GreenMobility (GREENM) Q1 2025 TU earnings summary

Executive summary

• Focus shifted to the Danish market, exiting international expansion to drive profitability and operational efficiency, with strong revenue and EBITDA growth continuing into Q1 2025.

• Customer base and trip volume increased, supported by expanded fleet and improved market uptake, with over 100,000 trips per month and more than 12,000 tonnes of CO2 saved to date.

• Advanced fleet management features, including smoke and damage detection and dash cams, were implemented to enhance customer experience and risk mitigation.

• Preparations underway for a new app and backend platform launch in Q2 to further improve onboarding, efficiency, and user experience.

• Operational improvements were seen month by month, despite Q1 being seasonally weakest.

Financial highlights

• 2024 revenue reached DKK 129.5 million, a 72% increase year-over-year, with Q1 2025 revenue up 36% to DKK 32.8 million.

• 2024 EBITDA was DKK 35.8 million, a 589% improvement over 2023; Q1 2025 EBITDA rose 84% year-over-year to DKK 6.9 million.

• Q1 revenue and EBITDA growth reflect continued operational momentum.

Outlook and guidance

• 2025 guidance: revenue growth of 7–13% and EBITDA growth of 20–40%, with highest percentage growth expected in H1 2025 due to vehicle relocation and fleet expansion.

• Q1 is seasonally the lowest quarter; growth rates expected to normalize for the remainder of the year.

• Strategic focus remains on profitability, sustainable growth, and lowering financing costs.