MoveByBike (MBBAB) Q4 2024 earnings summary

Executive summary

• Net sales for 2023 increased to 20,038 TSEK from 16,701 TSEK year-over-year, but net loss deepened to -35,293 TSEK from -12,135 TSEK.

• Q4 2023 saw a net loss of -25,856 TSEK, significantly higher than -3,187 TSEK in Q4 2022, despite revenue growth.

• Acquisition of Bzzt AB in October 2023 aimed to create synergies and improve cash flow, but Bzzt Stockholm AB was declared bankrupt after year-end, leading to a write-down.

• New contracts signed with Premo and CWS, expanding customer base in sustainable logistics.

Financial highlights

• Q4 2023 net sales: 5,138 TSEK (up from 3,949 TSEK in Q4 2022); full-year 2023 net sales: 20,038 TSEK (up from 16,701 TSEK in 2022).

• Q4 2023 EBITDA: -2,849 TSEK (vs. -1,848 TSEK in Q4 2022); full-year EBITDA: -8,571 TSEK (vs. -7,019 TSEK in 2022).

• Q4 2023 net result: -25,856 TSEK (vs. -3,187 TSEK); full-year net result: -35,293 TSEK (vs. -12,135 TSEK).

• Cash and bank at year-end: 1,157 TSEK (vs. 1,026 TSEK prior year).

• Equity at year-end: -18,622 TSEK (vs. 3,434 TSEK prior year).

Outlook and guidance

• Focus on rationalization, organizational restructuring, and leveraging synergies from the Bzzt acquisition to achieve positive cash flow.

• Expansion of customer base and service offering in sustainable last-mile logistics.