MoveByBike (MBBAB) Q1 2025 earnings summary

Executive summary

• Net sales increased to 6,929 TSEK in Q1 2025 from 5,812 TSEK year-over-year, mainly driven by growth in Copenhagen operations.

• Net loss after tax improved to -6,345 TSEK from -9,958 TSEK year-over-year, reflecting cost control and restructuring efforts.

• Company entered and continued corporate restructuring, aiming to exit by summer 2025, with significant operational and contractual changes.

• Focus shifted from survival to growth, leveraging existing resources and improved customer contracts in all cities.

Financial highlights

• EBITDA for Q1 2025 was -5,038 TSEK, an improvement from -5,584 TSEK in Q1 2024.

• Operating loss (EBIT) was -5,921 TSEK, compared to -8,590 TSEK year-over-year.

• Cash and bank balances stood at 1,101 TSEK at quarter-end, up from 383 TSEK year-over-year.

• Equity at period end was -21,144 TSEK, compared to -20,446 TSEK a year earlier.

• Total assets decreased to 12,501 TSEK from 23,176 TSEK year-over-year.

Outlook and guidance

• Management expects improved profitability as effects of renegotiated contracts and cost reductions materialize from Q2 2025.

• Results for April and possibly May will be published ahead of the half-year report to support the application to exit restructuring.