Company Announcement no. 166 - 2025
Copenhagen, March 20th, 2025
2024 Annual Report - GreenMobility delivers 72% revenue growth with first ever profitability on continuing operations
In 2024, GreenMobility successfully transitioned from hyper-growth to profitable growth, executing a strategic shift to focus exclusively on the Danish market.
This refocus has resulted in significant financial improvements, marking a milestone year where GreenMobility achieved profitability and reached our growth targets on continuing operations, in line with the communicated guidance.
The company's strategic decision to exit international markets and fully consolidate operations in Denmark has proven effective, ensuring a financially sustainable and cash flow-positive business model.
Key highlights of 2024 from continuing operations:
- Revenue of DKK 129.5 million, representing a 72% growth compared to 2023 (DKK 75.3 million).
- EBITDA of DKK 35.8 million, representing a 589% improvement from DKK 5.2 million in 2023.
- Net profit of DKK 9.7 million from continuing operations, compared to a net loss of DKK 25.0 million in 2023.
Discontinued operations resulted in a net loss of DKK 27.0 million, with all related activities reflected in the 2024 results.
The guidance for 2024 was revenue in the range of DKK 120-130 million and a positive net profit of DKK 2-12 million from continuing operations. We have achieved our goal for 2024 delivering on our commitment to investors and stakeholders and created the basis for the future of GreenMobility.
Guidance 2025:
For 2025, GreenMobility expects:
- Revenue growth of 7-13%
- EBITDA growth of 20-40%
The company remains focused on profitable growth within Denmark.
Key priorities for 2025 include:
- Strengthening GreenMobility's role as an integrated part of urban transportation.
- Leveraging growth opportunities in personal car-sharing, the professional segment, longer-term rentals, and new services.
- Continuing to invest in product and service improvements, ensuring optimal availability, pricing, and convenience for customers.
Today, the Annual Report for 2024 has been approved by the company's Board of Directors and is publicised as the file "GREENMOBILITY-2024-12-31-0-en.zip" in compliance with the ESEF regulation.
The Annual Report will be presented at the company's Annual General Meeting, taking place on Tuesday 22 April 2024. Simultaneously, the board has approved the company's Remuneration Report 2024 and Sustainability Report (as an integrated part of the 2024 Annual Report). All reports are attached and are also available on GreenMobility's investor site https://www.greenmobility.com/investors
CEO Kasper Gjedsted will present the annual report and plans & guidance for 2025 at a web cast: Tuesday the 25th of March at 14:00. Sign up for participation, where you can also ask relevant questions: https://www.inderes.dk/videos/greenmobility-presentation-of-the-2024-annual-report
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 and vans. Users have access to these vehicles via the GreenMobility app. Trips are paid per minute, through minute packages, on a daily, weekly or monthly basis or through a subscription. Today, GreenMobility operates a total of 1,400 EVs in Copenhagen and Aarhus.
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.
