Company Announcement no. 59 - 2020
Copenhagen, 19 August 2020
Back on track post Covid-19
The Q2 impact from Covid-19 was significant on GreenMobility and the operation dropped to index 30 measured on revenue. From this level, we saw a positive and steady growth, not least impacted by a higher customer focus on flexible and sustainable mobility solutions. Towards the end of Q2, GreenMobility’s revenue was not only back at previous level, but in index 120 compared to before Covid-19.
Q2-2019 versus Q2-2020
Since then, the strong growth has continued, and post Q2 we have seen record high levels leading to breakeven in the Copenhagen business in July and expect this positive growth trend to continue.
Overall, compared to Q2-2019, the total including all operational cities:
- Customers grew by 45% to 93,320
- Trips dropped by 11% to 156,727
- Saved CO2 by the fleet dropped by 9% to 162 ton
Total revenue dropped by DKK 3.8 million or 37% to DKK 6.5 million
Result before tax was negative with DKK (11.7) million, a negative deviation from Q2-2019 of DKK 6.2 million. The deviation is directly related to Covid-19, where GreenMobility continued to invest in development in order to introduce new services. Compared to last year, operation in Aarhus and launch in Malmö & Gothenburg and preparation in Belgium also affected the result negatively.
Focus from cities on having sustainable mobility has increased during and post Covid, where the transition to green mobility solutions has become top priority, which has a direct and positive effect on GreenMobility’s business.
GreenMobility maintains its guidance for 2020, as updated on June 9th in company announcement no. 57. As stated in that, GreenMobility expects the Copenhagen business to become profitable on a month-by-month basis during second half of 2020.
For further information:
NORDEN CEF ApS
Kongevejen 365, DK-2840 Holte
+45 2072 0200
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.