DonkeyRepublic Holding (DONKEY) ABGSC Investor Days summary

2025 performance and operational highlights

• Achieved 13% revenue growth in 2025 despite modest fleet expansion and harsh winter conditions in key markets.

• Profitability improved significantly after structural cost adjustments and a new operating model.

• Launched a new strategy in Q3 2025, focusing on three core European regions: DACH, Nordics, and Benelux.

• Secured two major contracts in Germany (Düsseldorf and Ruhr), adding over 8,000 bikes to the fleet.

• Rolled out Generation 4 bike platform with enhanced technology and theft security.

Business model and market approach

• Operates through long-term contracts with cities and transport providers, generating revenue from fixed fees, rider usage, B2B, and sponsorships.

• Also uses a license-based model for shorter-term city operations and legacy hardware sales.

• Focused on three strategic regions, with ongoing rollouts in Germany and expansion plans in the Nordics.

• Robust tender pipeline with bids submitted for three projects and early-stage opportunities for over 30,000 bikes.

Industry trends and competitive positioning

• Micro-mobility industry is maturing, with increased integration into public transport and city infrastructure.

• European bike-sharing market expected to double by 2030, with cities favoring long-term contracts.

• Differentiates by focusing solely on bikes (pedal and e-bikes), allowing for tailored city solutions and operational efficiency.

• Competes mainly with regional players in tenders, not global giants like Voi or Lime.