Fastned grows revenue but reports significantly wider loss

Fastned had already published key figures for the fourth quarter of 2025 and the full year 2025 in January. For example, it was already known that the Dutch company had increased its revenue per site by 25 per cent to 335,000 euros in 2025. Additionally, preliminary charging revenues for each quarter were disclosed, totalling approximately 123.9 million euros.

However, with the publication of the final figures, this value has proven to be slightly lower: Fastned reports charging revenue of 122.4 million euros. Of this, 72.8 million euros were generated in its home market, the Netherlands, 16 million euros in Belgium, 12.7 million euros in France, 10 million euros in Germany, 8 million euros in the UK, and the remaining 2.75 million euros in other European countries.

Charging revenue of 122.4 million euros was 47 per cent higher than the 83.4 million euros recorded the previous year. At that time, Fastned had also reported total revenue of 86.3 million euros.

According to the new annual report, this figure was later corrected to 83.8 million euros. For 2025, the total revenue figure has now risen even more sharply, by 66 per cent, to 139.2 million euros. In addition to the charging revenue of 122.4 million euros, this includes another 16.7 million euros, with the remaining difference explained by rounding.

However, Fastned does not highlight its total revenue in its press release, mentioning it only in the annual report. This is likely due to the explanation for the additional revenue: Fastned states that it stems ‘from service concession arrangements with the German Highway authorities.’

Specifically, this refers to the sites Fastned is building for the Deutschlandnetz—where the federal government covers a large portion of the construction costs to ensure a basic supply of fast-charging infrastructure. This revenue is thus a pass-through item that flows directly into the construction costs of the Deutschlandnetz charging hubs. Fastned won two regional lots with a total of 92 sites in the tender, as well as the contract for charging hubs at 34 unmanaged motorway service areas.

For most of its other new charging hubs—whose number grew from 346 to 406 sites across nine European countries—Fastned must invest its own funds. According to an investor presentation from January, the average investment cost per new site recently amounted to 892,000 euros. This covers expenses for the charging stations themselves, transformer stations, grid connections, and the distinctive yellow canopies.

Accordingly, network expansion costs rose to 33.9 million euros (+48 per cent). However, these costs do not include construction costs for the charging hubs themselves but refer to expenses associated with expanding the Fastned network.

It does, however, cover salaries, overheads related to network development, site acquisition, site planning, construction planning, and IT software development. According to the cash flow statement, an additional 86.3 million euros were invested, primarily in new charging hubs.

Although Fastned reports an operating EBITDA of 43.6 million euros (+34 per cent), this primarily reflects the company’s ability to sell purchased electricity at a significant markup to EV drivers. This figure does not account for the aforementioned expansion costs, construction costs for the charging hubs, or depreciation and interest on loans. As a result, Fastned ended 2025 with a net loss of 30.2 million euros—nearly 12 per cent higher than the previous year. However, the rate of loss growth has slowed: between 2023 and 2024, the loss increased from 18.9 million euros to 27 million euros.

fastnedcharging.com, fastnedcharging.com (annual report; PDF)