Fastned continues rapid growth in fourth quarter 2016
Amsterdam, 12th of January 2017.
In a Year on Year (YoY) comparison with Q4 of 2015, Fastned’s volume, revenue and number of customers showed strong growth in Q4 of 2016:
- Volume: 168,381 kWh (+209%)
- Revenue: € 81,382 (+174%)
- Customers: 3,177 (+92%)
- Fastned completed six new stations in The Netherlands; five along the highway and one urban station in the Hague
- In November, Fastned introduced a very well received Routeplanner tool which allows our customers to plan a journey using Fastned stations
- Early December, Fastned raised € 2.5 million in just 4 days through an issue of bonds.
- Late December, Fastned lowered the prices of “per kWh” charging from 79ct to 59ct, and the monthly subscription fee for “Standard” from € 12 to € 9.99; Fastned raised the monthly subscription fee for “Power” from € 24 to € 29.99 (all prices including VAT).
End of 2016, almost 13,000 full electric vehicles are on the road in the Netherlands, a growth of around 38% compared to the end of 2015.
In Q4 2016, Fastned continued to grow rapidly, outpacing the growth of the electric vehicle market. The number of active customers (defined as individual customer that charged at least once in this quarter) grew to 3,177. Revenue grew with 174% to € 81,382 while volume grew with 209% to 168,381 kWh delivered. This growth in revenue and volume was achieved by adding new stations as well as a higher utilisation per station compared to Q4 2015.
Fastned expects that in 2017 improved tax incentives and the introduction of EVs with more range will further improve market conditions in the months ahead. As of January 1, 2017, the tax regime for full electric vehicles in the Netherlands was improved even more relative to cars with combustion engines (including PHEVs). Also, in the first half year we expect to see the start of deliveries of the new Renault ZOE, VW Golf and Opel Ampera-E.
Please note that the numbers above are unaudited. Audited annual figures will be published in March.
Note for the editor (not for publication):
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Fastned is building a European network of fast-charging stations where all electric cars can charge. The stations are located at high traffic locations along the highway and in cities, where electric cars can charge in 20 minutes. This will provide freedom for electric cars to drive across Europe. As of today, Fastned has 63 stations operational in The Netherlands and is working on expanding its fast charging network to the rest of Europe. Fastned is preparing the construction of fast charging stations in Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.
Fastned is rolling out it’s network of fast charging stations in response to the rapidly increasing numbers of EV’s in Europe. Car manufacturers such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors en Renault and other car manufacturers are investing billions of Euro’s in the development of, and production capacity for EV’s. More and more EV’s are hitting our roads which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: “We are the Shell of the future, only our energy comes from the sun and the wind."