DonkeyRepublic Holding (DONKEY) Q3 2024 earnings summary

Executive summary

• Q3 revenue reached a record DKK 51.0M, up 25% YoY, while EBITDA rose 60% to DKK 17.6M.

• Growth reflected a larger fleet, higher utilization and ramp-up of subsidized operations.

Financial highlights

• Q3 total revenue was DKK 51.0M, up 25% YoY; unaudited.

• Q3 EBITDA was DKK 17.6M, up 60% YoY; unaudited.

• Approximately two-thirds of the revenue increase reached EBITDA; operating costs rose to support long-term fleet functionality.

Outlook and guidance

• FY2024 revenue guidance narrowed to DKK 135M–145M from DKK 135M–160M; stated growth of 17%–26% vs. 2023.

• FY2024 EBITDA guidance narrowed to DKK 16M–21M from DKK 15M–30M; stated growth of 68%–142% vs. 2023.

• FY2024 EBIT guidance changed to DKK -4M to +1M from DKK 0M–5M, reflecting slower fleet growth and one-time bike-quality investments.

• Revenue is projected to increase DKK 20M–30M vs. 2023, with YoY EBIT improvement of DKK 6.6M–11.6M.