Fastned Q3 revenue jumps as network expands to Spain

Investing.com -- European fast-charging company Fastned BV (AS:FASTN) on Thursday reported a 44% YoY increase in charging revenue to €31.5 million for the third quarter of 2025, slightly below analyst consensus of €31.9 million.

The growth was driven by a 32% increase in energy sales to 46.8 GWh across 1.7 million charging sessions, all representing quarterly records for the company.

Gross profit rose 40% YoY to €25.4 million, exceeding analyst expectations of €24.5 million. However, the relative gross margin declined 200 basis points to 80.6% due to higher wholesale electricity prices and increased energy taxes in the Netherlands, partially offset by price increases of approximately 10%.

Fastned continued its aggressive expansion, opening 17 new stations during Q3 in France, Belgium, Germany, the Netherlands, and Spain. This brings the company’s total network to 380 stations across nine countries, with Spain becoming the latest market to join Fastned’s European footprint.

The company remains on track to exceed 400 stations by year-end, in line with its projection.

"Our Q3 results show how our concept continues to outperform the market - and the only way is up," said Michiel Langezaal, co-founder and CEO of Fastned. "Fastned is now a pan-European company, scaling fast and playing a vital role in Europe’s transition, both on and off the motorway."

The quarter also saw Fastned unveil its vision for the future of highway service areas with the opening of its flagship Gentbrugge location in Belgium, featuring 16 charging points alongside amenities like restaurants, shops, and play areas.

The company’s growth comes amid strong European EV adoption, with BEV registrations up 26% year-to-date through September, achieving a record 19.1% market penetration. Fastned is currently conducting its third bond campaign of 2025, scheduled to close at the end of October.