Movinn (MOVINN) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached 44.7 million, a slight increase from the previous year, but overall financial performance was below expectations due to weak results in secondary markets in Denmark and Sweden.

• EBITDA declined to minus 1.7 million from 2.1 million last year, and EBIT dropped to minus 4.2 million from minus 0.6 million.

• Operational improvements in Q2 were noted, but not enough to offset a disappointing first half.

• Strategic focus has shifted from growth to profitability and efficiency, with resource reallocation and downscaling in underperforming markets like Odense.

• Commercial progress includes a major framework agreement with a large C25 company and full operation of the Malmö apartment hotel.

Financial highlights

• Net revenue increased 1.4% year-over-year to 44.7 million in H1 2025.

• EBITDA was minus 1.7 million, down from 2.1 million year-over-year.

• EBIT was minus 4.2 million, a significant decline from minus 0.6 million year-over-year.

• Operating cash flow improved by 120,000 compared to the same period last year, with Q2 alone delivering a positive operating cash flow of 830,000.

• Profit for the period was minus 3.8 million, compared to minus 1.0 million in H1 2024.

Outlook and guidance

• Full-year 2025 guidance revised downward: net revenue now expected at 91–93 million (from 93–97 million), EBITDA at 0–2 million (from 5–7 million), and EBIT at minus 5 to minus 3 million.

• Strategic roadmap 'Core'27' remains in place, targeting a 15% revenue CAGR and 15% EBITDA margin by 2027.

• Long-term focus remains on core business and profitability across all markets.

• Further downscaling in secondary and underperforming markets is under assessment.