DonkeyRepublic Holding (DONKEY) Q1 2024 earnings summary

Executive summary

• Q1-2024 revenue reached DKK 20.6M, up 19% YoY; rider revenue growth was supported by a larger fleet, higher revenue per bike and more city contracts.

• Positive revenue growth and improved underlying EBITDA trends supported reaffirmation of FY2024 guidance.

Financial highlights

• Total revenue was DKK 20.6M, up 19% YoY; reported figures are unaudited.

• EBITDA was DKK -6.6M; excluding the DKK 2.7M one-time provision release in Q1-2023, Q1-2024 EBITDA improved by DKK 0.7M YoY.

• Revenue growth more than offset fixed-cost increases over the prior year.

Outlook and guidance

• FY2024 guidance reaffirmed: revenue DKK 135M–160M, EBITDA DKK 15M–30M and EBIT DKK 0M–5M.

• Growth strategy targets long-term city contracts beyond 2024, with newly raised funds intended to support opportunities from 2025 onward.