GreenMobility reaches operational profitability as the first electric carsharing brand

Company Announcement no. 62 – 2020
Copenhagen, September 3^th, 2020

GreenMobility reaches operational profitability as the first electric carsharing brand

With a profit of DKK 350,000 before tax for August, GreenMobility’s operation in Copenhagen has reached profitability, following breakeven in July, as the first car sharing company operating only electric vehicles. At the same time the company reports record-high number of active customers, despite the airport and many educational institutions still being closed.

Delivering profitable electric car sharing is a key milestone for GreenMobility and proof that car sharing is the sustainable mobility choice for the future. As a frontrunner in the carsharing industry, this milestone strengthens the company’s growth aspirations and plans for further expansion.

At the same time, the profitability in Copenhagen also enables GreenMobility to report a combined profit for its operation in Denmark, including Aarhus, which be itself is not profitable yet, but expected within 12 months.

Copenhagen will continue to grow and is expected to maintain a profitable run-rate. Based on our success in Copenhagen, we expect that our other operational cities as Aarhus, Malmö and Gothenburg as well as our planned launch in Antwerp, Gent and Helsinki, will become profitable quicker than Copenhagen.

GreenMobility continues to have a month-by-month growth in both customers and trips made, and it has become clear that car sharing has become a natural part of everyday life for most people, where many prefer a sustainable solution with EV’s.

The success in Copenhagen comes from a dedicated focus on continuously improving the service and upholding a high service level, while optimizing the platform and backend operations.

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 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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• GreenMobility reaches operational profitability as the first electric carsharing brand