Fastned Saw YoY Revenue Growth Of 148% During Q1 2017
The Netherlands-based electric vehicle fast-charging network firm Fastned saw year-on-year revenue growth during the first quarter of 2017 of 148%, according to an email sent to CleanTechnica. Total revenue for the quarter was €87,883.
Quarter 1 2017 also saw substantial volume growth, with volume rising to 194,834 kilowatt-hours (kWh) — representing a 160% year-on-year growth rate during the quarter.
Active customer growth was also fairly strong, according to the email, with the number of active customers rising to 3,520 — representing a roughly 62% year-on-year increase.
The email also reiterated a point that we made in an earlier article about some of the company’s fast-charging stations hitting the break-even point — as regards revenue compared against operating and maintenance costs — over the last few months.
That’s an important milestone, as it means that investors still sitting on the sidelines (with regard to electric vehicle charging infrastructure and companies) can clearly see that such businesses are ones that can prove themselves commercially viable.
The email also reveals that the company began work on 6 new electric vehicle (EV) fast-charging stations during the first quarter of 2017, and that total station number will therefore total 63 by the beginning of the summer.
Here’s a bit of interesting information that accompanied the email about the local market in the Netherlands: “Currently there are around 15,000 fully electric cars in the Netherlands; 40% more than a year ago. Almost half of this growth was achieved since January of this year, caused in part by favourable fiscal incentives. In March, the percentage of electric cars as part of the total number of new cars sold in the Netherlands grew to over 2%. Fastned expects that this percentage will continue to increase as more and more attractive electric car models with bigger ranges are introduced to the market.”
So, in other words, the company’s outlook is sunny.
Sign up for CleanTechnica's Weekly Substack for Zach and Scott's in-depth analyses and high level summaries, sign up for our daily newsletter, and follow us on Google News!
Whether you have solar power or not, please complete our latest solar power survey.
Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Sign up for our daily newsletter for 15 new cleantech stories a day. Or sign up for our weekly one on top stories of the week if daily is too frequent.
CleanTechnica uses affiliate links. See our policy here.
CleanTechnica's Comment Policy
