Fastned reported strong growth in charging revenue during the third quarter of 2026 as it expanded its European fast-charging network. The company commissioned 17 new stations, secured agreements for 26 additional locations and had 65 stations under construction at the end of the reporting period.
The Dutch charging provider recorded €51.3 million in charging revenue for the quarter. This total included €5.1 million in Dutch e-credits attributable to the first quarter but transferred during the third quarter because of a temporary closure of the government portal.
Excluding this timing effect, charging revenue amounted to €46.3 million, up 47% year on year. Gross profit increased 44% to €37 million, a figure unaffected by the e-credit timing adjustment.
Charging Volumes and Station Revenue Increase
Fastned also reported higher utilisation across its existing network. Organic charging volume increased by 27% year on year, compared with 29% growth in the battery-electric vehicle fleet across its markets, according to the company.
The annualised average energy volume per station reached 596 MWh. Revenue per location also benefited from holiday traffic, with annualised revenue per station averaging €395,000 since the beginning of the year.
That figure is near the upper end of Fastned’s annual revenue guidance of €350,000 to €400,000 per station.
65 Stations Under Construction
Fastned is increasing the pace of network development. The 17 stations commissioned during the third quarter and agreements for 26 additional high-traffic locations add to a construction pipeline that the company says is almost twice as large as a year earlier.
Fastned maintained its full-year guidance, targeting the opening of 70 to 100 new stations by the end of 2026. This would bring the network to between 476 and 506 locations.
The company also reaffirmed its target for an operating EBITDA margin of approximately 45%.
Germany remains a key expansion market, with Fastned approaching 70 locations. The company has built 17 stations under the country’s Deutschlandnetz programme, which supports the development of fast-charging infrastructure along major transport routes and in underserved areas.
In Belgium, Fastned now operates 60 stations. One recent addition is the Libin Galaxia site in Wallonia, equipped with 12 charging points offering charging power of up to 400 kW.
In France, the company opened its first company-operated kiosk at Thionville-Yutz. The concept is intended to test additional facilities at locations where amenities have previously been limited.
Partnership Expands Customer Reach
Fastned is also seeking to increase network utilisation through partnerships. In September, the company launched a collaboration with Dutch mobility association ANWB, making its charging network visible to more than 600,000 users of the ANWB Charge Card.
Subscribers receive a 10% discount at Fastned stations across Europe.
The partnership gives Fastned access to an established group of mobility-service users while providing eligible customers with a lower charging price. Its longer-term effect on charging volumes has yet to be established.
Network Expansion Requires Significant Capital
Despite operational growth, Fastned’s expansion remains capital-intensive. The company’s total liabilities reached €514.6 million at the end of the first half of 2026, compared with €409.8 million at the end of 2025.
Fastned invested €44.7 million in network expansion during the first half and reported a loss of €13 million over the same period.
Debt financing remains an important source of capital. The company raised €36.5 million from private investors through its second retail bond issue of 2026. By the end of June, it had collected approximately €337 million through retail bonds, which carry 6% interest and are repayable after five years.
Fastned’s third retail bond issue of 2026 was launched in the third quarter and is scheduled to run until 30 October. The proceeds are intended to support further network development.
The investment required for each new station also illustrates the scale of the company’s spending. Earlier Fastned figures put the average cost at approximately €892,000 per location, including charging equipment, grid connections, transformer technology and the company’s solar canopies.
Utilisation and Financing Remain Key Considerations
Fastned’s latest results show continued growth in charging revenue, energy volumes and network capacity. Its expansion pipeline also provides a basis for further increases in the number of operational stations.
However, the company must continue funding construction and supporting infrastructure while increasing the utilisation of its existing network. The balance between new station openings, revenue growth and financing costs will remain important in assessing the sustainability of its expansion strategy.
