Q3 Interim Report Final
Movinn Q3 2026: Fewer units, stronger earnings
Company Announcement no. 88/2026 (November 13, 2026)
Today, Movinn publishes its Interim Report for Q3 2026. With 16.7% fewer units than a year ago, Movinn grew EBITDA by 53% to DKK 2.4 million and lifted the EBITDA margin to 10.6% from 6.2%. Net revenue was DKK 23.1 million against DKK 25.6 million in Q3 2025. Q3 is the second consecutive quarter with positive EBITDA and EBIT.
FInancial highlights (DKK ‘000)
| Q3 2026 | Q3 2025 | Change (%) | YTD 2026 | |
| Net revenue | 23,119 | 25,625 | (9.8%) | 64,930 |
| EBIITDA | 2,442 | 1,592 | 53.4% | 1,238 |
| EBIT | 1,788 | 316 | 466% | (729) |
Key developments in Q3
- Net revenue fell 9.8%, against a 16.7% reduction in the number of units.
- Revenue per unit rose 8.3% to tDKK 254 annualised.
- Average vacancy fell to 13.2% from 18.2%.
- Costs declined more than revenue: cost of sales by 14.3% and staff costs by 11.4%.
- Profit for the period was DKK 1.5 million against tDKK 32 in Q3 2025.
Year-to-date, EBITDA was DKK 1.2 million against DKK (0.1) million in 2025, and EBIT was DKK (0.7) million against DKK (3.9) million.
A more focused portfolio
Movinn completed the exits from Odense and Västerås in Q3 and ended the quarter with 364 units. In Copenhagen, 10 underperforming units will be returned at the end of Q4 2026 and a further 10 during H1 2027. New capacity will be added in Copenhagen only.
Liquidity
Cash flow from operating activities was DKK 0.4 million against DKK 3.1 million in Q3 2025. The difference is mainly timing-related and driven by a negative change in net working capital of DKK 1.7 million, primarily higher trade receivables and prepaid costs. Before changes in working capital, cash flow from operations rose 62.5% to DKK 2.1 million, reflecting the improvement in underlying earnings.
Movinn is strengthening its debtor management and expects this to have a positive impact on operating cash flow in the coming quarters. At 30 September 2026, Movinn had drawn DKK 4.3 million of its DKK 10 million credit facility, leaving DKK 5.7 million in immediately accessible liquidity, up from DKK 5.2 million at 30 June 2026.
Financial guidance 2026
The guidance raised on 11 November 2026 (company announcement no. 86) is unchanged: net revenue of DKK 85.5-86.5 million, EBITDA of DKK 1.5-2.5 million and EBIT of DKK (1.1)-(0.1) million. This implies Q4 EBITDA of DKK 0.3-1.3 million, reflecting seasonality.
CEO Patrick Blok comments:
“This quarter, our focus started to show in the numbers. We run a smaller portfolio than a year ago, but we earn more on it. In August, we had to lower our guidance. Three months later we could raise it again, and that tells us the plan is moving faster than we expected. For the rest of the year, we will keep improving our sales effort, reduce complexity in our organisation and build the foundation for a profitable 2027.”
Presentation of the Interim Report
Movinn is hosting a webinar, presenting the Q3 Interim Report on:
Wednesday 18 November 2026 at 13:00 CEO.
For registration, click here.