Annual Report 2020
Company Announcement no. 80 – 2021
Copenhagen, March 25th, 2021
Annual Report 2020
GreenMobility is among the leading electric carsharing companies in Europe today, and continues to expand and grow its business in European cities, with a clear goal of reducing CO2 emissions, replacing private cars and generate stakeholder value.
In 2020, GreenMobility reached great results and achievements, though we were also operationally affected by the pandemic. The pandemic impacted revenue in existing cities, especially in the 1st half of the year, as well as impacted the initial growth in new cities. Despite that, we saw a strong development in the business, not least in Copenhagen, which reached operational profitability as the first fully electric carsharing business.
Key highlights of 2020:
- Launched 5 new cities to reach a total of 7 cities across 4 countries
- 44% growth in customers, to a total of 115,744
- Total income of 39.2 mDKK (2019: 35.7m) and Revenue of 34.7 mDKK (2019: 33.4m)
- Net profit at (59.7) mDKK (2019: (29.9) mDKK), as a consequence of investing in new cities, operational effects of the pandemic and a deferred financial effect due to warrant program.
- Total trips of 671,722, which is 2% less than 2019
- 775 tonnes of CO2 saved during the year
In October 2020, GreenMobility successfully completed an investment round of 75 mDKK and in December, the company’s listing was transferred to Nasdaq Main Market Copenhagen, from its previous listing at First North.
GreenMobility will continue to invest heavily in its business, to continue the planned expansion and growth plan towards its aspirations of 35 cities and 10,000 electric vehicles in 2025. For 2021, GreenMobility expects the following guidance.
- Launch of 4 - 6 new cities, to reach a total of 11 - 13 cities
- Adding 1,050 - 1,550 new electric vehicles for a total fleet of 2,000 - 2,500 electric vehicles
- Group revenue of DKK 70 – 80 million
- Operating loss of DKK 100 – 110 million, of which DKK 40 – 50 million will be for launch of new cities
- Operational city of Copenhagen to be profitable on full-year basis, and Aarhus to reach break-even
Today, the Annual Report for 2020 has been approved by the company’s Board of Directors and will be presented at the company’s Annual General Meeting, taking place on Thursday 22 April 2021. Simultaneously, the board has approved the company’s Remuneration Report 2020 and the ESG & Sustainability Report 2020. All reports can be read or downloaded at GreenMobility's investor site www.greenm.dk
Contact and further information
Anders Wall, VP Investor Relations
Tlf: +45 25 40 30 20, e-mail: email@example.com
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, through minute packages, or on a daily basis. Today, GreenMobility operates a total of 950 EVs in Copenhagen, Aarhus, Malmö, Gothenburg, Antwerp, Gent and Helsinki. More than 115,000 people have signed up with GreenMobility.
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.
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