Netherlands-based charging network operator Fastned has announced that its first two stations reached the break-even point in March. Revenues generated at the two stations outpaced operating expenses, which include the purchase of power, grid connection fees, license costs, land leasing, cleaning and maintenance.
Fastned expects more stations to pass the break-even point in the coming months, and sees a path to profitability once central operating expenses, depreciation and finance costs are covered.
Fastned can expand the capacity of its stations by adding more and faster chargers to each station. This expandable capacity, combined with low operating costs, gives each station significant earning potential, according to the company.
“After five years of investing it’s great to see the first stations break even,” said Fastned co-founder Bart Lubbers. “It is a compliment to the whole Fastned team and the 1,600 people that have invested in Fastned at an early stage. Revenues are growing at all stations, supported by the mega-trend of increasing number of electric cars.”