Fastned gains thanks to BEV momentum, accelerating expansion
10/08/2021 10:03
** Shares in Fastned FASTN.AS rise nearly 3% after the
Dutch charging stations maker reported higher core profit and
revenue for the first six months of the year on the back of
strong EV sales
** The group reports an increase of 129% in operational
EBITDA to 0.7 mln euros on a 63% rise in revenue YoY
** The impact of COVID-19 restrictions on traffic were
countered by battery electric vehicle momentum (BEV) and revenue
growth driven by accelerated station openings, according to ING
** "We expect the coming period to provide ample
opportunities to act on our strategy of acquiring long-term
locations on high traffic sites," the group says
** The brokerage adds that Fastned should be able to secure
more locations in H2, especially in France and Germany
** Including session's rise, the stock has gained about 27%
this year
(Reporting by Olivier Cherfan)
((olivier.cherfan@thomsonreuters.com))