Company Announcement no. 68 – 2020
Copenhagen, October 14th, 2020
Interim report for Q3-2020: Continued profitability in Copenhagen
Continued profitability in Copenhagen and all-time high revenue in the group
In Q3, GreenMobility reached an important milestone, as the operation in Copenhagen reached profitability with profits in both August and September. This has been a milestone for the company, but also for the car sharing industry, as GreenMobility is the first all-electric car sharing business to report profitability and thereby also a proven business.
In addition to the launch of two Swedish cities in end of Q2, GreenMobility launched its service in Antwerp and Gent in Belgium at the end of Q3. Today, GreenMobility operates in 6 cities across 3 countries.
Q3-2019 versus Q3-2020
Overall, compared to Q3-2019, the total including all operational cities:
- Customers grew by 43% to 103,600
- Trips dropped by 3% to 165,008
- Saved CO2 by the fleet dropped by 8% to 167 ton
(Trips and CO2 included Oslo in Q3-19)
Total revenue grew by DKK 2.3 million or 28% to DKK 10.6 million which is all time high for GreenMobility group.
Result before tax was negative with DKK (11.5) million, a negative deviation from Q3-2019 of DKK 0.7 million. Performance in Copenhagen is positive, the negative result is mainly due to operational costs in Aarhus, Malmö & Gothenburg and launch cost in Belgium.
GreenMobility’s growth strategy of expanding our green car sharing business to European cities is unchanged. To support the continued expansion and growth, the previously announced plans of a capital increase, is expected to be carried out in the near future as a private placement at market price. In connection with the private placement, GreenMobility expects to raise equity in the range of DKK 50-100 million potentially combined with a loan facility in the level of up to DKK 75 million.
For more details, please see the Q3-2020 report attached.
For further information:
Anders Wall, VP Investor Relations GreenMobility, phone: +45 2540 3020, mail: aw@greenmobility.com
GreenMobility A/S, Landgreven 3, 1301 København K, CVR: 35521585, www.greenmobility.com
Certified Advisor
NORDEN CEF ApS
John Norden
Kongevejen 365, DK-2840 Holte
+45 2072 0200
jn@nordencef.dk
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 EVs in Copenhagen; 200 EVs in Malmø and Gothenburg, and 100 cars in Aarhus together with our partner NRGi. More than 100,000 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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