Fastned rises after 'strong' Q3

Fastned BV

15/10/2024 10:29

** Shares in Fastned  FASTN.AS  jump around 9% after the
electric vehicle (EV) charging station firm reported "strong"
third-quarter results and confirmed its guidance
    ** Q3 sales rose 44.1% at 21.9 million euros ($23.84
million), gross margin growth jumped 82.6% to 18.1 million euros
    ** "Strong 3Q24 results despite soft EV market," Jefferies
says in a note
    ** KBC says the gross margin acceleration should be a relief
as competition remains fierce, but Fastned's focus on high
traffic locations shows pricing power
    ** Fastned also provided details on tenders in the UK,
forecasting five initial sites by 2026 and 20 additional by
2027-29


($1 = 0.9187 euros)

 (Reporting by Mathias de Rozario)
 ((mathias.derozario@thomsonreuters.com))