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Q1 Interim Report
Prenumeration
Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Denmark |
| Sektor | Fastigheter |
| Industri | Förvaltning |
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Company Announcement no. 82/2026 (May 08, 2026 at 08:00:00 CEST)
Today, Movinn publishes its Interim Report for Q1 2026. Revenue declined by 2.9% as a result of the planned portfolio reduction, while EBITDA and EBIT improved 22.3% and 29.2% year-on-year. Full-year guidance for 2026 is maintained.
Financial highlights (DKK '000)
| Q1 2026 | Q1 2025 | Change (%) | |
| Net revenue | 19,796 | 20,384 | (2.9)% |
| EBITDA | (2,017) | (2,597) | 22.3% |
| EBIT | (2,674) | (3,777) | 29.2% |
A quarter that reflects the strategy
Net revenue came in at DKK 19.8 million, down 2.9% from DKK 20.4 million in Q1 2025. The decline is fully explained by the deliberate reduction in units over the past year, driven by the exit from Odense and the scaling down of other secondary and underperforming markets. The exit from Odense is expected to be fully completed by the end of Q3 2026.
While the portfolio declined by 13% in number of units, total revenue declined by less than 3%. Revenue per unit grew by 11% year-on-year to tDKK 195 (annualized), reflecting the quality of the remaining portfolio after removing the markets that have been weighing on results. EBITDA improved by 22% and EBIT by 29% compared to Q1 2025.
A more concentrated portfolio
Movinn now operates 406 active units, more concentrated in larger markets where demand is stable and margins are higher. In Q1 2026, Movinn began onboarding a new property in the Copenhagen area with 10 newly renovated units, expected to be fully operational by the end of Q2 2026. Copenhagen remains the largest market and the primary driver of profitability and, together with Malmö, forms the core of Movinn's presence in the Øresund Region.
Liquidity
At the end of Q1 2026, Movinn had drawn DKK 5.1 million of its DKK 10 million credit facility, leaving DKK 4.9 million in immediately accessible liquidity as of 31 March 2026.
Full-year guidance for 2026 maintained
Based on the results for Q1 2026, Movinn maintains its full-year guidance for 2026:
Revenue: DKK 86.0 – 89.0 million
EBITDA: DKK 1.0 – 4.0 million
EBIT: DKK (1.5) – 1.5 million
The financial outlook reflects a year of execution and transition following a challenging 2025, with a strong focus on improving margins and preparing the company for the opening of the Copenhagen aparthotel in mid-2027.
CEO Patrick Blok comments:
"Q1 confirms that the portfolio decisions we are making are starting to pay off. Margins and revenue per unit are moving in the right direction, and the business is more focused than it has been in years. We are not profitable yet, and we have no intention of declaring victory before the numbers are there, but the trajectory is clear, and we will keep executing quarter by quarter."