GreenMobility: Adjusts its 2023 guidance, no cash effect
Today, GreenMobility announced that the company will restate its fleet accounting and therefore also change its 2023 guidance after a discussion with their auditors. This is only a timing effect with no effect on cash flow and a total zero net financial effect over years.
During the second half of 2023, GreenMobility sold and refinanced a part of its fleet and booked significant profits when comparing book value to market value. This has generated a profit of around DKK 16m. Consequently, the 2023 guidance on net loss for the continuing business is adjusted from between DKK -51m to -46m to between DKK -35m to -25m.
The profit of DKK 16m will instead be booked in the coming years with an expected positive effect of DKK 5m in 2024, which supports the company's goal of being group profitable in 2024. However, with no positive cash effect in 2024. The refinancing has ensured GreenMobility's liquidity and a lower monthly cost on parts of its fleet going forward.
Read the full announcement here: https://www.inderes.dk/releases/restating-fleet-accounting-to-impact-2023-negatively-but-positively-impacting-2024-and-beyond
GreenMobility will report its 2023 annual report on 7 March 2024. Sign up for the management presentation, where you also can ask questions: https://www.inderes.dk/videos/greenmobility-presentation-of-annual-report-2023
Disclaimer: HC Andersen Capital receives payment from GreenMobility for a Digital IR/Corporate Visibility agreement. HC Andersen Capital's CEO Tue Østergaard is the Chairman of GreenMobility and owns shares in the company. /Michael Friis 15:30, 23 February 2024.
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GreenMobility
GreenMobility is a Danish company in the Mobility-as-a-Service space. GreenMobility operates a free-floating carsharing business of more than 1,000 electric vehicles across larger cities in Europe, aspiring to grow this number to around 10,000 in 2025. More than 100,000 people have signed up on the service, and users have access to the GreenMobility cars through the GreenMobility app. With thousands of daily trips, GreenMobility helps reduce congestion in cities with a climate impact. GreenMobility is listed at OMXC Small Cap in Denmark. The share was transferred to the Nasdaq Main Market in December 2020 from Nasdaq First North.
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