'Year full of challenges'

Fastned adjusts expectations for 2025 after slow EV growth

Fastned noemt 2024 een jaar "vol uitdagingen" door een tegenvallende groei van het aantal elektrische auto's.

Fastned has downgraded its forecasts for 2025 due to smaller growth in the number of electric vehicles and longer lead times for building charging stations. The company is downgrading its revenue target of 400 thousand euros per charging station.

The company now expects 400 to 425 operational stations by the end of 2025, with an average turnover of more than 325 thousand euros per station. This is lower than the previous target of 500 operational stations and 400 thousand euros turnover per station.

Negative sentiment

Fastned calls 2024 a year “full of challenges” due to “negative sentiment” in the media around electric driving and disappointing growth in the number of electric cars.

In the fourth quarter of 2024, Fastned generated €26.6 million in revenue from charging, up 39 per cent from the previous year. Gross profit rose 45 per cent to 20.6 million euros. Annual revenue exceeded 100 million euros for the first time, reaching 106.1 million euros. The number of operational stations grew to 346, and a total of 569 sites were acquired in nine countries.

Last quarter, Fastned still saw revenue rise by 44 per cent.

Growth

Fastned opened unmanned shops in Belgium and Germany in the fourth quarter and signed an agreement with Places for London to build 25 fast-charging stations in the city by 2030. It also raised €21.5 million through a bond issue.

Fastned continues to invest in expansion and expects to benefit from the growing electric vehicle market in the long term. Its target for 2030 is 1,000 operational charging stations.

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This article was automatically translated from the Dutch language original to English.

Author: Sander van Vliet

Source: MobilityEnergy.com

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