Movinn (MOVINN) Q1 2025 earnings summary

Executive summary

• Q1 2025 was weaker than usual, with lower demand in January and February, but a rebound in March; results were in line with expectations and full-year guidance is maintained.

• Strategic focus remains on building direct relationships with corporate clients, enhancing technology, and maintaining high service quality.

• Operational discipline includes downscaling Odense operations by 20 units to improve profitability, with positive effects expected from Q3.

• Early Q2 shows improved demand, higher booking volumes, and better sales momentum, attributed to internal strategic initiatives.

Financial highlights

• Net revenue for Q1 2025 was DKK 20.4m, down 5.10% year-over-year from DKK 21.5m.

• EBITDA was negative DKK 2.6m, compared to positive DKK 1.1m in Q1 2024; EBIT was negative DKK 3.8m versus negative DKK 0.3m.

• Net loss for the period was DKK 3.2m, a significant increase from a DKK 0.5m loss in Q1 2024.

• Cash flow from operating activities was negative DKK 1.2m, similar to Q1 2024.

• Equity decreased to DKK 12.7m from DKK 19.8m year-over-year.

Outlook and guidance

• Full-year 2025 guidance maintained: net revenue DKK 93–97m, EBITDA DKK 5–7m, EBIT DKK 0–2m.

• Early Q2 shows positive trends in demand, booking volumes, and key KPIs such as vacancy rates and revenue per unit.

• Core'27 strategy continues to guide operational and commercial initiatives, focusing on profitability and scalability.

• Financial targets for 2026–2027: revenue CAGR +15%, EBITDA margin before special items of 15%.