Move About Group (MOV) reports Q4 and year-end figures for 2021: Strong growth in income and users

The year ended with an all-time-high growth in income of 89,3% for the group including Mobileeee full year and an increase of 139% Q4 2021 alone. Each country individually demonstrated strong growth in revenue.

The trends from 2020 have continued during the year with strong growth Quarter on Quarter since Q1 2021. Jan.-Dec. 2021 and ended with an all-time high income of SEK 57,1 million vs. SEK 30,2 million from Jan.-Dec. 2020, resulting in a total of 143.078 (111.139) bookings and 4.993.795 (4.103.538) km driven.

EBITDA is impacted by one-off cost for making the group IPO ready and show a negative development that ended with a negative SEK 26,2 million. Adjusted EBITDA shows a negative SEK 16,1 million, which is down SEK 17,6 million compared with 2020. This is mainly due to building a new organization, new management systems and new pools. The company has at the same time been able to grow its business alongside the listing process securing new customers particularly municipalities in Sweden, Norway, and Germany.

Move About Group CEO Morten von Krogh says: “2021 has been a very successful year for the group, delivering on the strategy. The listing of the company has been both rewarding and demanding. We have built a whole new organizational structure both legal structure and operational structure. Key functions have been strengthened with new talent that will have a stronger impact on our growth going forward. The group has never been more ready or able to meet the market with a potential package made for scaling our business in our markets and beyond”.

Note: The full report is available at the Company’s website.

English version: https://moveaboutgroup.com/wp-content/uploads/2022/03/Interim-Report-for-Q4-2021-_Engelsk_-High.pdf

Swedish version: https://moveaboutgroup.com/wp-content/uploads/2022/03/Interim-Report-for-Q4-2021-_Svensk_High.pdf

Also published on www.beQuoted.com

Image


For additional information

Morten von Krogh, CEO, Move About
morten.von.krogh@moveaboutgroup.com
+47 971 94 931

Certified Adviser

Mangold Fondkommission AB is the Company’s Certified Adviser and can be reached by phone, 08-5030 1550, and via e-mail, ca@mangold.se.

This information is information that Move About Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08.00 on 29 March 2022.

Move About Group AB in brief

Move About offers app-based, environment friendly, and cost-efficient mobility solutions to individuals, businesses, municipalities, and organizations. The Company has developed and owns all immaterial rights to the cloud-based green tech platform which gives digital access to electric cars, electric bikes, taxi, subway, and parking, all through the same app – around the clock. Every kilometer the user travels with the electric cars via the platform reduces CO2 emissions.

The Company’s extensive mobility solutions is built upon the Move About-app which gives the user access to the Company’s pools of electric cars, bikes, and scooters. Move About also assists companies, municipalities, and organizations to optimize their vehicle fleets by tailoring mobility solutions based on needs.

Move About was founded in Oslo, Norway, 2007 and has over 58,500 users today on their platform, and over 730 electric cars in the Company’s vehicle fleet with presence in Sweden, Norway, and Germany.