Donkey Republic realises 125% year-on-year revenue growth in Q1-2023 compared to Q1-2022.
Company announcement No. 12 - 2023
With 17.3M DKK of revenue in Q1-2023 (up 125% from Q1-2022) Donkey Republic realises strong revenue growth.
Main growth driver are the ramped-up and subsidized operations in Antwerp and Kiel Region. Additionally, a larger bike fleet across many cities further had a positive impact on the revenue in Q1-2023 compared to the same period last year.
• EBITDA improvement of 51% in Q1-2023 vs. Q1-2022.
Positive development is due to higher revenue and also due to lower than expected penalty for late deliveries of bikes.
• Bike fleet renewed and increased by 50% vs. Q1-2022 (share of ebikes increased to 15%).
The newest generation of pedal bikes and e-bikes were delivered to both our own operations and to our partners already throughout Q4-2022. The share of ebikes increased from 5% in Q1-2022 to 15% in Q1-2023.
Revised strategy disclosed in April 2023 aiming at positive EBT
• Donkey Republic announced positive EBT guidance for 2024.
As a consequence of working on a revisement of the strategy from growth-driven towards consolidated growth at sustainable margins, on 19 April 2023 Donkey Republic announced to aim at positive EBT by the end of 2024. The core of the strategic revisement is a tune down of growth investments to consolidate core markets through better utilization of existing fleet and reduce HQ costs (see company announcement No. 08-2023) as well as securing funding through a private placement and restructuring of existing loans.
• Donkey Republic carried out a private placement
In April 2023 DonkeyRepublic carried out private placement of new shares at a subscription price of DKK 5.73 per share, raising gross proceeds of EUR 11.6M DKK.
KEY PERFORMANCE INDICATORS Q1-2023 (01. January 2023 - 31. March 2023)
| Total Revenue | 17.3M DKK | +125% |
| EBITDA | -4.5M DKK | +51% |
| Monthly revenue per bike | 307 DKK | +50% |
| Riders | 83.6K | +51% |
| Trips | 792K | +42% |
| Fleet size (active bikes) | 18.6K | +50% |
| CO2 savings | 65.4 Ton | -10% |
JOIN OUR Q1 2023 KPI REPORT WEBINAR
Date: April 28th
Time: 11.00-11.30
JOIN THE WEBINAR
Donkey Republic invites you to an online webinar presentation of our Quarterly KPI report for Q1-2023.
Program 28.04 at 11.00-11.30hrs:
• Introduction and highlights from Donkey Republic
• Financial highlights for Q1-2023
• Q&A
• Thank you for today!
