Fastned BV reported first-quarter revenue of €39.2 million, a 40% increase compared with the same period last year, according to its trading update published on Thursday. The Dutch electric vehicle charging operator attributed the top-line expansion to simultaneous gains in charging volume and realized prices.
Charging volume rose 32% to 55.6 gigawatt hours in the quarter, while the company recorded a 6% increase in average selling price, which reached €0.71 per kilowatt hour. Fastned highlighted that its volume growth outpaced the 27% rise in battery electric vehicle registrations over the same quarter.
Operationally, Fastned added eight new charging stations across four European markets - Denmark, Italy, France and the United Kingdom - bringing its nationwide network to 414 stations at quarter end. The company also completed expansion or upgrade projects at four existing locations. Those moves contributed to a 19% increase in annualized revenue per station, which rose to €387,000.
Profitability measures improved markedly in the quarter. Gross profit climbed 63% to €32.1 million, and the gross margin measured on a per-kilowatt hour basis increased 23% to €0.58. These gains reflect both higher volumes and improved per-unit economics.
For the full year, Fastned reaffirmed its previously stated rollout guidance. The company expects to open between 70 and 100 new stations, targeting a network of 476 to 506 stations by year end. Management reiterated expectations for average revenue per station in a range of €350,000 to €400,000, against a prior fiscal year average of €335,000.
On margin guidance, Fastned projects its EBITDA margin to stay relatively stable in the 35% to 40% band. The company did not change its published full-year outlook and maintained the same ranges for station openings, revenue per station and EBITDA margin.
Contextual note: The results combine stronger usage of existing infrastructure with incremental capacity from new and upgraded sites. The company presented growth in both top-line and gross profitability measures while keeping full-year operational targets intact.