Movinn signs multi-year supplier agreement with large Danish corporation

A strategically important agreement to deliver corporate accommodation over a multi-year period in Denmark and Sweden.

Company Announcement nr. 47 - 2024
This company announcement contains inside information
8 May 2024 10.00 (CEST)

Copenhagen, Denmark - On May 8 at 9.35 CET Movinn has signed a multi-year supplier agreement with a large danish corporation ("Client") to deliver corporate accommodation in Denmark and Sweden. The general details of the agreement are confidential, meaning the Client will remain unnamed. Due to anticipated annual booking volumes, the Agreement falls under the Company's definition on inside information and is therefore disclosed to the market. 

Besides representing significant booking volumes, the Agreement is strategically important, as the Company have been working on strengthening relationships with key clients - existing and new ones - across several markets. With this agreement, the Company are able to strengthen demand while also working more strategically alongside the Client to deliver a strong product across existing and potentially new markets.

Patrick Blok, CEO, states: 
"I am happy with this Agreement and I am happy with the trust we have been shown by the client. The agreement spans over several years, has significant expected annual volumes and cover several markets. The agreement has a deeper, more structural importance as well. It brings us closer to a very important Client and stakeholder, meaning we can build a stronger, more stable supply chain and deliver more value. We also have the potenial to grow the relationship to other european markets as well. In the short run, however, we keep things simple with a tight focus on delivering a good quality product and service in existing markets. Then we will see where it goes from there." 
 

Contacts

Patrick Blok
CEO, Movinn A/S
pb@movinn.dk
+45 28940879

Certified Advisor
Per Lönn
Västra Hamnen Corporate Finance AB
ca@vhcorp.se
+46 40 200 250

About Movinn

Founded in October 2014, Movinn A/S has grown to become one of Denmark's leading providers of fully serviced apartments, operating within the PropTech industry and delivering space-as-a-service to mainly large domestic and international corporations and organizations. To stay at the forefront of trends in the real estate and serviced living industry - and to diversify activities - the company has created a house of brands that cover both traditional and emerging client segments.
Inhouse, the company has created a highly integrated value chain and comprehensive tech-products (several software platforms & IoT hardware) to help provide the best possible service and quality to the company's clients and to help scale profitable growth. Movinn has a strong presence in Denmark, covering Aarhus, Odense and Copenhagen (the latter being the largest and primary market), and the company is planning to expand its operations into new European destinations.

Movinn A/S has received approval for admission to trading of its shares on Nasdaq First North Growth Market Denmark under the ticker “MOVINN”.