Ambitious 2025 strategy that will require capital
During today’s seminar, the IR dept. said that this Monday GreenMobility will launch in both Antwerp and Gent, increasing its total fleet from 700 to 900 cars. The company also unveiled its 2025 strategy, where it aims to be operational in 35 cities with a fleet of 10k EVs. This would equate to 5-6 new cities a year and it expects to be in five new cities this year. The cost is EUR 2-3m, which would equate to ~DKK 0.5bn. The company expects to raise DKK 50-100m in equity capital during H2’20 (ABGSCe: 1m shares equating to ~DKK 100m) and reach operation loans of up to DKK 75m. The company says that 55% is for operations in new cities, 17% for the launch in new cities, 8% for existing cities and 20% for the development of the central organization. The company expects to break-even a city within 18 months and to accelerate this rate onwards.
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