Movinn (MOVINN) Q2 2026 earnings summary

Executive summary

• Net revenue for H1 2026 was DKK 41.8 million, a 6.4% decrease year-over-year, reflecting a strategic reduction in portfolio size by 19.5%.

• Revenue per unit increased by 16.2% year-over-year, indicating improved unit economics despite lower overall capacity.

• EBITDA improved by DKK 0.5 million to DKK -1.2 million, and EBIT improved by DKK 1.7 million, with Q2 2026 delivering positive EBITDA and EBIT.

• Strategic exits from underperforming markets (Odense and Västerås) are underway, with focus shifting to core markets, especially Copenhagen.

Financial highlights

• Net revenue: DKK 41.8 million in H1 2026 vs. DKK 44.7 million in H1 2025 (down 6.4%).

• EBITDA: DKK -1.2 million in H1 2026, improved from DKK -1.7 million in H1 2025.

• EBIT: DKK -2.5 million in H1 2026, improved from DKK -4.2 million in H1 2025.

• Net loss for H1 2026: DKK -3.2 million, compared to DKK -4.8 million in H1 2025.

• Cash flow from operating activities: DKK -2.1 million in H1 2026, down from DKK -0.4 million in H1 2025.

Outlook and guidance

• Full-year 2026 guidance revised to net revenue of DKK 83-85 million, EBITDA of DKK (0.5) to 1.5 million, and EBIT of DKK (3.0) to (1.0) million.

• Guidance lowered due to higher vacancy and exit from Västerås; improvement in EBITDA expected in H2 2026 as restructuring costs subside.

• Focus remains on improving occupancy in core markets and preparing for the opening of a new aparthotel in Copenhagen in mid-2027.