Dutch fast-charging provider Fastned has nearly tripled its charging turnover by 191% to €36,0 million, providing 2,3 million load sessions at 244 charging stations (+30%). Nevertheless, the company is still writing in red with a €22,2 million loss in 2022, compared to €24,6 million in 2021. The EBITDA went up by 244% to 8,1 million.

But short time profit was never the goal for the Fastned founders, who believe in continuous investments in new stations to expand the network. Besides the Netherlands, Fastned is active in Belgium, France, Switzerland, and the UK.

Huge strides to grow the network

“In 2022, we continued to make huge strides to grow our network and team for the accelerating transition to electric mobility,” says CEO Michiel Langezaal addressing his investor relations. “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.”

“Our goal of building 1 000 stations in high-traffic locations continues to be our focus to deliver on our mission to provide electric freedom to all EV drivers.” In 2022, Fastned raised 112 million euros for further expansion.

The number of EVs increased by 62% in Belgium

The EV charging market is still in its infancy, but Fastned sees it accelerating throughout Europe. In Belgium, the number of EVs on the road – driven merely by a fast-growing fleet of electric company cars – grew by 62%.

In France, this was 42%, and in the Netherlands, with the longest EV tradition, by 35%. But also Switzerland (+47%) and the UK (+69%) saw significant increases. As a result, Fastned concludes the average EV penetration rate in the markets it services is 2,9% of the total car fleet, 0,9% higher than by the end of 2021. The number of active EV clients topped off at more than 218 000, a growth of 96%

Belgium’s largest fast-charging plaza

Two weeks ago, Fastned announced it had won a tender to build two large fast-charging plazas with 12 chargers each along the E17 highway in Gentbrugge (Belgium). As a first, Fastned will be able to equip the EV-charging-only resting area with coffee and sandwich shops, restrooms, and a child playground.

The E17 is a crucial highway connecting the Netherlands with France, straight across Belgium, with the two future plazas located on both sides of the highway in the Ghent area. They will feature 400 kW fast chargers, suitable for passengers, EVs, and electric trucks at the same time. The building starts in 2024.