“We are proud that, again, many investors have invested in our bonds. Together, we are building a community of over 10,000 bond investors who trust Fastned to drive the transition to electric mobility. With more affordable electric cars coming to the market, more people will have the opportunity to switch to electric driving. Fastned, Europe's second largest fast charging company, is in prime position to deliver the best charging experience to these new electric drivers.” Michiel Langezaal, CEO & Cofounder Fastned. 

Through its listing, Fastned expanded access to capital markets and has since, successfully raised €225 million in equity. In addition, Fastned has raised over €200 million by issuing bonds to retail investors, growing a community of investors who trust Fastned to drive the transition to electric mobility. In 2022, Fastned was added to the Euronext Tech Leaders Index, which highlights the visibility and attractiveness of high-growth and leading Tech companies.

“Five years have passed since the listing and how amazing is it to look back and see all the achievements. At the time, Fastned was already a leading player in the Dutch fast charging market. When we hit the gong that day, we did so, with the goal of raising funds to massively expand Fastned’s network beyond borders and become a European leader in our industry. Looking back, we delivered. 

Fastned’s strategy of high-traffic locations combined with an award-winning concept put it in the unique position to accelerate its network expansion on a proven station business case. Today, this continues: to each EV driver who stops at our stations, we deliver the best charging experience. 

Looking forward, we see that the electric transition is on the verge of its next acceleration phase with a new and even larger segment of cars being electrified. Cheaper and better batteries are driving this transition. In the coming months, cars like the Renault 5 or the electric Citroen C3 will hit the streets. 

Because Fastned invested early and developed a large and reliable charging network, we are in a pole position to capture an outsized proportion of this market growth.” Michiel Langezaal, CEO and cofounder. 

As electric mobility accelerated development lies ahead, Fastned aims for a network of 420 to 450 stations by the end of 2025. This rollout will be funded with future bond issuances and Fastned’s own cash position.

¹UK, Netherlands, Belgium, Germany, France, Switzerland Sources: public data, Fastned analysis. 

The Heldair 2 solar farm developed by Ecorus is located next to Maritime Airport De Kooy and Den Helder Airport. This region has the most sunshine hours in the Netherlands. With a capacity of over 25 MWp, the solar park will provide around 22 GWh of solar energy annually, which is over a quarter of Fastned's total consumption in the Netherlands in 2023. This CPPA makes a significant contribution to reducing CO2 emissions. As with the first CPPA, the solar energy generated will be supplied to Fastned by their energy supplier Scholt Energy. Scholt will also take care of the financial and administrative settlement of the connection with Ecorus.

Whereas the eight-year agreement signed in February 2024 was for a capacity of 16.2 MWp, the second agreement has a term of 15 years.

The development, investment and construction of Heldair 2 are in the hands of Ecorus. A process that includes applying for SDE subsidy, arranging grid connection, permits and working out the design. Ecorus expects to start construction in the fourth quarter of 2024. The first solar power is expected in early 2025.

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).

About Ecorus

Ecorus uses solar energy to accelerate the business energy transition and supports the journey to net zero. Since its founding in 2010, the company combines in-depth technical knowledge with a customer-focused approach to provide tailor-made solutions that contribute to a cleaner and greener future. From feasibility studies and project development to full implementation and maintenance of solar energy systems, Ecorus ensures that each installation performs optimally and delivers maximum value.

The power generated by the solar panels during the day can be used directly at Fastned's fast charging stations, which see a lot of charging during the day. Michiel Langezaal, co-founder and CEO of Fastned: ”For Fastned, it is important that we can provide our customers with sufficient sustainably generated power at a stable price today and in the future. As the number of electric vehicles on the road grows, so does the demand for fast charging. This agreement helps to bring supply and demand together. This long-term agreement assures the solar park developer of the purchase of all generated power. This, in turn, enables them to develop new sustainable energy projects. This partnership contributes to a more sustainable future and helps us accelerate the transition to electric driving.”

Fastned guarantees that 100% of the energy sold at its stations comes from renewable sources in the form of solar and wind power. Fastned purchases Guarantees of Origin (GOs) during the year for energy generated from solar and wind. At the end of the year, it checks whether these guarantees match the total energy consumption and, if necessary, purchases additional Guarantees of Origin.

Stefano Fissolo, Senior Director of GLP Clean Energy for Europe, said: “With this agreement, we are thrilled to support Fastned’s mission to accelerate the mobility transition providing clean energy to their customers. The power of the rooftop PV project at G-Park Zevenaar is three times sustainable: it comes from the sun, it does not occupy farmland, and it protects Fastned and its customers from the volatility of energy prices. This transaction follows our recent PPA announcements in the Netherlands and Spain, further building on our clean energy initiative and, in particular, our PV program on rooftops of logistics buildings.”

Michiel van der Steen, Senior Energy Transition Specialist at Scholt Energy: “Scholt Energy is the link between producer and customer and takes care of the entire handling of the Corporate Power Purchase Agreement between GLP and Fastned. We ensure that the production profile of the PV system, which converts sunlight into energy, fits into Fastned's purchase profile every 15 minutes, including the associated Guarantees of Origin. Fastned can thus prove that it is buying the generated electricity directly. Scholt Energy handles the invoicing for both parties.”

"We take great pride in contributing in this collaboration with Fastned and GLP," says Mike Dusseldorp, Head of PPA and Energy Markets at Ecorus. "The innovative design of the PV system in Zevenaar not only increased energy output but also reduced operational costs, benefiting both GLP and Fastned. Our unique position as the builder of GLP's Zevenaar project and our experience with PPA enabled us to effectively contribute to the process and progress. For Fastned and GLP, new to CPPAs, this marks a significant step towards the future."

During the last quarter of 2023, Fastned sold a record volume of more than 30 GWh of renewable energy. More information on Fastned’s results can be found on the Investor Relation page of Fastned’s website. 

The strong performance of Fastned, although not yet profitable, comes on the back of continued growth of the charging market. The number of electric vehicles is expected to grow from 3 million in 2022 to more than 40 million in 2030*. Being one of the most experienced players in the European industry, Fastned is well-positioned to continue its high win rate for tenders and aims to build a network of one thousand stations by 2030. 

In the last quarter of 2023, electric vehicles were charged nearly 1.3 million times at Fastned’s stations, enabling more than 160 million electric kilometres to be driven without burning fossil fuel.  The success of Fastned’s charging experience amongst EV drivers has been confirmed by two recent awards** received in the Netherlands and the United Kingdom, for the second year running. By leading the transition to e-mobility in Europe, Fastned contributes to a more sustainable future.

Fastned is launching this new bond issue in the Netherlands and Belgium. More information about Fastned and the bonds, including risks, costs and fiscal treatment, can be found in the prospectus, available here.

* BNEF Electric Vehicle Outlook 2023

** UK: ZapMap; the Netherlands: Autoblog

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. 

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. 

Fastned, the European fast charging company, expands into Spain after signing a contract for the construction and deployment of its first fast charging station in the country. The yellow canopies will first arrive in Spain in Casarrubuelos, a municipality of Madrid, located on the busy A42 motorway that connects Madrid with Toledo. The station has 8 chargers, with each a power of up to 400kW, where every day hundreds of EV drivers can charge their batteries. In addition to this location, Fastned has another 6 stations coming up in Spain. The exact location of these stations and details will be communicated in due course.

Spain is a strategic new market for Fastned both in terms of motorway kilometres and car density per capita. Michiel Langezaal, CEO of Fastned says:

In Spain, the majority of chargers are located in the centre of large cities. To support the transition to e-mobility and make more drivers switch to electric cars, a strong network of fast charging infrastructure in the outskirts of cities and along motorways is needed. Fastned is ready to support this transition and help Spain reach its national targets for decarbonising mobility.

Based on current expectations, the total network will be between 295 and 302 stations across six countries, before the end of this year. These stations will offer over 1700 chargers, an increase of more than 460 since the start of this year, not only as a result of opening new stations but also continuously upgrading existing stations.   

A further update will be given on 16 January 2024, when Fastned will present its 4Q23 Quarterly Update.

‘‘We are proud that investors increasingly see Fastned as an attractive investment and want to support our mission. Our growing investor community plays a key role in supporting Fastned’s network expansion as we continue winning long-term tenders and high-traffic locations across Europe. Every new station built gets us closer to our goal of one thousand stations by 2030, actively helping to curb climate change.” Victor van Dijk, CFO Fastned.

Fastned, the European fast charging company, grew revenue related to charging by 51% in the third quarter of 2023. During the third quarter, one million charging sessions took place across the network, enabling more than 128 million electric kilometres and avoiding an estimated 24.7 thousand tonnes of CO₂. This positive impact will keep growing as Fastned builds more and bigger stations. During the quarter, Fastned made strong progress in expanding its network across Europe. The company announced its entry into two new markets, Denmark and Italy, and won two prime lots in the important German Deutschlandnetz tender that will triple the number of Fastned’s stations in Germany in the next four years.

“Fastned continues to grow in all aspects, financially and operationally, as more and more electric vehicles enter Europe’s roads and charge at our stations. How thrilling to see the exponential increase in the number of charging sessions: while it took around 6 years before we reached our first million charging sessions, we reached the second one two years later, and the third million in the seven months that followed. I'm very proud to see that this quarter, for the first time in our history, we handled one million sessions in just three months!  

Fastned is now a team of close to 200 talented people. Together, we are accelerating the transition to electric driving in Europe as we keep winning major tenders in our existing markets and in new countries, getting us closer to our goal of 1,000 stations by 2030.

 As we enter the fall with record-breaking temperatures all over the world, the need to reduce CO_² emissions to curb climate change is undeniable. Fastned is playing an important role in cleaner mobility as we enable EV drivers to drive millions of electric kilometres, without burning fossil fuel.” Michiel Langezaal, CEO Fastned

More customers and EVs to serve at our stations 

• Charging revenue reached €15.2 million in Q3 2023, up 51% compared to Q3 2022. The results were driven by strong battery electric vehicle (BEV) market momentum. Compared to Q3 2022, the BEV fleet across our markets grew this quarter by 33% in the Netherlands, 59% in Germany, 81% in Belgium, 37% in France, 72% in the United Kingdom, 46% in Switzerland. Fastned revenue continues to outgrow the average charging market growth.
• This quarter, active customers increased to almost 329k (+73% vs. Q3 2022). Together, they charged at Fastned more than 998k times, 68% more than in the same period a year ago. The amount of energy delivered almost doubled to 25.6 GWh (+86% vs Q3 2022).
• Our brand new station “Baraque de Fraiture” in Wallonia shows how successful our location strategy is: only a few weeks after its opening, at the peak of the holiday season, 159 customers charged their cars at this station located in a so-called charging desert, in only one day. 
• Fastned selects large locations on high-traffic roads to build big stations with expansion potential so we can welcome more EV drivers as demand for fast charging grows. The Kreuz Hilden station in Germany is the perfect example: this quarter, the station was expanded with new 400 kW chargers. 22 electric vehicles can now charge at this station simultaneously, making it the largest station in the Fastned network.
• The average utilisation rate at our stations grew from 10.8% in Q3 2022 to 11.4% during Q3 2023,  ensuring we have enough capacity to welcome the growing number of EV drivers. Without capacity expansion over the last 12 months, like-for-like utilisation would have grown to 14.3% in Q3 2023.

We opened new stations and secured new locations in new and existing markets 

• In Q3 2023, the company added 8 new stations to its network. Fastned opened 4 stations in the Netherlands, 2 in the UK and 2 in Switzerland. This brings the total number of stations to 280 in six countries at the end of Q3. 
• In addition to opening new stations, Fastned expanded existing stations to prepare for growing demand, adding 64 chargers to its network. Delivering up to 400 kW  per charger, with a network of more than 1,550 chargers in total, Fastned continues to be one of the preferred fast charging networks for EV drivers. 
• In Q3 2023, Fastned secured 10 high-traffic locations to build new stations, bringing the total number of acquired locations to 406.  
• In July, Fastned announced yet another tender win for three high-traffic locations in Denmark  and in September– signing a partnership with A4 Holding Group, one of the major Italian motorway operators, marking the entry of Fastned into Italy. 
• After the closing of the period, Fastned won two lots in the Deutschlandnetz tender. These lots consist of 92 so-called “search areas” for the construction of fast charging stations, with the potential to triple the number of stations in Germany over the next four years.

There will be a webcast about this Q3 2023 trading update today, 12 October, 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. 

Although not profitable for the time being, Fastned reached a mid-year financial milestone with a positive underlying EBITDA result1, demonstrating the strength of Fastned's business model. The financial performance of Fastned comes on the back of continued growth of the charging market. The number of electric vehicles is expected to grow from 3 million in 2022 to more than 44 million in 20302. 
Recently introduced European regulations supporting the transition to electric driving, such as AFIR, are likely to increase the number of tenders for fast charging infrastructure on European motorways. Being one of the most experienced players in the European industry, offering one of the best charging concepts, Fastned is well-positioned to continue its high win rate for such tenders. 

In light of this exponential European market growth, Fastned announced earlier it will expand its network into Denmark and Italy, its seventh and eighth markets in Europe. Fastned's award-winning charging concept supports the electric transition. During the first half of the year, more than 1.7 million times an electric vehicle was charged on Fastned’s network, enabling more than 200 million kilometres to be driven without burning fossil fuel. Fastned aims to build a network of one thousand stations by 2030. By leading the transition to e-mobility in Europe, Fastned contributes to a more sustainable future. 

In June 2023, Fastned raised €21.9 million with the issue of new bonds. In addition, investors extended €2.4 million worth of investments from earlier issues, bringing the total issued amount in this round to over €24 million. More information on Fastned’s results can be found in the 2023 Interim Report. 

Fastned is now launching a new bond round in the Netherlands and for the first time in Belgium. More information about Fastned and the bonds, including risks, costs and fiscal treatment, can be found in the prospectus, available here. 
 

¹The financial information has not been audited by an external accountant

²Source Charge Up Europe

Fastned, the European fast charging company, signed a contract with A4 Holding Group, the Italian business unit of the Abertis Group that operates one of Europe's busiest motorways,  the A4 Brescia-Padova in Northern Italy, to build Fastned’s first fast charging station in the country. The contract marks Fastned’s expansion into Italy, an important milestone for the company and its goal to build 1,000 charging stations across Europe.

Future Fastned Station in Italy at Brescia Est

The partnership between A4 Holding Group and Fastned is the start of Fastned’s expansion efforts into Italy. The company is bringing its innovative drive-through stations with solar canopies to the country, and will build the country's first fast charging station of this kind in the northern region. Positioned strategically at the highway exit Brescia Est, this station will cater to electric vehicle (EV) drivers in Italy as well as those travelling from Switzerland to southern Italy.

Italy is an important new market for Fastned. In terms of kilometres of motorway, Italy ranks among the largest countries in Europe, with a car density per capita exceeding the European average. When it comes to electric mobility, the country has a large need for future-oriented, reliable fast-charging stations capable of charging hundreds of vehicles a day. To cater for the continuously growing demand, Fastned’s new station will open with 8 chargers each delivering up to 400 kW, with the possibility of doubling its size to a total of 16 chargers.
 

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

Fastned announces today the win of a tender by the Danish road authorities Vejdirektoratet to build three fast charging stations in Denmark. This award marks the start of Fastned’s activities in the country and in Scandinavia. All three stations will be located on high-traffic roads, two will be opened by the end of 2023 and one in the summer of 2024. The addition of Denmark into Fastned’s network will contribute to the company’s target of 1,000 locations by 2030 in Europe. 

Denmark has set itself the ambitious goal of a million electric vehicles on its roads by 2030, and the country saw the number of drivers going electric grow fivefold from 2020 to June 2023. A comprehensive fast charging network is vital to this transition, so Denmark is also investing in a fast charging infrastructure for long-distance travel along the Danish national road network. In June 2023, the Danish road authorities published a tender for nine new locations of fast charging stations. Fastned applied for the three locations that fit best the company’s high-traffic location strategy. This week Fastned has been awarded all three contracts it applied for.

The first Fastned stations in Denmark will be in strategic spots and offer a total of 24 chargers of 400 kW, the fastest in the industry. With 4 chargers, Helsingør will allow drivers to charge before they head to Sweden, on the Helsingør-Helsingborg ferry, an important European travel route in the Nordics. Grevinge station will also have 4 chargers, catering for drivers between Copenhagen and Aarhus. The third and biggest location, Langeskov Syd, will have a total of 16 chargers, and will be part of a major charging hub along the E20, where the famous and long Great Belt and the New Little Belt bridges connect continental Europe to Sjælland island, where Copenhagen is located. Grevinge and Helsingør will be built by the end of 2023, while Langeskov Syd will be in operation by the end of August 2024. 

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.

‘We are proud of the trust investors have put in Fastned again. Despite a challenging capital market environment, with continued inflation and increasing interest rates, Fastned once again proved its resilience in the retail bond market with a solid and growing investor base. Together, we not only build fast charging stations on high traffic locations, but we also grow a community around electric driving. We believe that the electric revolution will really take off when charging becomes hassle free and that is why we roll out our network across Europe: to offer freedom to electric drivers. Every day we get closer to our goal of one thousand stations by 2030, where we sell energy from renewable sources like sun and wind, actively helping to curb the climate crisis.’ Victor van Dijk, CFO of Fastned.

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.

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 announced on 11 January 2023 that Michiel Langezaal and Bart Lubbers would in the course of 2023 each gradually sell up to approximately 2% of the outstanding depositary receipts of ordinary shares in the capital of Fastned (DR’s) at that moment. 

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

600.000 DR’s were sold to several institutional investors in a private sale and 99,878 DR’s were sold through a pre-arranged trading plan that started after the announcement in January 2023. This trading plan has now been finalised. 

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. Michiel Langezaal and Bart Lubbers have committed to a 12 months lock-up on the remaining DR’s following the transaction.

Breesaap B.V., the investment company of the Lubbers family, did not participate in the private sale in order to maintain a substantial interest in Fastned in light of Dutch tax regulation. Breesaap also expressed their long term commitment by agreeing to the same lock-up of 12 months.

After completion of the sale, the parties will hold the following interests in Fastned:  

• Wilhelmina-Dok B.V. (the personal holding company of Bart Lubbers): 37.42% of the DR’s (39.16% per 11 January 2023)
• Carraig Aonair B.V. (the personal holding company of Michiel Langezaal): 21.76% of the DR’s (23.50% per 11 January 2023)
• Breesaap B.V. (the investment company of the Lubbers family): 5.94% of the DR’s (6.11% per 11 January 2023).

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.

Recently introduced European regulations supporting the transition to electric driving is likely to increase the number of tenders for fast charging infrastructure on European motorways. Being one of the most experienced players in the European industry, offering one of the best charging concepts, Fastned is well-positioned to continue its high win rate for such tenders. 

Fastned’s great charging concept and high-traffic locations have been key to its success for the last eleven years. Since 2012, Fastned has built a network of more than 250 fast charging stations for electric vehicles in six European countries, increasing the speed of its network expansion year by year. 

Fastned aims to build a network of 1,000 fast charging stations in Europe by 2030.

Holders of Fastned bonds bought before January 2020 can exchange them for new bonds. Subscription to the bond issue starts today at 12:00 p.m. CET via the Fastned website and ends at 12:00 p.m. CET on 12 June 2023. More information can be found in the prospectus, which is available here. 

For more information about our achievements in 2022, find Fastned’s 2022 Annual Report here. Looking ahead at 2023, Fastned expects to be FY2023 Underlying company EBITDA positive. For more information on our profitability expectation for 2023, read our guidance in our 1Q23 Trading Update. 

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.

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.

Amsterdam, 15 March 2023. Fastned, the European fast charging company, has won a concession for two high traffic locations in a tender organised by the Agentschap voor Wegen en Verkeer (AWV) - the Flemish road authority. This tender outcome will allow Fastned to develop and operate two large fast charging stations with 12 charging points each on both sides of the E17 highway near the city of Ghent. The two Gentbrugge locations will be the first ‘highway service areas of the future’, serving electric cars only and providing additional services such as toilets, sandwiches and coffee. The stations will have the capacity to charge up to a thousand electric vehicles per day, delivering each car up to 300km of range in just 15 minutes.

Fastned has been a front runner in accelerating the shift to electric mobility in over a decade. The two new large drive-through stations will have 400kW chargers, providing energy only from sun and wind. This station design welcomes all EVs, including longer vehicles such as trailers and trucks. They will be equipped with the iconic yellow canopies covered with photovoltaic panels, that protect drivers from the rain and are designed for safe and easy charging.

The AWV sets an objective to encourage electric mobility by making space available along its highway network to build and operate electric charging infrastructure. Fastned will continue to respond to tenders with the goal to provide EV drivers in Belgium and in Europe with a high-quality and comprehensive fast charging network along key corridors.

Fastned has an unparalleled track record of winning tenders for high traffic locations, especially on major motorways across Europe. As its network expands, Fastned offers electric drivers more opportunities to charge and quickly continue their journey. 

In Belgium, Fastned currently has 19 operational fast charging stations and 24 locations under development. Construction of the Gentbrugge stations is planned to begin in 2024.      

“This newly won tender shows the confidence the Flemish road authority has in our fast charging concept and is a tribute to the expertise we have developed over the past decade in the European market. We are proud that we are given the opportunity to also provide coffee and facilities to our customers at these locations!”, said Tuur De Coninck, Country Manager Belgium at Fastned. 

Michiel Langezaal, CEO of Fastned, shares: “We are committed to providing Belgian and European electric drivers with a reliable, high-quality charging network that's accessible to all, giving freedom to drive anywhere. Winning one of the most important tenders in Europe so far this year, shows how Fastned is time and again able to win important locations to further expand its network. Each new tender we win brings us closer to our goal of 1,000 large stations on our network by 2030."

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.

Click here to dowload the HR image of the Fastned fast charging station in Kreuz Hilden.