IN TERIM REPO RT FO R
H
1
-
2
0
25
t h
f l o o r
C V R n o
. :
D K 3 5 5 2
Page 1 of 9
H1-2025: 29% revenue growth, EBITDA up 76%, Net profit of DKK
5.9
million.
In the first half of 2025, GreenMobility demonstrated robust financial performance, underscoring the
company’s strong strategic execution.
Revenue grew by 29% year-over-year, EBITDA improved by 76%, and net profit reached DKK 5.9 million.
Building on last year’s strategic focus on the Danish market, continued streamlining of operations,
disciplined cost management and data-driven marketing efforts have lifted both customer numbers,
revenue and earnings to an all-time high.
As mentioned in company announcement 171 on July 8th, 2025, our updated guidance is as follows:
•
Revenue growth: 10–13 % vs. FY2024 (from 7-13%)
•
EBITDA growth: 25–40 % vs. FY2024 (from 20-40%)
H1-2025 Financial Results compared to H1-2024:
•
Revenue increased by 29% to DKK 74.2 million (DKK 57.4 million in H1-2024*)
•
EBITDA increased by 76% to DKK 24.1 million (DKK 13.7 million in H1-2024*)
•
Net profit amounts to DKK 5.9 million (DKK -1.0 million in H1-2024*)
•
EBITDA margin was 32,5% (23,8% in H1-2024*)
* from continuing operations.
Other information
As announced in Company Announcement no. 172 – 2025, the Court of Antwerp has dismissed the minority
shareholders’ claim against GreenMobility Belgium NV, fully ruling in the company’s favour. While the
minority shareholders have a right to appeal, GreenMobility A/S maintains the position that the claim
remains completely unfounded.
As communicated earlier, the Belgian company has initiated formal insolvency proceedings.
The ruling has no impact on GreenMobility’s financial guidance.
Outlook and liquidity
The balance sheet of GreenMobility continues to strengthen. We continue to bring down asset debt, which
over time will lead to lower operational costs. The operation is cash flow positive which enables
GreenMobility to continue to invest in customer experience. We expect to be able to lower our financial cost
further.
Page 2 of 9
In July 2025 GreenMobility has secured a bank facility. This, combined with a strong positive cashflow,
ensures that GreenMobility has sufficient cash to drive the strategy forward.
Significant risks and uncertainty
GreenMobility continuously monitor possible increase in cost related to its operational business, specifically
increase in interest rates and price development on the used car market, of which GreenMobility is exposed
to both. Additionally, the general development on operational related cost such as electricity, spare parts
and other general elements which is tied to the operational business.
Page 3 of 9
Income
Statement
Note
2025 H1
DKK’000
2024 H1
DKK’000
2025 Q2
DKK’000
2024 Q2
DKK’000
Revenue
2
Other operating income
3
External
Expenses
(38.457 )
(31.155 )
(18.835 )
(17.044 )
Gross
profit/loss
Staff
costs
(12.536 )
(12.563 )
(5.947 )
(6.335 )
EBITDA
Amortisation & depreciation
(13.960 )
(9.350 )
(6.968 )
(5.378 )
Operating
profit/loss
Financial
expenses
(4.228 )
(5.262 )
(2.000 )
(2.763 )
Profit/loss before tax
Tax on profit/loss for the period
Profit/loss - continuing operations
Profit/loss for the period discontinued
operations
4
(23.403 )
(12.406)
Profit/loss for the period
Distribution of profit/loss
Shareholders of GreenMobility A/S
Minority
Interests
(1.684 )
(767 )
Proposed distribution of profit/loss
Basic earnings per share – continuing
(0,18 )
operations
Diluted earnings per share – continuing
(0,17 )
operations
Basic earnings per share
(4,56 )
(1,99 )
Diluted earnings per share
(4,38 )
(1,91 )
Average number of shares
Statement of comprehensive income
2025 H1
DKK’000
2024 H1
DKK’000
2025 Q2
DKK’000
2024 Q2
DKK’000
Profit/loss
(24.364 ) 8.204 (10.652 )
Other comprehensive income
Comprehensive income
(24.364 )
(10.652 )
Distribution of profit/loss
Shareholders of GreenMobility A/S
(22.680 )
(9.885 )
Minority
Interests
(1.684 )
(767 )
(24.364 )
(10.652 )
(22.680 )
(9.885 )
(24.364 )
(10.652 )
(961 )
(10.652 )
(12.406 ) (12.406)
Page 4 of 9
Balance
Sheet
Assets
30.06.2025 31.12.2024
DKK’000
DKK’000
Software
Land and buildings
Cars
Deferred tax asset
Deposits
Non-current assets
Inventories
Trade receivables
Other receivables
Prepayments and accrued income
Cash at bank and in hand
Current
assets
Assets
Liabilities
30.06.2025 31.12.2024
DKK’000
DKK’000
Share capital
Retained
earnings
Currency
(2.703 )
(2.703 )
Equity GreenMobility A/S
Equity Minority interest
Total
equity
Lease
liabilities
Loan
Non-current Liabilities
Lease
liabilities
Loan
Trade payables
Other payables
Current
Liabilities
Liabilities
Equity and liabilities
Contingent
liabilities
5
Page 5 of 9
capital increase
Statement of changes in equity
Share
capital
Retained
earnings
Currency
reserves
Share-
holders of
Green
Mobility
A/S
Minority
interests
Equity
Total
DKK’000
DKK’000
DKK’000
DKK’000
DKK’000
DKK’000
Equity 01.01.2024 2.135 16.632 (2.703 ) 16.064 (5.837 ) 10.227
Profit/loss
(17.324 )
(17.324 )
(17.324 )
Other comprehensive
income
Transfers
(5.837 )
(5.837 )
Capital increase 232 14.838 0 15.070 0 15.070
Expenses related to
(928 )
(928 )
(928 )
Share based
(743 )
(743 )
(743 )
payment cost
Equity 31.12.2024 2.367 6.638 (2.703 ) 6.302 0 6.302
Equity 01.01.2025 2.367 6.638 (2.703 ) 6.302 0 6.302
Profit/loss
Other
comprehensive
income
Share based
payment cost
Equity 30.06.2025 2.367 12.527 (2.703 ) 12.191 0 12.191
Page 6 of 9
Cash Flow Statement
2025 H1
2024 H1
DKK’000
DKK’000
Operating
profit/loss
Amortisation, depreciation and
impairment
losses
Working capital changes
(4.047 )
(3.275 )
Other non-cash operating activities
(526 )
Cash flow from continuing operations
Cash flow from discontinued operations
(6.424 )
Cash flow from operating activities
Cars
sold
Deposits change
(147 )
Cash flow from investing activities
Financial expenses paid
(4.236 )
(7.745 )
Lease payments
(10.804 )
(9.439 )
Payment on loans
(5.768 )
(9.434 )
Capital Increase
Cashflow from financing, continuing operations
(20.808 )
(26.583 )
Cashflow from financing, discontinued operations
6
(3.290 )
Cashflow from financing
(20.808 )
(29.873 )
Increase/decrease in cash and cash equivalents
(1.251 )
(24.244 )
Cash and cash equivalents beginning
Cash and cash equivalents closing
Page 7 of 9
Notes
1. Summary of significant accounting policies
The interim financial statements of GreenMobility A/S are presented as a summary in accordance with IAS
34, Interim Financial Reporting, as approved by the EU and additional disclosure requirements for listed
companies.
The interim financial statements do not contain all notes from the annual report. This report should
therefore be read in the context of the latest annual report and other company announcements published
in during this fiscal year. The interim financial statements have not been audited or reviewed.
No interim financial statements have been prepared for the parent company. The interim financial
statements are presented in Danish kroner (DKK), which is the parent company's functional currency.
The interim financial statement is reported as a condensed financial statement in accordance with IAS 34.
Consolidation
The consolidated financial statements are prepared based on financial statements for GreenMobility A/S
and its subsidiaries. The consolidated financial statements are prepared by aggregating accounting items of
a uniform nature. The accounts used for consolidation are prepared in accordance with the group's
accounting policies. Consolidation eliminates intra-group income and expenses, internal balances, and
dividends as well as gains and losses on transactions between the consolidated companies. The subsidiaries'
accounting items are recognized 100% in the consolidated financial statements.
Minority
interests
On initial recognition, minority interests are measured either at fair value or at their proportionate share of
the fair value of the acquired company's identifiable assets, liabilities, and contingent liabilities. The choice of
method is made for each individual transaction. The minority interests are subsequently regulated for their
proportionate share of changes in the subsidiary's equity. The total income is allocated to the minority
interests, regardless of whether the minority interest thereby becomes negative.
2. Segmentation
2025 H1
DKK’000
2024 H1
DKK’000
2025 Q2
DKK’000
2024 Q2
DKK’000
Revenue from rental of cars
74.171
57.369
41.393
33.274
Total revenue
74.171
57.369
41.393
33.274
Denmark
74.171
57.369
41.393
33.274
Total revenue
74.171
57.369
41.393
33.274
Page 8 of 9
3. Other operating income
2025 H1
DKK’000
2024 H1
DKK’000
2025 Q2
DKK’000
2024 Q2
DKK’000
Non-recurring operating grants
899
0
561
0
Other operating income
899
0
561
0
4.
Discontinued operations
Following the Company Announcement 146 from 12 March 2024, GreenMobility has decided to close or sell
its operations in Belgium with the intention to focus all resources on the Danish market. In 2023
GreenMobility announced the closing of Sweden, Germany, Finland and The Netherlands and thus all
markets outside Denmark are treated as discontinued, as specified here.
The cars and associated liabilities in the discontinued operations has been transferred to the continued
operations.
2025 H1
DKK’000
2024 H1
DKK’000
2025 Q2
DKK’000
2024 Q2
DKK’000
Revenue
0
5.855
0
966
Other operating income
0
0
External
expenses
0
(17.757)
0
(8.969)
Staff costs
0
(3.047)
0
(819)
Amortisation & depreciation
0
(5.971)
0
(2.268)
Operating profit/loss
0
(20.920)
0
(11.090)
Financial expenses
0
(2.483)
0
(1.316)
Profit/loss before tax
0
(23.403)
0
(12.406)
Tax on profit/loss
0
0
0
0
Profit/loss for the period
discontinued operations 0
(23.403)
0
(12.406)
5.
Contingent
liabilities
As announced in Company Announcement no. 172 – 2025, the Court of Antwerp has dismissed the minority
shareholders’ claim against GreenMobility Belgium NV, fully ruling in the company’s favour. While the
minority shareholders have a right to appeal, GreenMobility A/S maintains the position that the claim
remains completely unfounded.
6.
Cash flow from financing, discontinued operations
Cash flow from financing, discontinued operations is comprised of leasing payments for the fleet in the
discontinued operations until they have been moved to Denmark and been taken into active use.
7.
Events after the balance sheet date
No material events have occurred after the balance sheet date that impact these interim financial
statements.
Page 9 of 9
Executive
Management
Board of Directors
Forward looking statements
Matters discussed in this report may constitute forward-looking statements. Forward-looking statements
are statements that are not historical facts and that can be identified by words such as “aspirations”,
“believe”, “expect”, “anticipate”, “intends”, “estimate”, “will”, “may”, “continue”, “should”, and similar
expressions, as well as other statements regarding future events or prospects. Specifically, this report
includes information with respect to projections, estimates and targets that also constitute forward-
looking statements. The forward-looking statements in this report are based upon various assumptions,
many of which are based, in turn, upon further assumptions. Although the company believes that these
assumptions were reasonable when made, these assumptions are inherently subject to significant known
and unknown risks, uncertainties, contingencies, and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other
important factors could cause actual events to differ materially from the expectations, projections,
estimates, and targets expressed or implied in this report by such forward-looking statements. The
information, opinions and forward-looking statements contained in this report speak only as at its date
and are subject to change without notice. GreenMobility A/S expressly disclaims any obligation to update
or revise any forward-looking statements, except as required by law.