Donkey Republic

* 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"...

* Pedalling in a structurally growing European bike-sharing market * +20% revenue CAGR in '25-'28e with strong margin expansion * Fair value range of DKK 7-10/share Pedalling in high-growth European bike-sharing market Donkey Republic ("DONKEY") is a...