Fast charging company starts issue of bonds to drive further growth
Amsterdam, 11th of October 2018. Fastned continued its strong growth path during Q3 2018. Revenue tripled compared to the same quarter last year. In September, the network as a whole surpassed break even on an operational level. All operational costs associated with its stations were covered by revenues. To finance further growth Fastned started the issue of a new bonds series today. As in previous rounds the bonds have a maturity of 5 years and pay out 6% interest per annum. Fastned plans to use the proceeds to drive its revenue growth and expand our network of fast charging stations, contributing to its profitability.
- Revenue: € 352,609 (+199% vs. Q3 2017)
- Volume: 703,491 (kWh) (+187% vs. Q3 2017)
- Active customers: 12,677 (+165% vs. Q3 2017)
- Monthly charge sessions surpassed 21,000 in September.
- Fastned opened three new stations (Wellerzand, Lemsterhop, Paderborn-Mönkeloh), bringing the total number of operational stations to 77.
- Construction of 15 stations in Germany is in full swing.
- Fastned continued the installation of next generation fast chargers, allowing electric vehicles to charge up to 175 kW and even 350 kW; up to 100 times faster than at home.
- On October 8th, Fastned signed an agreement with REWE Region Mitte to build fast charging stations at their supermarkets. A start will be made in 2019 with a pilot at four of their top supermarket locations.
- As of today (October 11th) Fastned is issuing a new round of retail bonds. The bonds have a maturity of 5 years and pay out 6% interest per annum. The bonds offer everyone an opportunity to participate and invest in the energy transition. Participation is possible from €1,000. Investors can read the prospectus and subscribe via the Fastned website: fastnedcharging.com/bonds
Download the Fastned Q3 results here.
Please note that the numbers above are unaudited. Audited annual figures will be published in March 2019.