close to €118 million.

CEO statement / Michiel Langezaal

“The final quarter of 2022 was a very exciting one. First of all, with more construction projects ongoing than ever before in Fastned’s history, we opened 30 new stations. This is a record-breaking annual increase, bringing the total number of stations in our network to 244. Additionally, we upgraded 48 stations in total in 2022, enabling us to accommodate the growing charging demand at our existing stations. I’m extremely proud of our team and thankful to our suppliers and other partners, for making this happen. Together we will continue to work hard to speed up the building process even further, getting closer to our goal of building 100 new stations per year starting 2024. Secondly, more and larger stations, more customers and more charging sessions, resulted in 130% more kWh of renewable energy sold. The strength of our business model does not go unnoticed by investors. We raised a total of 118 million euro in additional funding during the quarter. Thirdly, our customers, and more widely, the EV community, recognise our expertise in delivering the best charging experience, which has been our focus over the last ten years. Winning three valuable awards in the UK, the Netherlands and France, fills us with pride and confidence that we’re on the right track.” 

Highlights  

Revenues keep rising 

• Revenues related to charging reached €13.3 million in Q4 2022, up 177% vs. Q4 2021. The results were driven by a continued strong battery electric vehicle (BEV) market momentum. 
• The full year 2022 revenue reached 36.0 million euro and the Q4 run-rate revenue 53.2 million euro.

New funding secures network growth targets

• In October, Schroders Capital’s infrastructure fund made a long term strategic investment via a private placement of €75 million in equity, to support Fastned's future growth.
• Jérôme Janssen was appointed as new supervisory board member in December 2022, representing Schroders Capital’s infrastructure fund in Fastned’s Supervisory Board.
• In December, Fastned raised close to €11 million with the issue of new bonds. In addition, investors have extended €2.3 million worth of investments from earlier issues, bringing the total issued amount in this round to more than €13 million. 
• In total, Fastned raised up to €118 million in 2022 to finance further expansion of its network.

On our way to reach the milestone of 250 stations

• Fastned added 30 new stations to its network during the fourth quarter: 10 in the Netherlands, 5 in Belgium, and 1 in Switzerland. In France, 14 stations were opened, opening the way from Amsterdam to Marseille. This record number of openings is getting us closer to our goal of 100 stations built per year starting in 2024.
• During 2022, the company added 59 new stations to its network. 
• Fastned upgraded 16 stations during the fourth quarter (both upgrades with faster chargers and adding new charging spots) and a total of 48 stations were upgraded in all of 2022.

Securing new locations 

• In total, 16 new locations were secured during the fourth quarter, in Belgium, France, the Netherlands, and Switzerland and in the UK.
• In all of 2022, Fastned secured 49 locations, bringing our acquired pipeline to 375 sites.  

Accommodating the growing demand of our customers

• Fastned won three awards during the fourth quarter, highlighting Fastned's aim to provide a best-in-class charging experience to our customers: Zap Map “Best EV charging network 2023” (UK), Autoblog.nl “Best fast charging networks” (NL), Automobile Propre “Watt d’or of Best charging network” (FR). 
• 219K active customers charged their EVs at Fastned’s stations during the fourth quarter (+96% YoY).
• In order to meet the demand, the team constantly increases the number of chargers to offer the best service. A total of 235 additional chargers were installed during Q4 2022, following new stations construction as well as upgrading and enlarging existing stations, bringing the total number of chargers in the network to 1,237 at the end of the quarter. 
• The average number of chargers per station increased to 5.1 at the end of Q4 2022, compared to 4.0 in the same period the previous year.
• Utilisation during the fourth quarter of 2022 was 13.2% vs. 10.3% in the same quarter of the previous year, driven upwards by more charging sessions and downwards by opening new stations as well as upgrading stations resulting in significantly more capacity, in anticipation of increasing demand over the coming years. Like-for-like utilisation was 18% with respect to Q4 2021.
• The milestone of 2 million charging sessions successfully launched by our customers was reached during the fourth quarter.
• One of the first 400kW chargers in Europe was installed at Fastned’s De Watering Station (A8) in the Netherlands, in the context of a pilot partnership with EVBox. The charger can deliver up to 100 km of range in just 3 minutes.

Contributing to a world without fossil fuels

• Fastned’s network of charging stations enabled 89.7 million electric kilometres and helped avoid an estimated 14,077 tonnes of CO2. The volume of renewable energy delivered reached 17.9 GWh (+130% vs Q4 2021).
• In a pilot, the Lingehorst station along the A2 near Beesd (Netherlands), was built using mostly emission-free equipment. It’s a first step towards emission-free construction of all charging stations. More information about the process can be found here. 

Growing the team

• Over the year 2022, Fastned hired 60 people, reaching a total amount of 159 employees  (+46% Year to Date). The new employees are key in securing and accelerating Fastned’s growth in the coming years. 

Adapting our prices to volatile energy markets

• Because of volatile energy prices, Fastned changed its prices in October (UK), November (in the Netherlands, Belgium, Germany and Switzerland) and in December in Switzerland only. As energy markets are expected to remain volatile in the foreseeable future, prices will be reconsidered every month and changed if needed, so they remain fair to our customers while ensuring a sustainable margin.

Fastned founders to sell a small portion of their holdings

• Fastned founders and investment company Breesaap will, as of January 12th, will each gradually sell up to 380,000 depositary receipts of ordinary shares in the capital of Fastned. Click here to read the full press release.

There will be a webcast about this Q4 2022 trading update today, 12 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. 

A recording of the webcast will be published on our website. 

Legal Disclaimer

Please note that elements of this press release contain or may contain information about Fastned B.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014 (Market Abuse Regulation). Fastned’s Consolidated Annual Accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS‐EU") and with Part 9 of Book 2 of the Dutch Civil Code. All figures in this document are unaudited. Small differences are possible in the tables due to rounding or human mistakes. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward‐looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements. Any forward‐looking statements made by or on behalf of Fastned B.V. speak only as of the date they are made, and Fastned B.V. assumes no obligation to publicly update or revise any forward‐looking statements, whether as a result of new information or for any other reason. To the extent available, the industry, market and competitive position data contained in the Information come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.

ABN Amro Bank will have full discretion to sell the DR’s in a measured and orderly manner on behalf of the parties. The trading plan will terminate no later than 31 December 2023. The number of DRs sold under the trading plan will, among others, depend on market conditions. Upon each sale, appropriate notifications shall be made via the AFM register.

The reason for Michiel Langezaal, Bart Lubbers and Breesaap to sell a portion of their holdings is to diversify their portfolios, satisfy tax obligations and repay family loans that were provided to establish Fastned in 2012. 

Both Bart, who is the Chairman of Fastned’s Supervisory Board and Michiel, CEO of Fastned, remain committed to Fastned and its mission to accelerate the transition to electric mobility. Together they will continue to hold a majority of the DR’s.

The parties currently hold the following interests in Fastned:  

• Wilhelmina-Dok B.V. (the personal holding company of Bart Lubbers): 39% of the DR’s
• Carraig Aonair B.V. (the personal holding company of Michiel Langezaal): 24% of the DR’s 
• Breesaap B.V. (the investment company of the Lubbers family): 6% of the DR’s.

The envisaged sales will increase the free-float and liquidity of the DR’s as traded on Euronext Amsterdam.

Market abuse regulation 

This press release contains information within the meaning of Article 7(1) of EU Regulation No 596/ 2014 (Market Abuse Regulation). 

Disclaimer

This press release is for information purposes only. The information contained in this press release does not purport to be full or complete and, in particular, is not intended to form the basis of any investment decision. No reliance may be placed by any person for any purpose on the information contained in this press release or its accuracy, fairness or completeness. Fastned will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. 

This press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. All statements other than statements of historical facts may be forward-looking statements. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms, other similar expressions or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. The Company wishes to caution you that these statements are only predictions and that actual events or results may and often do differ materially. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. Any forward-looking statements reflect the Company’s current view with respect to future events and many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, rapid technological and market change in the industries the Company operates in, as well as 4 many other risks specifically related to the Company and its operations. Accordingly, no undue reliance should be placed on any forward-looking statements.

From 29 November to 21 December, investors could subscribe to the bonds with 5% interest and a maturity of 4.5 years. Holders of Fastned bonds bought before April 2019 could extend their investment by exchanging those bonds for bonds in the new issue. Including earlier extensions, this has reduced the repayment obligation for Fastned in 2022 by nearly €11 million. 

"This year, Fastned built more stations than in any year before, and we intend to increase the built-pace even further in the coming years to reach our goal of one thousand stations before 2030. We can only do that with support of our investors and I’m proud to see that many bondholders are committed to help us accelerate the transition to e-mobility. Investing in Fastned means investing in a fossil fuel free future, and helping us build more new stations, enlarge existing ones, hire new talents, and meet the exponentially growing demand for EV charging." Victor Van Dijk, CFO Fastned

The reasons for the delayed opening of stations vary and will only have a small impact on the planned opening schedule. At the end of this year, Fastned now expects its total network to comprise 240-245 stations, having added a record number of new stations, among them the biggest stations in the network.  

A further update will be given on 12 January 2023, when Fastned will present its 4Q22 Quarterly Update.

The appointment follows a strategic investment of 75 million euro in Fastned in October 2022 by Schroders Capital’s infrastructure fund. Co-head of infrastructure equity investments at Schroders Capital, Jérôme Janssen will represent the infrastructure fund on Fastned’s Supervisory Board. 

Fastned warmly welcomes Jérôme Janssen, who will bring to the board his extensive knowledge and investment experience in relevant infrastructure sub-sectors, with a particular focus on energy transition. The other members of Fastned’s Supervisory Board are Bart Lubbers (chairman),  Marije van Mens (vice-chairman) and Nancy Kabalt (member).

The minutes of the extraordinary general meeting and the announcement regarding the nomination of Jérôme Janssen can be found on Fastned's Investor Relations page.

Biography Jérôme Janssen

Jérôme Janssen joined Schroders Capital in January 2019 as co-head of infrastructure equity investments. Jérôme was previously in charge of infrastructure investments at Crédit Agricole Assurances ("CAA"), a European leading institutional investor. Jerome is currently board member of BelEnergia SA, a European renewable energy group which develops and operates solar, wind and biowaste projects, and Autobahnplus A8 GmbH, the private concession holder of the A8 motorway section between Munich and Augsburg. He previously had several non-executive Board positions in leading European infrastructure companies among which Indigo (Europe's leading car park operator), CLH (oil logistics leader in Spain), TDF (leading French Media / Telecom infrastructure operator), Téréga (gas transport and storage operator in France) and Aéroports de Lyon. Jérôme holds a Master's degree in Finance from the University of Paris IX -Dauphine. 

The new bonds are €1,000 each. Holders of Fastned bonds bought before April 2019 can exchange those bonds for new bonds. Subscription to the bond issue starts today via the Fastned website and ends at 12:00 p.m. CET on 21 December 2022. More information can be found in the prospectus, which is available here. 

Fastned has ten years of experience in the market of fast charging electric vehicles. It has a rapidly expanding network of 220+ fast charging stations in the Netherlands, Germany, the UK, Belgium, Switzerland and France. With many construction works underway, Fastned expects the number of stations to increase rapidly in the coming weeks. 

In October 2022, Schroders Capital’s infrastructure fund made a 75 million euro strategic equity investment in the company, which will accelerate Fastned’s future growth and contribute to reaching the target of more than 400 stations before the end of 2024.