Updated forecast for 2024
Cabonline Group Holding AB today publishes an updated forecast for the full year 2024.
2024 is a transitional year for the company, which is working on several measures to increase turnover and operational efficiency. To ensure long-term growth and competitiveness, Cabonline is making significant investments in digital development, not least a new booking and traffic management system. This has already been implemented in several locations in Sweden, and the roll-out will continue throughout the year. Cabonline is also working on improving conditions for transporters and drivers through lower fees. In addition, cost efficiency measures will improve profitability, which is why the company looks forward to an improvement in profitability by the end of the year. Combined with challenging market conditions so far this year, this has led Cabonline to estimate that for the full year 2024, gross revenue will be approximately SEK 4.9 billion with an adjusted EBITDA of approximately SEK 200 million and investments of approximately SEK 90 million.
"I am delighted that the rollout of our new technology platform has begun and look forward to all the benefits that this, together with other improvements, will create for customers, transporters, drivers, and the company," says Charlotta Söderlund, President and CEO of Cabonline.
For further information, please contact:
Charlotta Söderlund, acting VD, tel +46 70 453 77 70, charlotta.weigel@cabonline.com
Erik Skånsberg, CFO, tel +46 79 062 38 84, erik.skansberg@cabonline.com
This information is information that Cabonline Group Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:30 CET on June 20, 2024.
About Cabonline Group:
Cabonline is the leading taxi company in the Nordic region, with ~2,200 connected transporters and ~4,100 vehicles in Sweden, Norway, Finland and Denmark. Cabonline operates a series of well-known brands, such as TaxiKurir, Taxi Skåne, Umeå Taxi, Sverigetaxi, TOPCAB, Norgestaxi, Kovanen, Fixu Taxi and Flygtaxi. Through Cabonline, transporters can access attractive customer agreements, support from industry-leading technology and efficient services where shared infrastructure delivers economies of scale. In 2023, Cabonline’s revenue was approximately SEK 5.6 billion. For further information: cabonlinegroup.com/en