Donkey Republic realises 125% year-on-year revenue growth in Q1-2023 compared to Q1-2022.

Company announcement No. 12 - 2023

With 17.3M DKK of revenue in Q1-2023 (up 125% from Q1-2022) Donkey Republic realises strong revenue growth.

Main growth driver are the ramped-up and subsidized operations in Antwerp and Kiel Region. Additionally, a larger bike fleet across many cities further had a positive impact on the revenue in Q1-2023 compared to the same period last year.

• EBITDA improvement of 51% in Q1-2023 vs. Q1-2022.
Positive development is due to higher revenue and also due to lower than expected penalty for late deliveries of bikes.

• Bike fleet renewed and increased by 50% vs. Q1-2022 (share of ebikes increased to 15%).
The newest generation of pedal bikes and e-bikes were delivered to both our own operations and to our partners already throughout Q4-2022. The share of ebikes increased from 5% in Q1-2022 to 15% in Q1-2023.

Revised strategy disclosed in April 2023 aiming at positive EBT 

• Donkey Republic announced positive EBT guidance for 2024.
As a consequence of working on a revisement of the strategy from growth-driven towards consolidated growth at sustainable margins, on 19 April 2023 Donkey Republic announced to aim at positive EBT by the end of 2024. The core of the strategic revisement is a tune down of growth investments to consolidate core markets through better utilization of existing fleet and reduce HQ costs (see company announcement No. 08-2023) as well as securing funding through a private placement and restructuring of existing loans.

• Donkey Republic carried out a private placement
In April 2023 DonkeyRepublic carried out private placement of new shares at a subscription price of DKK 5.73 per share, raising gross proceeds of EUR 11.6M DKK.

KEY PERFORMANCE INDICATORS Q1-2023 (01. January 2023 - 31. March 2023)

JOIN OUR Q1 2023 KPI REPORT WEBINAR
Date: April 28th
Time: 11.00-11.30
JOIN THE WEBINAR

Donkey Republic invites you to an online webinar presentation of our Quarterly KPI report for Q1-2023.
Program 28.04 at 11.00-11.30hrs:

• Introduction and highlights from Donkey Republic
• Financial highlights for Q1-2023
• Q&A
• Thank you for today!

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

Subscribe to the company announcements at:
https://invest.donkey.bike/donkey-republic-company-news/

Financial and Certified Adviser:
Clearwater International
Andreas Lauth Lauridsen
Dampfærgevej 8, 1. floor
DK-2100 Copenhagen
certified.adviser@cwicf.com
www.clearwaterinternational.com/dk

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.