GreenMobility: Q3-2026 growth re-accelerates to 9%, EBITDA up 12%, guidance maintained
Sammanfattning
- GreenMobility's Q3-2026 revenue increased by 9% to DKK 44.5m, with EBITDA rising 12% to DKK 19.0m, resulting in an EBITDA margin of 42.6%.
- For the first nine months of 2026, revenue grew 6% to DKK 121.7m, and EBITDA increased 16% to DKK 47.8m, with a year-to-date EBITDA margin of 39.2%.
- The company maintains its FY2026 guidance of 5-9% revenue growth and 12-16% EBITDA growth, with the midpoint suggesting FY2026 revenue of approximately DKK 164.7m and EBITDA of approximately DKK 61.6m.
- Q3-2026 marked a re-acceleration in growth following a fleet expansion, with operational gearing showing an incremental EBITDA margin of around 55% on added revenue.
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GreenMobility today released its Q3-2026 trading statement. Revenue grew 9% to DKK 44.5m (Q3-2025: DKK 41.0m) and EBITDA grew 12% to DKK 19.0m (DKK 17.0m). The EBITDA margin was 42.6% against 41.5% in Q3-2025 and 42.5% in Q2-2026.
For the first nine months of 2026, revenue was DKK 121.7m, up 6% from DKK 115.2m in the same period last year, and EBITDA was DKK 47.8m, up 16% from DKK 41.1m. The YTD EBITDA margin was 39.2% against 35.7% a year earlier. The figures are unaudited.
The company maintains its updated guidance for FY2026 of revenue growth of 5-9% and EBITDA growth of 12-16% compared with FY2025. The guidance was adjusted in connection with the H1 report, where the revenue range was lowered from 8-12% while the EBITDA range was left unchanged.
The midpoint of the guidance, 7% revenue growth and 14% EBITDA growth, corresponds to FY2026 revenue of approximately DKK 164.7m and EBITDA of approximately DKK 61.6m. That corresponds to revenue growth of around 11% and EBITDA growth of around 7% in the fourth quarter, compared with the 6% and 16% delivered in the first nine months.
The operational gearing continues to work. The incremental EBITDA margin in the quarter was around 55% (DKK 2.0m of EBITDA on DKK 3.6m of added revenue), and the margin held essentially flat sequentially at a high level, 42.6% against 42.5% in Q2, which are the two seasonally strongest quarters.
The central question in the investment case has been whether the delayed fleet expansion could restore the growth trajectory in H2 in an environment with increasing competition in the Copenhagen taxi market, and Q3 is the first quarter that answers it. The quarterly revenue path through 2026 has been 8% in Q1, around 1% in Q2 and 9% in Q3. Growth therefore troughed in Q2, when the 185 additional cars were still being infleeted, and has re-accelerated in the first full quarter with the expanded fleet in operation. That is the sequence the case assumed, and it is the most important read-across from this statement
Management presents the Q3-2026 trading statement on Tuesday 14 October at 13:00 CEST. Questions can be asked live or submitted in advance.
Sign up here: https://www.inderes.dk/videos/greenmobility-presentation-of-the-q3-2026-trading-statement
Focus is expected to be on the operational drivers behind the quarter. This includes the operation of the expanded fleet, the status of the platform migration, and the development in the Copenhagen taxi market. The guidance is maintained rather than narrowed with nine months delivered, leaving implied Q4 revenue growth of between around 3% and around 19%, so what separates the two ends of the range is also expected to be in focus, together with the ongoing share buyback programme and the WeRide partnership.
Disclaimer: HC Andersen Capital receives payment for a Digital IR subscription agreement. CEO of HC Andersen Capital, Tue Østergaard, owns shares and is the Chairman of the Board of GreenMobility. /Michael Friis Jørgensen, 08:20, 08/10-2026.