Freetrailer Group (FREETR) Q4 23/24 earnings summary

Executive summary

• Achieved record results in 2023/24, with 1,278,166 rentals, a 47.7% year-over-year increase, and operations in four countries.

• Celebrated 20th anniversary, expanded partnerships with IKEA, SGDS Group, JYSK, and POWER, and launched a new IT platform and app.

• Business model leverages free trailer rentals, strong partner network, and a growing outdoor advertising stream.

• High customer loyalty with NPS of 81 and average customer basket size of €350.

• Mont Blanc 2027 strategy targets market leadership in micro-mobility IT platforms and sustainable growth.

Financial highlights

• Net revenue for 2023/24 reached DKK 105.9 million, up 41% year-over-year; Q4 revenue was DKK 31.7 million, up 53.9% from Q4 22/23.

• EBITDA for the year was DKK 19.2 million, up 136.1%; Q4 EBITDA was DKK 6.2 million, up 168.9% year-over-year.

• Profit before tax for the year was DKK 15.6 million, a 176.2% increase; Q4 profit before tax was DKK 4.8 million.

• Cash and cash equivalents at year-end were DKK 33.6 million, up 108.1% from last year.

• Gross profit for 2023/24 was DKK 66.9 million, continuing a multi-year upward trend.

Outlook and guidance

• 2024/25 net revenue guidance: DKK 118–128 million; EBITDA guidance: DKK 20–25 million.

• July 2024 saw a new monthly rental record, and Q1 2024/25 is projected to have 30% rental growth year-over-year.

• Mont Blanc 2027 strategy aims for significant market share and profitability by 2027.

• Plans to capitalize DKK 5 million in development projects to support platform leadership.