GreenMobility (GREENM) Q1 2025 TU earnings summary

Executive summary

• Focus shifted to Danish market, exiting international expansion to drive profitability and operational efficiency.

• Achieved significant turnaround with strong revenue and EBITDA growth, attributed to strategic refocus and operational improvements.

• Revenue grew 36% year-over-year in Q1-2025, reaching DKK 32.8 million, with EBITDA up 84% to DKK 6.9 million.

• Operational improvements were seen month by month, despite Q1 being seasonally weakest.

• Preparations underway for a new app launch in Q2 to enhance customer experience and efficiency.

Financial highlights

• 2024 revenue reached DKK 129.5 million, at the upper end of guidance, representing 72% growth year-over-year.

• Q1-2025 revenue increased from DKK 24.1 million in Q1-2024 to DKK 32.8 million.

• EBITDA improved from DKK 5.2 million in 2023 to DKK 35.8 million in 2024; Q1-2025 EBITDA up 84% year-over-year to DKK 6.9 million.

Outlook and guidance

• Full-year 2025 guidance: revenue growth of 7–13% and EBITDA growth of 20–40%.

• Highest percentage growth expected in H1 2025 due to vehicle relocation and fleet expansion in Denmark.

• Q1 is seasonally the lowest quarter; growth rates expected to normalize for the remainder of the year.