Fastned: Q2-26 preview: Further elevated charging demand expected

研报英文原文证据摘录

Fastned: Q2-26 preview: Further elevated charging demand expected

Deutsche Bank

Research

Rating Company Date

Hold Fastned 24 June 2026

Company Update

Europe

Netherlands

Reuters Bloomberg Exchange Ticker Price at 23 Jun 2026 (EUR) 27.80

FASTN.AS FAST NA AEX FASTN

Price Target (EUR) 33.00

Autos

52-week range (EUR) 38.15 - 19.98

Auto Parts

Q2-26 preview: Further elevated

Valuation & Risks charging demand expected

Nikita Papaccio

Q2-26 results on August 13th Research Analyst

Fastned will report Q2-26 results on August 13th, followed by a conference call on +49-69-910-48637

the same day. As of today, the network comprises 423 charging stations, an

Christoph Laskawi

increase of 9 stations since the end of Q1-26. We anticipate the completion of some Research Analyst

construction sites in the coming days, leading us to incorporate a slightly higher +49-69-910-31924

number into our forecasts. Following the Q1 release, Fastned indicated that

Nicolai Kempf

charging demand did not decline in early April, contrary to typical seasonality. We

Research Analyst

believe this could be linked to recent oil price hikes and assume this trend has

+49-162-5168792

continued throughout Q2. However, we expect charging demand to normalize once

oil prices sustainably return to pre-Iran conflict levels. Regarding the 2026 outlook, Mira Wiegratz

as we forecast an acceleration in the build pace during H2, we do not anticipate an Research Associate

+49-69-9103-1733

adjustment to the current outlook.

FY26 guide: no change expected

We do not expect the company to adjust its 2026 outlook with the H1 release.

Although 50 stations still need to be installed to reach the lower end of the range,

we expect the typical seasonality with more stations being built in the second half

of the year.