15:58:54 Europe / Stockholm
2022-04-05 17:00:00
  • Soft launch in Malmö completed and launch in Germany being planned
  • Revenues higher than expected
  • We maintain our valuation interval of DKK 11.00 – 14.10 per share

Movinn’s annual report for 2021 showcased revenues above and EBIT in line with our expectations. Compared to the pandemic-ridden year of 2020, the company’s revenue grew almost 56 percent as the effects of the Covid-19 pandemic subsided during H2 ’21. In addition to completing a soft launch in Malmö, the company is planning a coming launch in Germany and potentially a launch in a new Danish city. 2022 has started off well with 60 percent of the pipeline for the year being secured and Collective Yoyo set to launch in Q2 ’22. We make minor adjustments to our model and maintain our valuation interval of DKK 11.00 – 14.10 per share.

The full report is available here.