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Q1-2024: 50% Revenue Growth, March Shows Positive Net Result for Continuing Business

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Company Announcement no. 149 – 2024
Copenhagen, April 16th, 2024

Q1-2024: 50% Revenue Growth, March Shows Positive Net Result for Continuing Business

GreenMobility’s continuing operations generated a revenue growth of 50% in Q1-2024 compared to Q1-2023, and a positive net result for the month of March.

In Q1 2024, which is seasonally the weakest quarter for GreenMobility, the continuing operations have been significantly improving month by month.

The number of trips in Copenhagen grew to more than 60,000 in January, then in February the number of trips surpassed 70,000, and in March a total of more than 80,000 trips. This trend highlights the growth potential and that the market can absorb the number of cars being moved to Denmark from the international markets.

On the financial side the net result from continuing operations also significantly improved month by month, and March ended with a positive net result, highlighting that GreenMobility is on track to reach the goal of profitability in 2024.

Q1-2024 compared to Q1-2023

  • Revenue from continuing operations increased by 50% to DKK 24.1 million
  • Customers increased by 10% to 262,550
  • Trips increased by 11% to 293,134
  • Saved CO2 by the fleet grew by 12% to 487 tonnes.

The net result from continuing operations in Q1-2024 was negative with DKK (2.6) million, compared to DKK (2.9) million in Q1-2023. Overall, the result is in line with expectations.

GreenMobility will host a presentation of the Q1-2024 figures on Friday April 19th at 13:00, where CEO Kasper Gjedsted will present the quarter and with an opportunity to ask questions. Sign up via link:
https://hca.videosync.fi/2024-04-19-greenmobility/register

For the full details, please see attached Q1-2024 Trading Statement.

Contact and further information

Kasper Gjedsted CEO, +45 21 41 80 30: 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 in Copenhagen, Aarhus & Antwerp. 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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