Fastned (FAST) H2 2025 earnings summary

Executive summary

• Achieved record revenue of €139.2 million in 2025, up 66% year-over-year, with charging revenue at €122.4 million (+47%).

• Network expanded to 406 operational stations across nine countries, with 60 new stations opened in 2025.

• Over €110 million raised through three retail bond issues, supporting rapid network expansion.

• EBITDA more than doubled to €14.8 million, driven by operational improvements and construction services.

• Net loss widened to €30.2 million, reflecting increased investment in expansion and higher operating costs.

Financial highlights

• Charging revenue: €122.4 million (+47% vs. 2024); total revenue: €139.2 million (+66%).

• Gross profit from charging: €96.2 million (+41%); gross margin: 79%.

• Operational EBITDA: €43.7 million (+34%); EBITDA margin: 36%.

• Net loss: €30.2 million (vs. €26.6 million in 2024); EPS: €(1.55).

• Cash position at year-end: €69.9 million.

Outlook and guidance

• Target to operate 1,000 stations by 2030 remains unchanged; current pace below required rate, but build pace accelerated in H2 2025.

• Continued focus on expanding in high-traffic corridors and urban hubs, with plans to enter new countries as justified.

• Ongoing advocacy for improved grid capacity and streamlined permitting to support faster rollout.