Company Announcement no. 55 - 2020
Copenhagen, 29 April 2020
Interim Report for Q1-2020
The start of the year showed a continuance of the strong trends from 2019, but ultimately Q1 was impacted directly by Covid-19 resulting in a total of 161,113 trips and 88,839 customers.
GreenMobility started the year on a strong base from the new platform that was put in place at the end for 2019 and although there have still been efforts related to its integration with other systems, it has also resulted in a continuation of the positive effects we saw from end of 2019 with a steady growth in new customers and increasing spend among existing customers.
Going into 2020, GreenMobility was geared for growth with a number of new international cities planned for launch in the first half of the year. The cities were identified, planning and preparation was completed, and teams were in place. But as the effects of Covid-19 impacted cities across Europe, GreenMobility was forced to put the expansion plans on hold, which together with the slow-down of operations in Copenhagen, Aarhus and Oslo, impacted the total performance.
Compared to Q1 2019, the total (including Aarhus and Oslo):
- Customers grew by 71% to 88,839
- Trips were at an even level at 161,113 trips
- Minutes grew by 2.7% to 4,581,745 minutes
Total revenue dropped by DKK 1.4 million or 16% to DKK 7.0 million.
Result before tax was negative with DKK (11,1) million, which is a negative deviation of DKK 4.5 million compared to Q1 2019. The difference is mainly due to the effects – directly and indirectly – of Covid-19. Directly due to costs such as preparation of the fleet and operation in Sweden, operational cost in Aarhus where the trip volume is still at early stages, IT development cost and maintaining a general level geared for expansion, and indirectly as we are not able to launch new cities as planned with a lack of revenue as a result.
The Board of Directors has today approved the interim report for Q1-2020. The report has not been subject to audit or review.
For further information:
Anders Wall, VP Investor Relations, 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, Kongevejen 365, DK-2840 Holte
John Norden, +45 2072 0200, jn@nordencef.dk
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