Fastned BV reported a robust first quarter for 2026, with revenues of €39.2 million, an increase of 40% compared with the same quarter a year earlier. The company attributed the revenue rise to both higher charging volumes and a modest increase in the average selling price.
Volume grew 32% year over year to 55.6 gigawatt-hours, while the average selling price climbed 6% to €0.71 per kilowatt-hour. Management noted that the expansion in charging volume outpaced an estimated 27% rise in battery electric vehicle registrations during the quarter.
During the quarter Fastned introduced eight new public charging locations across four markets - Denmark, Italy, France and the United Kingdom - lifting its total station count to 414. The company also completed expansion or upgrade projects at four existing stations. Those network additions supported a 19% increase in annualized revenue per station, which rose to €387,000.
Profitability improved sharply. Gross profit increased 63% to €32.1 million, and margin per kilowatt-hour reached €0.58, a 23% uptick from the prior-year period.
Looking ahead, Fastned reaffirmed its fiscal 2026 targets. The company expects to open between 70 and 100 new stations, aiming for a year-end total of 476 to 506 stations. It foresees average revenue per station in the range of €350,000 to €400,000, compared with €335,000 reported for fiscal 2025. Fastned also expects to maintain an EBITDA margin between 35% and 40% for the year.
Operational context and drivers
- Revenue growth in Q1 stemmed from a combination of higher charging volumes and a higher realized price per kilowatt-hour.
- Network expansion and targeted upgrades contributed to higher revenue per station on an annualized basis.
- Improved gross profit and per-kilowatt margins indicate stronger unit economics in the quarter.
Outlook and guidance
Fastned reaffirmed its 2026 rollout plan and financial targets, including a substantial increase in station count and guidance for average revenue per station and EBITDA margin. The company presented these ranges as its operating plan for the fiscal year.