Danish car-sharing firm GreenMobility is benefiting from societal reopenings in Europe and exits the second quarter of 2021 with its highest revenue post to date.

Revenue comes to DKK 12.5m (EUR 1.68m), approximately a tripling compared to the same period of 2020, when the Covid crisis got started in earnest. The item is up from the first quarter as well, by around DKK 5m.

The development is due to an increased number of customers, with the quarter seeing 135,000 against just 93,000 in the same period last year.

However, operations remain negative for the company, though improved. Earnings before interest, taxes, depreciations and amortizations come to a negative DKK 6.7m against minus DKK 8.2m in Q1 2020, while earnings before interest and taxes land at negative DKK 11.6m against DKK 11.7m the year before.

The bottom line comes to minus DKK 12.5m against minus DKK 11.7m in 2020. The company writes that this development is in line with expectations.

GreenMobility maintains its guidance for 2021, which was updated in early July. The company now expects revenue to land at DKK 60-70m (previously DKK 70-80m), which is up to double that seen in 2020.

A considerably improved bottom line is also expected - the company calculates with a deficit of DKK 55-65m against the previous estimate of DKK 100-110m as a result of lower costs, among other factors.

GreenMobility has previously announced a 2025 goal of being present in 35 cities compared to the current 9 and of increasing its fleet of electric cars to more than 10,000 from the current 950.

(This article was provided by our sister media, MobilityWatch)

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