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Donkey Republic achieves record high quarterly revenue due to start of subsidized operations and strong summer season

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Company announcement No 16 - 2022

Key Performance Indicators Q3 2022

• Expanding and bringing more competence to the management team.
The Board of Directors has decided to bring in new management competencies to strengthen and
professionalize the company further and has therefore appointed Niels Henrik Rasmussen as new
CEO. While Erdem Ovacik, staying in the company in an active role as an Executive Board Member.
The executive management team will further be strengthened with Morten Nybye-Petersen, who
will join as the COO of Donkey Republic in November this year.

• Total revenue is EUR 3.8m in Q3 up 83% from 2021 Q3.
With the start of the two main subsidized operations in Antwerp (Belgium) and Turku (Finland)
the MaaS revenue in B2G and B2B increased more than seven folds compared to last year
(+727% vs. Q3 2021). Throughout the summer the positive trend of increasing rider activity
continued and led to a revenue growth within the MaaS rider segment (+27% vs. Q3 2021). With the
first bike deliveries of the new models to partners, the SaaS business is picking up (license revenue
+25% vs. Q3 2021 and hardware revenue +611% vs Q3 2021).

• First large scale deliveries of new bike generation started over the summer, but the majority
of bikes planned to be deployed in Q4.

More than 1.1k of the newest generation of pedal bikes and e-bikes were delivered to both our own
operations and to our partners throughout Q3. This addition has compensated bike retirements of
this year so far, so that the fleet is on the same level as last year. For the rest of the year continuous
deployment of bikes, especially within our own operations, are planned.

• Rider activity continues to increase and was on a record level in Q3 2022.
Number of riders continues to increase to 172k (+29% vs. Q3 2021) and the number of trips reached
almost 1.7 million in the last three month (+17% vs. Q3 2021).

• New product features.
Strong focus on improving first time rider experience has proven successful. Moreover, users are
now able to add extra vehicles during a rental.

KEY PERFORMANCE INDICATORS Q3 2022 (01. July - 30. September 2022)

Metric Total for Q3 2022 Year on year growth compared to Q3 2021
Total Revenue1 EUR 3.8m  ⬆83%
Users2 172k ⬆29%
Trips3 1,686k ⬆17%
Fleet size (active bikes) 13.7k ⬆1% 
CO2 savings 213 ton ⬆14%

1 Total revenue are unaudited figures 2 Users with a minimum of one rental 3 Trips are defined from when bike is unlocked to locked again

The 1,686k trips taken with an average of 3 km per trip on Donkey Republic bikes in Q3 2022 correspond to total positive impact of:

4.3m € in health benefits
213 Tons in CO2 savings
215k € in congestion savings

Date: October 7th
Time: 10.30-10.55
CLICK HERE TO REGISTER: Meeting Registration - Zoom

Program 07.10 at 10.30-10.55hrs:
• Introduction from Donkey Republic (5 min)
• Highlights for Q3 2022 (10 min)
• Q&A (10 min)


DonkeyRepublic Holding A/S

Skelbækgade 4, trappe B, 4. sal.
1717 København V

Mail: investor@donkeyrepublic.com 
Investor website: www.invest.donkey.bike  

Financial and Certified Adviser:
Clearwater International
Andreas Lauth Lauridsen
Dampfærgevej 8, 1. floor
DK-2100 Copenhagen

Donkey Republic is one of Europe's leading providers of end-to-end bike-sharing solutions providing both pedal- and e-bikes. The company is to running 13k bikes and ebikes across 24 cities and 14 countries, and expecting to grow its fleet to above 20k in the next 6 months. Based on its proprietary software, Donkey Republic offers cities and local partners a fully integrated turn-key solution, including software critical to all stakeholders, bikes, operations, and support services. The company provides affordable and sustainable mobility for the masses by partnering with cities to turn bikes into the hero of urban transportation and has a vision of making city life better for everyone with affordable and responsible bike-sharing


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