GreenMobility (GREENM) H2 2024 earnings summary

Executive summary

• Transitioned from aggressive international expansion to a focused Danish market strategy, closing most international operations and reallocating resources to core cities Aarhus and Copenhagen.

• Achieved significant operational turnaround, moving from high burn rates to profitability and positive operational cash flow in 2024.

• CEO with extensive experience in mobility and software sectors led the transformation.

• Emphasized technology upgrades, operational efficiency, and product innovation to drive future growth.

Financial highlights

• Revenue from continuing operations reached DKK 129.5 million in 2024, up 72% year-over-year.

• Net profit for 2024 was DKK 9.7 million, a substantial improvement from a net loss of DKK 25 million in 2023.

• EBITDA from continuing operations increased from DKK 5.2 million in 2023 to DKK 35.8 million in 2024.

• Positive operational cash flow achieved in 2024.

• Discontinued operations resulted in a negative P&L effect of DKK 27 million, with no expected material impact in 2025.

• Capital increase of DKK 15 million from existing investors restored positive equity.

Outlook and guidance

• 2025 revenue growth expected between 7% and 13%, with EBITDA growth between 20% and 40%.

• No material impact anticipated from discontinued international operations in 2025.

• Intends to remain cash flow positive and has sufficient cash resources, with investor commitments for additional financing if needed.

• Focus on expanding car-sharing, enhancing user experience, and introducing new products.

• Plans to reduce residual value risks and lower financing costs.