Donkey Republic is awarded long term contract in Hannover and expands foothold in the strategic German growth market
Company Announcement no. 25-2023
*Contains insider information*
Donkey Republic is awarded a contract by the GVH – Großraum-Verkehr Hannover GmbH to operate a bike share system with a minimum total contract value of approx. 8.8M DKK (1.2M EUR) for a 3 year duration with the potential of further extensions of 2 year periods.
The minimum total contract value is 8.8M DKK (1.2M EUR) consisting of 1,000 pedal bikes. In addition, Donkey Republic will collect the rider revenue, potential proceeds from sponsoring deals and other corporate partners.
The contract is a result of executing the company’s B2G (business-to-government) driven strategy to secure sustainable long term contracts that support the pursuit of profitable growth. This contract is of strategic importance as Germany is a core focus market and significant future growth driver for the company. With the Hannover contract, Donkey Republic expands its presence in Germany further south by adding to its portfolio of current operations in the Kiel Region and Schleswig/Flensburg in the Northern part of Germany.
CEO, Niels Henrik Rasmussen comments “We are very pleased to have been awarded this contract which is strategically important as it increases our foothold in Germany - a market we see a lot of potential in. We look forward to becoming a city partner to help improve urban and green living for citizens in Hannover.”
Contract highlights
- Duration: 3 year minimum + 2 year extension(s)
- Minimum total contract value: 8.8M DKK (1.2M EUR)
- Launch: Q2 2024
- Contracting authority: GVH – Großraum-Verkehr Hannover GmbH
The contract does not impact guidance for 2023 or 2024.
CONTACT INFORMATION
DonkeyRepublic Holding A/S
Skelbækgade 4, trappe B, 4. sal.
1717 København V
www.invest.donkey.bike
Niels Henrik Rasmussen, CEO
investor@donkeyrepublic.com
Certified Adviser
Grant Thornton Denmark,
Direct (+45) 35 27 50 11
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https://invest.donkey.bike/donkey-republic-company-news/
About Donkey Republic
Founded in 2014, Donkey Republic is a Danish purpose driven impact company active in the micro mobility industry. Donkey Republic provides a flexible, affordable and more sustainable way of transportation to the citizens by partnering with the cities.
Donkey Republic is a data driven technology company facilitating bike sharing, and we are able to provide cities and citizens a reliable bike sharing service. Sustainably at its core integrates with the city’s public transportation system, by pursuing innovation Donkey Republic develops end-to-end products and services that solve city and riders problems. Riders are able to enjoy a more convenient and high quality ride, with our bike and ebike fleet, designed for durability and optimal maintenance through our servicing software platform. This collaborative dedicated software solution together with our bikes, seeks to improve people's health & well-being, the environment, reducing traffic congestion across cities as well as public space optimisation.
Donkey Republic is a publicly traded company listed on the Nasdaq First North Growth Market. The company was listed in 2021 to onboard investors and support its growth and expansion into the European Market, and to continue securing its foothold and developing its market position in the European Micro mobility space. With thousands of Donkey bikes successfully implemented, Donkey Republic aims to grow its business and fulfill its vision of making urban city life quality better through responsible bike sharing