Fastned Profits Surge Amid Rising Fuel Prices

Fastned BV, the Dutch electric vehicle (EV) charging network operator, has reported a 40% year-over-year revenue increase to €39.2 million for the first quarter of 2026. The growth was driven by a combination of increased charging volumes and a rise in average selling prices.

According to a trading update released on Thursday, April 16, 2026, the company’s charging volume grew by 32% to 55.6 gigawatt-hours (GWh) during the first three months of the year. This volume growth was complemented by a 6% increase in the average selling price per kilowatt-hour (kWh), which reached €0.71.

Profitability and Market Share

Profitability metrics for the first quarter of 2026 showed significant gains. Gross profit rose 63% to €32.1 million, while the gross margin per kWh increased by 23% to €0.58. The annualized revenue per station grew by 19% to €387,000.

The company indicated that its volume growth is outpacing the broader electric vehicle market. Fastned’s 32% increase in charging volume exceeded the estimated 27% increase in new battery electric vehicle (BEV) registrations across its operational markets during the same period, suggesting the company is capturing a larger share of the public charging market.

Annual Performance Trends

The first-quarter results follow a period of rapid expansion and revenue growth. On March 19, 2026, Fastned reported that annual charging revenue had exceeded €100 million for the first time, reaching €122.4 million. This represented a 47% increase compared to the €83.4 million reported for 2024.

In its Annual Report 2024, published on March 27, 2025, the company reported €86 million in revenue, which was a 43% year-on-year increase. That period also saw a 35% increase in charging sessions and a 41% rise in energy sold, with the company achieving a positive EBITDA for the second consecutive year.

Network Expansion and Guidance

Fastned continued to expand its physical footprint in the first quarter of 2026 by adding eight new stations. The company has reiterated its full-year guidance, stating its intention to open between 70 and 100 new locations throughout the year.

Regarding future financial expectations, Fastned expects stable EBITDA margins ranging between 35% and 40%.

Key Q1 2026 Metrics

• Total Revenue: €39.2 million (+40% year-over-year)
• Charging Volume: 55.6 GWh (+32% year-over-year)
• Average Selling Price/kWh: €0.71 (+6% year-over-year)
• Gross Profit: €32.1 million (+63% year-over-year)
• Gross Margin/kWh: €0.58 (+23% year-over-year)
• Annualized Revenue/Station: €387,000 (+19% year-over-year)