Fastned's revenues jump on accelerated station openings, shares rise

Fastned BV

11/01/2022 08:46

** Shares in Fastned  FASTN.AS  rise around 4% after the
Dutch charging stations maker reported a 154% jump in its Q4
charging revenues
    ** The group's revenue related to charging amounted to EUR
4.9 million ($5.56 million) over the period  urn:newsml:reuters.com:*:nFWN2TQ1R0
    ** "The result was realised on the back of accelerated
station openings and strong BEV (Battery Electric Vehicle)
market momentum," the company said
    ** "Charging revenue and active client growth were decent
but a bit below our expectations,” ING says in a note
    ** The brokerage adds the small miss in operational numbers
is offset by the slightly better number of stations in the
pipeline
    ** In Q4, Fastned added 24 stations to its network, bringing
the total to 188 charging stations in six countries, it added
    ** The stock is up by around 7% year-to-date

($1 = 0.8818 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))