First Fastned stations break-even
Operating costs at the first two Fastned stations were covered in March
Amsterdam, 6 april 2017. Fastned, that is building a European network of fast charging stations, saw its first two stations break-even in March. This means that the operating expenses, such as the purchase of power, grid connection fees, licence costs, land lease, cleaning and maintenance costs were covered by the revenues generated at those stations. Fastned expects that more stations will pass the break-even point in the coming months.
The operating costs per station are limited. All 58 Fastned stations are unmanned and centrally managed from the head office. The next financial goal is to also cover these central operating expenses. Since these costs remain relatively stable when new stations are added to the network, the costs per station will decrease when new stations are added to the network. The final step to profitability of the company is also to cover depreciation and finance costs.
The Fastned stations are prepared for strong growth of the number of electric cars. The capacity can easily be expanded by adding more and faster chargers to each station. The low operating costs and big capacity result in significant earning potential of each station.
Bart Lubbers, co-founder Fastned: “After five years of investing it’s great to see the first stations break-even. This is a real milestone. It is a compliment to the whole Fastned team and the 1,600 people that have invested in Fastned at an early stage. Revenues are growing at all stations, supported by the mega-trend of increasing number of electric cars.”
Next week Fastned will publish the results over the first quarter of 2017.
Note for the editor (not for publication):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."