On average Fastned’s customers charged over 75 kWh per charge in Q1, spending almost €41 ($44).
Fastned’s fast-charging network, after outstanding growth in 2019, reports strong numbers for the first quarter of 2020 (even despite March showing the first signs of decline due to COVID-19).
The revenues and delivered electricity more than doubled year-over-year, which noticeably outpaced the increase of electric car sales (at least in Fastned’s base market – the Netherlands).
“Fastned, the fast charging company that is building a European network of fast charging stations, had its strongest quarter to date. Revenues related to charging increased by 102% compared to the first quarter of 2019. January and February volumes (before Covid-19 impact) were up 155% compared to last year, again outpacing growth in electric vehicles on the road in the Netherlands (+126% year-on-year). Early March Covid-19 measures caused a significant reduction in road traffic, having a considerable impact on March volumes.”
2020 Q1 results (vs 2018):
- Revenues (related to charging): €1.7 million (+102%), on average at €0.54/kWh
- January and February run rate annualized revenue related to charging of € 7.9 million
- Volume: 3,159,000 kWh (+108%), on average customers used 75.8 kWh/customer
- Active customers: 41,667 (not fully comparable to the previous unique customer figures), on average spent €40.8/customer
The number of over 176,000 charging sessions per year reveals also some other average results, like:
The plan for the near future is to postpone part of planned capital expenditures, as sales volume is expected to decrease in the second quarter.
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