Q3-2023: 22% revenue growth YTD compared to 2022 and first month of net profit
Company Announcement no. 131 – 2023
Copenhagen, October 12th, 2023
Q3-2023: 22% revenue growth YTD compared to 2022 and first month of net profit
During Q3-2023, GreenMobility generated a growth in revenue of 10% compared to Q3 last year and YTD the revenue has grown by 22%. The quarter has to some extent been impacted by summer travels in July and August and continued in-phasing in of cars in some markets. Overall, all markets have seen revenue growth.
Q3 ended with September becoming the first ever month with positive net profit on Group level in the level of DKK 0.5 million, as announced in company announcement no 130 on 9 October 2023. On YTD 2023, the net result has been improved by 40% compared to YTD 2022. This marks a significant step towards the company’s strategic plan of being profitable in 2024. The strategic focus includes cost cutting and activating its balance sheet by realizing gains on cars and adjusting the fleet composition going forward for electric vehicles that carries a lower holding cost but can realize a similar or higher revenue as today.
Q3-2023 compared to Q3-2022
Figures include all operational cities:
- Revenue increased by 10% to DKK 29.0 (-4% compared to Q2-2023)
- Customers increased by 24% to 263.414 (+4% compared to Q2-2023)
- Trips increased by 6% to 293.117 (-2% compared to Q2-2023)
- Saved CO2 by the fleet grew by 2% to 632 tonnes.
The net result was negative with DKK (7.1) million, compared to DKK (20.3) million in Q3-2022 and DKK (9.4) million in Q2-2023. The net result is improved as a result of cost adjustments and positive effects from sale-and-leaseback of cars. Overall, the result is in line with expectations.
GreenMobility will host a presentation of the Q3-2023 figures on Thursday 12 October at 13.00 CET, where CFO Anders Wall will present the quarter and with an opportunity to ask questions. Sign up via link:
For the full details, please see attached Q3-2023 Trading Statement.
Contact and further information
Anders Wall, Group CFO, , e-mail:
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 1,600 EVs in Copenhagen, Aarhus, Antwerp, Gent, Brussels, Helsinki, Amsterdam. More than 250,000 people are registered as customers at GreenMobility.
Driven by global megatrends, GreenMobility sees a rapidly growing market for carsharing in large cities that demand green transport for their citizens and aim to reduce the number of private cars. GreenMobility’s ambition is to be among the leading global operators of green shared mobility solutions. GreenMobility is publicly listed for trading on the Nasdaq Main Market Copenhagen in Denmark.
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