Fastned secured 47 new locations in this quarter, leading to a total of 138 high traffic locations secured during 2024 - more than doubling the acquisition pace of previous years. This brings Fastned to a total of 569 secured locations in nine countries so far.
20 new Fastned charging stations opened to drivers during Q4, helping us reach 50 new stations in 2024 (and one closed station). At the end of the year, Fastned had 346 charging stations operational, reaching the upper end of our guidance of 335-350.
Q4 also saw the opening of Fastned's unmanned shops at select charging stations in Belgium and Germany, a completed bond issue raising over €21m, and the announcement of a long-term joint venture with Places for London (the property company for Transport for London) with the intention to build 25 fast-charging stations throughout the city by the end of 2030 and an ambition to expand to 65 stations eventually.
Success in 2024 despite industry headwinds
2024 was a year of challenges for the EV market in Europe, with media sentiment trending negative and lower sales growth than forecast in certain markets. However, EV fleets are still growing at pace, providing opportunities for companies best placed to serve the market well.
Fastned has performed strongly in this environment - standing out as one of Europe's top three fast-charging companies, with strong sales growth and an increased rate of location acquisition.
EV penetration continues to grow and the momentum of the transition will not be reversed. The long-term outlook both for EV sales and for the EV fast-charging market remains positive, with EVs continuing to increase market share in many of our key markets.
With increases in both the number of stations and in revenue per station in Q4, Fastned continues to demonstrate that its concept - scalable high traffic locations, an aligned vertical business model, and the best customer experience on the market - provides a viable and effective model for the maturing fast-charging market across Europe.
Rapid location acquisition in 2024; guidance revision for 2025
In recent years Fastned has been accelerating the pace in which it acquires high traffic locations across both public land and private land. With 569 locations now secured (including 346 operational), Fastned is well on its way to achieving its target of 1,000 stations operational by 2030.
In 2025, Fastned aims to increase our rate of station construction further in parallel with this higher pace of acquisition, although we forecast that development timelags will be longer than previously anticipated.
Our updated 2025 guidance comes in the context of longer timelines than anticipated, alongside lower BEV uptake than initially forecasted. We are therefore setting ourselves the following targets for 2025:
- 400 to 425 stations operational by year end
- More than €325,000 revenues per station, full year average
- 35% to 40% Operational EBITDA margin, full year average
Our previous 2025 guidance figures were originally set during Charging Day, Fastned's first capital markets day, in June 2022. The overall Charging Day ambition was to go from a prominent Dutch charging company to become a leading network in Europe.
In just over two and a half years since Charging Day, Fastned has close to doubled the size of its network, grown its European presence to 9 countries, more than doubled revenues per station, and doubled its operational EBITDA margin. In terms of sales, Fastned is now a top three fast-charging company in Europe.
Q4 around the organisation
Throughout Fastned, the final quarter of the year saw significant developments:
- We welcomed Françoise Poggi as Chief Operating Officer and member of the Board of Directors, as confirmed in our EGM in early December. Françoise brings a wealth of experience to our organisation, including seven years with Tesla, and arrives to help us further optimise and streamline our operations.
- We opened our unmanned shops at select stations in Belgium and Germany, with encouraging early results. Partners interested in learning more about retail opportunities at Fastned locations can learn more here.
- Our joint venture with Places for London was officially unveiled, along with confirmation of the locations for our first five charging stations in the city. Find a detailed update on our London initiative here.
- A total of €21.5m was raised through our third bond issue of the year, which concluded in October. This means we raised a total of over €82m from bond issues during 2024, thanks to the support of loyal investors.
- Our largest station in France, Aire de Saulce, opened with 17 chargers of 300W each, ready to serve the quickly growing number of EVs among the nearly 180,000 cars passing by each day during high season. The station covers 300m² and required nearly 3 kilometers of underground cabling to operate the large number of chargers.
About Fastned
Fastned is on a mission to accelerate the transition to electric mobility. Since 2012, we've been at the forefront of European charging infrastructure development, building and operating a rapidly growing network of iconic fast charging stations. Our yellow, nature inspired stations create a welcoming environment for drivers during the 10-15 minutes it takes to charge up to 300 km of range. By offering Europe's most reliable, convenient and joyful charging experience, we aim to inspire millions to drive on solar and wind energy so that together we can curb climate change. Fastned is listed at Euronext Amsterdam (AMS: FAST) and is a certified B Corp.
© 2025 GlobeNewswire (Europe)
