Donkey Republic realizes a positive EBITDA and 114% YoY revenue growth in Q2-2023.

Company announcement No. 20 - 2023

• Positive EBITDA of 6.2M DKK in Q2-2023 (+17.0M DKK from Q2-2022) is a strong testimony to the
focus on profitability of Donkey Republic in 2023.
The strong performance in Q2, has secured a positive EBITDA in H1 of 1.6M DKK, which is the first time
Donkey Republic reports a positive EBITDA for a half year period. This is especially remarkable as H1 is
due to seasonality normally less profitable than the second half of the year. The drivers for the improved
EBITDA performance are,
  - Better utilization of the fleet, coming from higher revenue per bike, without significantly increasing cost
of operation.
  - The completed ramp up of subsidized deals securing recurring revenue with stable cost.
  - In May 2023 the company carried out cost reductions measures within HQ, which will further support
the profitability of the company in the second half year.
The company sees itself therefore well on track to achieve its full year guidance of a positive EBITDA of 9.0M
to 10.5M DKK.

• With 33.8M DKK in Q2-2023 Donkey Republic more than doubled its revenue compared to last year
(up 114% from Q2-2022).
The growth is driven by two factors,
  - Increased revenue per bike, a better utilization of the fleet, but also the fully ramped up subsidized
operations in Antwerp, Turku and KielRegion lead to higher revenue generation per bike compared to
last year (+33% vs. Q2 2022).
  - Larger fleet; almost all bikes that were ordered after the IPO in 2021 have now been deployed on the
streets, this means an increase of 61% compared to Q2 last year or 7,300 additional bikes.
This shows the company’s ability to successfully onboard new major cities with long term contracts without
compromising performance of its existing operation.

Events after Q2-2023

• Private placement of 18.6M DKK - supporting the onboarding of new operations and future growth
of the company.
The company successfully carried out a private placement on the 25th of July securing the company
18.6M DKK in gross proceeds. As stated in the company announcement No. 17 the money raised is aimed
primarily to support the growth of the company in terms of onboarding new long term contracts.
 

KEY PERFORMANCE INDICATORS Q2-2023 (01. April 2023 - 30. June 2023)

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.