ABG Sundal Collier har mod betaling udarbejdet denne analyse af GreenMobility:
- GreenMobility acquires small competitor Twist Mobility
- Entering multiple German cities in parallel is likely
- Next milestone is raising capital for expansion plans
Entering Germany with acquisition and partnership
Yesterday, GreenMobility announced that it acquired German Twist Mobility GmbH from EnBW (Germany’s third largest energy company) and Bridgemaker for an undisclosed amount with limited information on Twist, besides that it operates 12 shares EV’s across 5 cities and has operated for 1.5 years. We see that they also use Renault Zoe’s on their website. Twist services smaller cities (below 0.5m people), where municipalities pay a fixed monthly fee and allows local citizens to use it without payment. GreenMobility expects to increase the fleet size by 40-50 in 2021 and 100 in 2022. In addition, they will collaboration with EnBW to promote and see the electric carsharing service to local municipalities – where initial talks were already underway prior to the acquisition. The acquisition does not impact GreenMobility’s 2021 outlook of DKK 70-80m in revenue and DKK -100 to -110m in EBT.
Generalt om Commissioned Research: Bemærk, at man bør se bort fra eventuelle kursestimater i såkaldt commissioned research, og den underliggende analyse skal også tolkes med forsigtighed, da negative aspekter ikke nødvendigvis fremhæves.
