GreenMobility: 2022 guidance downgrade, departure of the CEO, and a strategy change
This morning, GreenMobility announced a downward revision of 2022 guidance, the departure of the CEO, and a strategy change.
The 2022 revenue is now expected to be in the range of DKK 95-100m (previously DKK 100-110m) and the result is now expected to be between DKK -80m to -75m (prev. DKK -70m to -60m).
Weaker consumer spending is driving down the top line, and higher electricity costs are driving the bigger loss than previously expected. On the back of this downward guidance revision and the current market condition, the company now opens for a strategy change in the short run that might include possible closing or adjustments in the existing loss-making markets.
This indicates a change from a focus on growth to now profitability and cash management. In connection with that, the current CEO will leave the company, and the current CFO Anders Wall will take over as acting CEO immediately.
Disclaimer: CEO of HC Andersen Capital Tue Østergaard owns shares and is the Chairman of the Board in GreenMobility. HC Andersen Capital receives payment from GreenMobility for a Digital IR/Corporate Visibility subscription agreement./Michael Friis, 09:52 11/11-2022.
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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