GreenMobility Increases Guidance for 2024
Company Announcement no. 154 – 2024
Copenhagen, June 8th, 2024
GreenMobility Increases Guidance for 2024
GreenMobility announces an upward adjustment in our financial guidance for 2024, reflecting our strong commitment to profitable growth following our change of strategy earlier this year. We are on track to become the first and only company in Europe to demonstrate the profitability of shared electric cars.
Updated Financial Guidance:
We are adjusting our 2024 guidance for the continued business upwards as follows:
• Revenue of DKK 120-130 million (previously DKK 115-125 million)
• Net profit from continuing operations of DKK 2-12 million (previously DKK 0-10 million)
Strategic Execution:
In the first half of 2024, we successfully executed our strategy of consolidating operations by relocating all electric vehicles from Finland, Holland, and Belgium to Denmark. As part of this consolidation, we made the decision to exit all international markets, concentrating our resources on driving profitability in Denmark.
Market Response and Performance:
We are pleased to report that customer response in Denmark has been very positive, with revenue per car per month reaching satisfactory levels. We are optimistic about further revenue growth in the second half of 2024, driven by increased adoption of our services.
H1-2024 Preliminary Financial Results for the continuing operations compared to H1-2023:
- Revenue from continuing operations increased by 59% to DKK 57.4 million
- Net profit from continuing operations amounts to DKK -1.0 million
- Net profit in Q1-2024 amounts to DKK -2.5 million (DKK -2.9 million in Q1-2023*)
- Net profit in Q2-2024 amounts to DKK +1.5 million (DKK -0.8 million in Q2-2023)
*Net profit in Q1 2023 of DKK -2.9 million includes non-recurring grants of DKK 3.4 million, which impacts positively on the net result.
While discontinued operations will reflect a loss in H1-2024 due to closure and relocation costs, these expenses will decrease substantially in the second half of the year.
The comparison figures for 2023 have been restated from the official H1-2023 report.
Our comprehensive H1-2024 results will be published on August 27th, 2024.
Upcoming Event:
GreenMobility will host a presentation of the preliminary H1-2024 figures on Friday 9 August at 10.00, where CEO Kasper Gjedsted will provide the opportunity to ask questions. Sign up via the following link:
https://hca.videosync.fi/2024-08-09-gm/register
Contact and further information
Kasper Gjedsted, CEO, +45 21 41 80 30, e-mail: kg@greenmobility.com
About GreenMobility
GreenMobility offers modern urbanites easy, flexible, and sustainable transport in the form of electric shared city cars. Users have access to these cars via the GreenMobility app. Trips are paid per minute, through minute packages, on a daily basis or through a subscription. Today, GreenMobility operates a total of 1,400 EVs.