Freetrailer Group A/S Annual Report 2023-2024
Freetrailer is growing. For the financial year 2023/24, revenue has grown 41.0%, EBITDA has grown 136.1% and rentals has grown 40.8%.
High growth in revenue, operating profit and rentals
For the financial year, revenue totalled DKK 105.9 million which equals an increase of 41.0% compared to the same period last year.
The operating profit, EBITDA, reached DKK 19.2 million compared to DKK 8.1 million in the same period last year - an increase of DKK 11.1 million.
The positive development in the number of rentals continued throughout the financial year and the growth was 40.8% compared to 22/23. The total number of rentals in 23/24 was 1,278,166 compared to 907,874 in the previous financial year.
Growth in the rental portfolio
The rental portfolio increased by 1,241 products during the financial year, totalling 4,867 units at year-end.
As of 30 June 2024, Freetrailer has more than 275 rental products on order that are either in production or on their way.
Guidance 2024/2025
Freetrailer expects revenue of DKK 118 - 128 million in the financial year 2024/2025.
Freetrailer expects an EBITDA of DKK 20 - 24 million in the financial year 2024/2025.
Comment from the CEO
"In the financial year 23/24, Freetrailer delivered a turnover of DKK 105.9 million, a growth of 41.0% compared to the financial year of 22/23. A result that far exceeded our own expectations. The strong finish to the year means that we can present a result better than our expectations.
Freetrailer has made a strong start to the 2024/25 financial year. In July we set a new rental record with 154,760 rentals (114,041 rentals in July 2023) and for the period July to September 2024, we are looking at an increase in rentals of around 30% compared to the same period in 2023.
With the signing of a multi-year agreement in September 2024 with our partner SILVAN, we are very optimistic about the 2024/25 financial year," says Nicolai Frisch Erichsen, CEO of Freetrailer.
Freetrailer Group A/S reports for the full financial year from 1 July 2023 to 30 June 2024.
FULL YEAR GROUP KEY FIGURES IN DKK 1,000 (1 July 2023 - 30 June 2024)
(in parentheses is the corresponding period last year)
- Net sales 105,926.7 (75,104.8)
- EBITDA 19,155.5 (8,113.9)
- Profit before tax 15,619.6 (5,654.2)
- Profit after tax 11,956.7 (4,174.7)
- Equity 42,017.4 (29,669.0)
- EPS (Earnings Per Share) 1.25 (0.44)
- Equity ratio 64.2% (64.9%)
For more information about Freetrailer Group A/S please contact:
Nicolai Frisch Erichsen, Group CEO
E-mail: nicolai.frisch@freetrailer.com
Phone: +45 26 81 81 28
Briefly about Freetrailer Group A/S
Freetrailer Group is a Danish technology company whose mission is to make it easy to book and borrow a trailer for free via a sharing economy IT-platform.
With a 100% self-service solution via the Freetrailer App and the electronic lock, Freetrailer partners and their customers achieve maximum flexibility. Today, the app has over 500,000 active users annually.
Freetrailer is working with a two-part growth plan, where strengthening existing domestic markets is one leg and further internationalisation of the concept is the other.
Facts:
+150 partners
+1,220 pick-up locations
+4,860 trailers
+1,270,000 rentals
Today, Freetrailer Group has a scalable business concept based on an innovative IT platform with global potential. Freetrailer Group A/S was listed on Spotlight Stock Market in 2018.
Ticker code: FREETR