GreenMobility (GREENM) Strategy Update summary

Strategic focus and financial targets

• Focus remains on the Danish market, with no current plans for international expansion and significant untapped growth potential.

• Financial targets set for 2028: 8%-12% annual organic revenue growth and 12%-16% EBITDA growth, with 2025 guidance revised upward three times to 15%-17% revenue growth and 42%-47% EBITDA growth.

• Four strategic priorities: organic growth, capital allocation, balance sheet optimization, and autonomous driving ambitions, with capital discipline and plans to redistribute excess cash if equity ratio exceeds 20%.

• Achieved profitability in 2024, with continued improvements in 2025 and a 29% YoY revenue increase in H1 2025 to DKK 74.2 million; EBITDA improved by 76% YoY to DKK 24.1 million.

• EBITDA margin rose to 32.5% in H1 2025 from 23.8% in H1 2024, and profit for H1 2025 was DKK 5.9 million, up DKK 6.85 million YoY.

Operational improvements and technology

• Major turnaround executed in 2023, shifting focus from aggressive expansion to profitability and sustainable growth.

• Digitization and AI adoption across all functions have driven efficiency, revenue growth, and automated internal processes.

• Next-generation app and dynamic pricing platform to launch in 2026, expected to boost revenue, user experience, and operational capabilities.

• Enhanced vehicle safety with cameras, smoke detectors, and damage sensors, plus parking sensors in 1,000 spots for real-time availability.

• All loan and lease liabilities are asset-backed, with asset debt reduced by 13% between December 2024 and June 2025.

Market opportunities and growth drivers

• Focused on untapped segments: non-car households, two-car families, international travelers, and 52% of families in Greater Copenhagen who do not own a car.

• New product for 17-year-olds to expand customer base by 14,000 in Copenhagen.

• Partnership discussions and dynamic pricing with mobility providers expected to increase market share and revenue.

• Urban population growth and legislative changes are expanding the addressable market.

• Operates 1,400 electric vehicles in Copenhagen and Aarhus, serving urban mobility needs.