GreenMobility opens in Sweden with positive recovery from Covid-19 and updated guidance for 2020

                                                                                                                                                                                    Company Announcement no. 57 – 2020

Copenhagen, June 9^th, 2020

GreenMobility opens in Sweden with positive recovery from Covid-19 and updated guidance for 2020

Despite some restrictions remain in society, GreenMobility’s trip numbers are back at a level equal to the period before Covid-19, even though the larger educational institutions, the airport and nightlife are still closed down.

Throughout the period, GreenMobility has seen a continued stable customer acquisition, therefore GreenMobility expects to come out strengthened once all aspects of society are back.

On March 20^th, GreenMobility suspended its guidance for 2020, due to the expected negative effects of Covid-19, but also due to travel limitations causing postponement of the planned launches in new international cities.

GreenMobility’s Q1 report was directly impacted by this, and the Q2 report will be impacted as well.

On June 15^th, GreenMobility will launch its electric car sharing service in both Malmö and Gothenburg. GreenMobility will initially bring a fleet of 200 zero-emission electric vehicles to the cities, where it’s expected that more than 15,000 customers will sign up for the service in 2020.

The plan for the two cities were paused due to Covid-19, but both cities are now ready and GreenMobility sees a great potential for its car sharing concept in Sweden.

GreenMobility will service both cities from Copenhagen with its customer service, digital marketing platform and full operational backbone, which enables GreenMobility to operate several cities in a lean and scalable structure. The service in Sweden will include the Landvetter Airport in Gothenburg as well as parts of Lund, to support the educational institutions. And naturally, the GreenMobility app can be used across all GreenMobility cities.

Updated guidance 2020

On an overall basis, GreenMobility will maintain its original guidance for 2020, however with a delay of estimated 3-4 months.

The updated expectations are therefore:

• 4-6 new cities, including Malmö, Gothenburg, Antwerp and Ghent
• 5-7 operational cities
• Copenhagen profitable on a month-by-month basis – expected in Q3-Q4
• Negative net profit on Group level

For further information:

Anders Wall, VP Investor Relations GreenMobility, phone: , mail:

GreenMobility A/S, Landgreven 3, 1301 København K, CVR: 35521585,  

Certified Advisor

NORDEN CEF ApS

John Norden

Kongevejen 365, DK-2840 Holte

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. Today, GreenMobility operates 400 cars in Copenhagen; and 250 cars in Oslo and 100 cars in Aarhus together with our partner NRGi. More than 75,000 people have signed up with GreenMobility.

Driven by global megatrends, GreenMobility sees a rapidly growing market for car sharing 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 listed on the Nasdaq First North GM in Copenhagen.

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