Fastned, a European fast charging station operator, has reported impressive growth in its charging-related revenues for the year 2022. According to its latest financial results, the company’s revenues almost tripled to €36 million in 2022, representing a 191% increase from the previous year. However, Fastned’s net loss for the year was €22.2 million, slightly less than the previous year’s loss of €24.6 million.
Fastned attributed the net loss to its high investments in the expansion and improvement of its charging network. The company expanded its network by 59 locations to reach a total of 244 locations with 1,237 DC chargers. During the year, Fastned recorded over 2.3 million charging processes, generating €15.65 in revenue per transaction. The company also sold 51.9 GWh of green electricity, an average of 22.5 kWh per charging process.
See also: Fastned Surpasses 250 Electric Vehicle Charging Stations Across Europe
Fastned’s CEO, Michiel Langezaal, expressed his satisfaction with the company’s performance in 2022. “In 2022, we continued to make huge strides to grow our network and team for the accelerating transition to electric mobility,” he said. “Despite turbulence in the energy market leading to price increases, we more than doubled kWh sales and exceeded two million successful charging sessions.”
The company has also secured capital for further expansion. In 2022, it raised €112 million in funding, including a €75 million equity investment from Schroders Capital’s infrastructure fund. Fastned now has 376 sites in its pipeline, and it aims to operate over 1,000 charging sites by 2030.
Fastned is also focused on providing an excellent user experience at its charging stations. The company points to high user satisfaction in surveys and Google location ratings. It has also retrofitted bins and green spaces at 48 locations in 2022.
Overall, Fastned’s growth in charging-related revenues and its expansion of its charging network demonstrate its commitment to supporting the transition to electric mobility in Europe. As the demand for electric vehicles continues to increase, the company’s continued investment in its charging network will be critical in meeting the needs of electric vehicle owners.
