Fastned - Q1 slightly below estimates, guidance lowered
Q1 revenue at EUR 18.9m (up 42.1%) but below our estimateOperational stations at 307 (DPe 310) & secured locations at 483Guidance lowered for 2024 but increased for 2025Overall results were below estimates. The main issue remains the lack of visibility on the backlog as proven by the change in guidance and financing of the backlog. These are crucial for the investment case of Fastned and hence explain our neutral stance on the stock for the time being. Hold reiterated.Fastned BV is a company based in the Netherlands that owns and develops charging stations. The Company offers charging solutions to electric transportation through solar and wind energy. It serves customers in Europe.
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