Fastned (FAST) Q1 2025 TU earnings summary

Executive summary

• Achieved record Q1 2025 revenue of €28 million, up 48% year-over-year, with energy delivered rising 34% to 42.1 GWh and gross profit up 31% to €19.7 million, setting all-time highs in operational metrics.

• Expanded network to 353 stations, including the first in Italy, now operating in eight countries, and secured 20 new high-value locations for future development, with a pipeline of 587 sites.

• Raised €36.5 million in a record bond issue in Q1 2025, maintaining a robust cash position of €113.8 million and total outstanding bonds over €227 million.

• Remained largely insulated from global trade disruptions and market volatility, with supply chain exposure assessed as low.

• Continued leadership in customer satisfaction and reliability, focusing on high-traffic, long-term sites and targeting 1,000 stations by 2030.

Financial highlights

• Q1 2025 revenue increased 48% year-over-year to €28 million; gross profit rose 31% to €19.7 million.

• Energy delivered rose 34% year-over-year to 42.1 GWh; charging sessions handled grew 33% to 1.6 million.

• Revenue per station (annualised) reached €325,000; annualised revenue exceeded €100 million for the second consecutive quarter.

• Organic sales growth at existing stations was 22% year-over-year.

• Operational EBITDA margin was 31% in Q1, with guidance of 35%-40% for 2025.

Outlook and guidance

• Targeting 400–425 stations by end 2025 and 1,000 before 2030, with plans to expand into a ninth country.

• Revenue per station expected to exceed €325,000 in 2025 and €1 million by 2030.

• Operational EBITDA margin guidance remains 35%-40% for 2025, despite higher energy taxes and grid fees.

• Two more retail bond tranches planned for 2025 to support rollout.

• Market outlook positive as BEV sales in Europe increased 28% in early 2025, with BEV market share rising to 16.9%.