Fastned, operator of fast charging stations, has seen its turnover increase by 230 percent in the first six months of this year to 1,78 million euros. The net loss doubled to 5,26 million euros. The company announced this Monday.

According to Fastned, the high operational costs for the expansion of the network are the main cause of the loss. Fastned has been on the scholarship listed after government plans delayed the issue of shares. The one-off costs of 826 thousand euros for the IPO are also included in the net loss.

The charging infrastructure supplier reports that the customer base grew by 174 percent to more than 26 thousand EV drivers. The company says it finds it acceptable that shareholders' equity is now 2,32 million negative. This is a result of the company's rapid growth.

Fastned opened 16 new stations in the past six months and now has a total of 102 stations. Apart from the Netherlands, the company is active in two other countries. In Switzerland, Fastned won a tender for the construction of 20 fast charging stations. In the UK, a tender was won for five fast charging stations. 

Also read: Cabinet plans force Fastned to suddenly postpone the issue of shares