GreenMobility (GREENM) H1 2025 earnings summary

Executive summary

• Achieved 29% year-over-year revenue growth and 76% increase in EBITDA in H1 2025, with net profit of DKK 5.9 million compared to a loss in H1 2024.

• Strategic focus on the Danish market, closing international subsidiaries and streamlining operations, led to improved financial performance and record customer numbers.

• Discontinued all non-Danish operations, with Belgium in formal insolvency proceedings; all resources now focused on Denmark.

• Fleet primarily consists of Renault Zoes, with additions like vans, premium cars, and a new seven-seater ID. Buzz to address diverse customer needs.

• More than 100,000 monthly users utilize the app-based car sharing service, reflecting strong customer engagement.

Financial highlights

• Revenue for H1 2025 increased to DKK 74.2 million from DKK 57.4 million in H1 2024.

• EBITDA increased to DKK 24.1 million from DKK 13.7 million, with EBITDA margin improving to 32.5% from 23.8%.

• Net profit reached DKK 5.9 million, reversing a DKK 24-25 million loss in H1 2024.

• Cash at bank and in hand stood at DKK 8.3 million as of June 30, 2025.

• Loan obligations decreased by 19% and lease liabilities reduced to DKK 34.2 million from DKK 44.8 million at year-end 2024.

Outlook and guidance

• Upgraded full-year guidance: revenue growth expected at 10%-13% and EBITDA growth at 25%-40%.

• Operations remain cash flow positive, supporting continued investment in customer experience and further reduction in financial costs.

• Sufficient liquidity secured through a new bank facility and strong positive cash flow.

• Management remains cautious in guidance to avoid overpromising, especially given past performance.

• Awaiting completion of summer before further updates on second-half expectations.