- Higher revenue than expected
- Set for Malmö launch in Q2
- We maintain our valuation interval of DKK 11.00 – 14.10 per share
Movinn’s report for the first quarter of 2022 showcased a stronger revenue and a higher number of units than expected. Despite Q1 historically being a weak quarter, almost 75 percent of 2022 year’s pipeline is secured already. Furthermore, the company is set to launch in Malmö during Q2 with expansions into Germany and a new Danish city being considered. The company continues to grow in line with expectations and we therefore maintain our valuation interval.
The full report is available here.