GreenMobility (GREENM) Q1 2026 TU earnings summary

Executive summary

• Achieved 8% revenue growth in Q1 2026, reaching DKK 35.5 million, despite seasonally low demand and harsh winter conditions.

• EBITDA increased by 60% year-over-year to DKK 11.0 million, with margin rising to 31.0%, driven by operational excellence and cost control.

• Launched a new app, improving customer experience and enabling advanced yield management and backend efficiencies.

• Continued digitalization and fleet upgrades, including AI-enabled cameras, sensors, and smoke/vaping detectors, enhancing efficiency and safety.

• First of 185 new electric vehicles added to the fleet, with full deployment expected in Q2 2026.

Financial highlights

• Q1 2026 revenue in Denmark reached DKK 35.5 million, up from DKK 32.8 million in Q1 2025, with no fleet expansion during the quarter.

• EBITDA rose to DKK 11.0 million from DKK 6.9 million year-over-year.

• EBITDA margin improved to 31.0% in Q1 2026 from 21.1% in Q1 2025.

• 2025 full-year revenue grew 20% and EBITDA grew 57% year-over-year.

• Market capitalization at DKK 450 million as of April 16, 2025.

Outlook and guidance

• Maintains 2026 guidance: 8%-12% revenue growth and 12%-16% EBITDA growth over 2025.

• 2028 targets: average annual revenue growth of 8-12% and EBITDA growth of 12-16%.

• Strategic focus remains on Denmark, with untapped revenue potential and operational efficiency levers identified.

• No guidance upgrade yet due to macroeconomic uncertainties and early stage of the year.

• No plans for international expansion; focus remains on Danish market.