Turnover is one, profit is two. The first is fine with Fastned, but what about the second?
In principle, it is of course very logical, since more and more electric cars appear on Dutch roads, more and more have to be charged. Charging costs money, which means that the turnover of providers of charging options is increasing. Like Fastned.
And indeed, if we look at that company’s figures from last year, you can see that there has been a huge jump in turnover. It has almost tripled compared to a year earlier. In total, the charging people credited almost 36 million euros to Fastned’s account.
Turnover Fastned grows, but does the profit do the same?
Just because we can, let’s dig up some numbers. Fastned had 218,000 customers in 2022. In total, they charged their car 2.3 million times. They did this with 1237 fast chargers that the company has. Which, by the way, is also a big growth.
With that, Fastned turned over 36 million euros. Enough for a big profit, you would think, especially with the increased prices they charge. You would think indeed, because at the bottom the line the company is still making a huge loss. More than 22 million was written in the red in the books…
Why is that company not making a profit?
How is that possible, you might ask… Do they sometimes buy the electricity very expensively and sell it too cheaply? Or do they pay too much rent for the places where the charging stations are built? Or does the director earn too much?
Nope, none of that. Fastned is still making such a loss because huge investments are being made in new charging stations, that’s all. So you can actually see the loss as an investment. Because once all those stations are there, the money creation can begin.
Until then, it’s just a bit of fun at Fastned, but that won’t be long now…
This article Fastned makes a huge turnover, but what about the profit? appeared first on Ruetir.
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