Donkey Republic records revenue of DKK 20.6M in Q1-2024, showing a solid revenue growth of 19%, positive EBITDA trends and reaffirmation of 2024 guidance

Company Announcement No. 8 - 2024

Revenue
Rider revenue growth in Q1-2024 aligns with expectations and guidance. This growth is fueled by both a larger fleet and higher revenue per bike, and is further bolstered by an expanding portfolio of city contracts compared to Q1-2023.

EBITDA
EBITDA in Q1-2024 outperformed Q1-2023 by DKK 0.7M if a one-time benefit in Q1-2023 is excluded, this effect is from a lower-than-expected penalty resolution on delayed bike deliveries in Q1-2023. The improvement is due to strong revenue growth that has more than offset any fixed cost increases over the last year.

Guidance
Positive Q1-2024 results support our previously issued 2024 guidance:

Revenue of DKK 135M to 160M 
EBITDA of DKK 15M to 30M
EBIT of DKK 0 to 5M

Events after the period

Donkey republic completed an oversubscribed private placement of DKK 22.4M in April 2024
This private placement was supported by existing investors including EIFO and Bankinvest. The successful private placement is testament to the existing investors’ continued commitment to the company’s strategy to achieve growth at sustainable margins. The private placement is carried out after a successful 2023 with the pursuit of positive EBIT of DKK 0M-5M in 2024.

Completing a capital raise aligns with the company’s strategic goals outlined in the 2023 annual report, where it signaled intentions to explore capital-raising opportunities to bolster B2G growth initiatives through long-term contracts with cities beyond 2024. The newly secured funds are intended to strengthen the company’s balance sheet, positioning it to capitalize swiftly on market opportunities that are expected to drive growth in 2025 and beyond through healthy long term contracts with cities.

KEY PERFORMANCE INDICATORS Q1-2024 (01 January 2024 - 31 March 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

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

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