Donkey Republic

Today, Donkey Republic's new CEO, Thor Möger Pedersen, and COO, Signe Storgaard, presented the company's H1 2025 results and answered questions from the audience in a live online event. The event focused in particular on the narrowed guidance for 2026 and the drivers behind it. Donkey Republic now expects revenue of DKK 184-194 million, EBITDA of DKK 38-45 million and EBIT of DKK 4-9 million for 2026.

* Q2 growth and profitability much better than expected * We remain in the top end of raised guidance * FVR of DKK 8.0-11.0 reiterated Solid Q2 triggering a raise to guidance DONKEY delivered solid +19% revenue growth in Q2'26, driven by +4% fleet growth...

* Q2 revenues +6% vs. ABGSCe, EBITDA strong at DKK 21.5m * FY'26 guidance raised * Expect consensus '26 EBITDA up 2-5% Q2 numbers vs. ABGSCe DONKEY delivered a very solid Q2, with +19% y-o-y revenue growth (vs. ABGSCe of +12%). Revenues of DKK DKK 57...

* Q2e: +12% revenue growth, EBITDA of DKK 17.0m * We remain at the top end of the FY'26 guidance * FVR of DKK 8.0-11.0 (7.5-11.0) We expect +12% revenue growth in Q2 Donkey Republic (DONKEY) will report Q2 on 17 August. We forecast revenues of DKK 54...

* Launches bike-sharing service with ~700 bikes in Helsinki * Unlikely to trigger material consensus estimate revisions... * ...but nevertheless a positive due to de-risking of execution Launches bike-sharing service with ~700 bikes in Helsinki DONKEY...

* Strong profitability in weather-harsh Q1 * German roll-outs on track; we remain in upper end of guidance * FVR raised to DKK 7.5-11.0 (7.0-10.0) Solid Q1 performance despite weather hit DONKEY delivered solid +10% revenue growth in Q1'26, driven by...

* Q1 EBITDA of DKK -1.2m above ABG DKK -3.2m * FY'26 guidance unchanged * Expect mid-single-digit positive consensus EBITDA revisions Q1 numbers vs. ABGSCe DONKEY reported a strong Q1, delivering +10% y-o-y growth and reporting revenues of DKK 29.0m ...

* Small Q1e: +10% revenue growth, EBITDA of DKK -3.2m * German roll-outs on track; we remain in upper end of guidance * +20% revenue CAGR and hefty margin uplift; FVR of DKK 7-10 We see +10% growth in Q1 despite weather drag Donkey Republic ("DONKEY"...