Company Announcement no. 156 - 2024
Copenhagen, October 10th, 2024
Q3-2024: Second Consecutive Quarter of Profit
GreenMobility's continuing operations generated revenue growth of 92% in Q3-2024 compared to Q3-2023, with a positive net result of DKK 2.4 million.
This marks the second consecutive quarter of profitability for GreenMobility's continuing operations.
In Q3 2024, continuing operations showed consistent improvement month by month, driving accelerated growth in both revenue and profitability. This performance confirms that GreenMobility remains on track to achieve profitability on the continuing operations for the full year 2024, in line with our guidance.
Q3-2024 highlights
- Revenue from continuing operations increased by 92% to DKK 36.1 million (up from DKK 18.8 million in Q3 2023)
- Profit from continuing operations increased to DKK 2.4 million (up from DKK 1.8 million in Q2 2024)
- Loss from discontinued operations has decreased significantly in Q3 2024, in line with expectations
Operational update
Our strategy to infleet cars in a controlled manner, aligned with demand, has been successful. All planned vehicles from international markets have now been transferred to Denmark and are fully operational within the Danish fleet which totals around 1,400 vehicles.
Despite a significant expansion of the fleet in Denmark, revenue per car has seen a substantial increase.
In Copenhagen, revenue per car increased by 8%, from DKK 8,700 in Q3-2023 to DKK 9,400 in Q3-2024.
In Aarhus, revenue per car increased by 21%, from DKK 5,200 in Q3-2023 to DKK 6,300 in Q3-2024.
GreenMobility will host a presentation of the Q3-2024 figures on Friday 11 October at 13.00 CET, where CEO Kasper Gjedsted will present the quarter and with an opportunity to ask questions. Sign up via link:
https://www.inderes.dk/videos/greenmobility-presentation-of-q3-2024-trading-update
For the full details, please see attached Q3-2024 Trading Statement.
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.
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.
