Greenmobility A/s · OMXCOP:GREENM
Greenmobility A/s — FY2019 Earnings Presentation
31 slides from Greenmobility A/s's earnings presentation, February 2020
Slide 1: Annual Report Presentation
ANNUAL REPORT PRESENTATION February 2020
Slide 2: Important Notice
IMPORTANT NOTICE This presentation does not constitute a prospectus and has been prepared for information purposes only and under no circumstances does it constitute the basis for a public offering. This document is not intended to be and does not constitute an offer, or a solicitation of any offer,
Slide 3: Introduction to GreenMobility
Introduction to GreenMobility INSERT PHOTO ABOVE 3
Slide 4: GreenMobility in Brief: Independent, green car-sharing provider
GreenMobility in Brief: Independent, green car-sharing provider In operation or to be We seek to expedite the transition away from private car launched during 2020 ownership in urban areas by providing the convenience of on-demand mobility – in a wholly sustainable manner Announced cities 37,593 (29
Slide 5: Cities are in need of sustainable mobility solutions
Cities are in need of sustainable mobility solutions to curb the effects of private car ownership ISSUES IN CITIES CAUSED BY PRIVATE CAR OWNERSHIP 600 Europe currently has 600 cars for every 1,000 1,000 inhabitants1 The average personal car 3-5% is utilised only 3-5% of the day2 68% of the world’s 6
Slide 6: Estimated development in European carsharing fleets
ESTIMATED DEVELOPMENT IN LONG DISTANCE (+10km) EUROPEAN CARSHARING FLEETS1 KEY ENABLERS Public transportation CAGR +17.1% 231 Car sharing can help cover the transportation need travelled Peer-to-peer car sharing 198 General consumer movement towards sharing 1 168 with privately owned cars Rental car
Slide 7: GreenMobility – one app is the key to all cars
ONE APP IS THE KEY TO ALL CARS 100% GREEN Your smartphone is all you need to find, GreenMobility is a sustainable service reserve and unlock the city car using only zero emission vehicles your car one tap away GreenMobility – ALL INCLUSIVE ROAMING BETWEEN CITIES The price includes parking, power and
Slide 8: GreenMobility contributes to the UN Sustainable Development Goals
GreenMobility contributes to the UN Sustainable Development Goals GreenMobility is proud to have joined UN Global Compact and adheres to its ten principles for responsible business behaviour Accumulated tonnes CO2 saved1 1,600 THE UN SUSTAINABLE DEVELOPMENT GOALS (SDGs) 1,400 1,200 The UN SDGs defin
Slide 9: GreenMobility seeks to expedite the transition from private car ownership to shared mobility
GreenMobility seeks to expedite the transition from private car ownership to shared mobility THE GREENMOBILITIY HISTORY THE GREENMOBILITIY VISION Current fleet size Fleet pipeline (when fully phased in) Announced: GreenMobility believes in cities without private, combustion-engine cars, but with sha
Slide 10: GreenMobility today
GreenMobility today INSERT PHOTO ABOVE 10
Slide 11: Scalable and adaptable business model enabling swift roll-out
Scalable and adaptable business model enabling a swift roll-out to a diverse set of cities THE GREENMOBILITY ROLL-OUT MODELS Corporate Joint Venture Franchise 100% owned and operated ensuring full Shared ownership, with GreenMobility- 100% owned and operated by franchisee with control of daily opera
Slide 12: Average revenue per car in Copenhagen increasing steadily
Average revenue per car in Copenhagen in increasing steadily DEVELOPMENT IN AVERAGE REVENUE +13.4% Lower activity due to PER CAR IN platform migration meant that COPENHAGEN1 Avg.: 20.7 23.4 Copenhagen did not reach operational run- +23.0% rate break-even in 20.0 December as expected 19.9 19.3 Howeve
Slide 13: Platform migration was necessary to maintain growth in active customers
Platform migration was necessary to maintain growth in active customers ACTIVE CUSTOMERS Per 4-week back-ward rolling window, indexed Since launch in 2017, we have 1,200 Platform 1 experienced a solid increase in active migration customers, with anticipated 2 (week 48) seasonality in the holiday per
Slide 14: Migration of users is on-track
Migration of users is on-track ACCUMULATED ACTIVE USERS PER WEEK as we continue to activate old users SINCE PLATFORM SWITCH Indexed, week 48 2019 = 100 700 Christmas Since switching our software and and New Years holiday hardware platform in week 48, 600 2019, migration of users from one platform to
Slide 15: Expandable business with ability to enter new cities
Expandable business with ability to leverage NEW CITIES PERFORM IN LINE WITH knowledge and experience to enter new cities COPENHAGEN OR BETTER 1.3x 1.3x SEVERAL CITIES AVAILABLE FOR FUTHER EXPANSION 1.3x 1.2x 1.2x 1.0x 0.9x 1.2x 1.6x 1.3x 1.3x 1.3x 1.0x 1.0x 1 2 3 4 5 6 7 8 9 10 11 12 Months since l
Slide 16: Attractive growth profile with clear path to profitability
Value • Costs to leasing and Attractive growth profile with depreciation are relatively fixed clear path to profitability • Maintenance does not scale 1-to-1; must be ILLUSTRATION conducted regularly at OF COST BASE any activity level SCALING • Costs to damages and WITHIN CITIES repairs expected to
Slide 17: Development in 2019
Development in 2019 INSERT PHOTO ABOVE 17
Slide 18: Highlights for 2019
Highlights for 2019 Denmark International Operational o In 2019, we celebrated our 3-year o Continued positive development in Oslo, o In order to remain agile in introducing birthday in Copenhagen and reached +1 with stronger growth relative to the new products, avoid large outages and million trips
Slide 19: Development in select KPIs
Development in select KPIs DEVELOPMENT IN USERS DEVELOPMENT IN TRIPS DEVELOPMENT IN CITIES 80,630 82,000 +38% 10-12 11 21,750 21,750 27,000 7-9 20,437 8 8 681,890 58,880 55,000 492,835 38,443 1 3 3 2 2018A Others 2019A 2019E 2018A 2019A 2018A Oper. Signed 2019A 2019E Denmark Other cities Total numbe
Slide 20: Revenue development
Revenue development REVENUE FROM OWN CARS REVENUE FROM FRANCHISE TOTAL REVENUE +32% +37% +5% 35,000 - 36,000 33,421 37,593 25,306 1,826 1,913 27,452 2018A 2019A 2018A 2019A 2018A 2019A 2019E Revenue (DKK’000s) Revenue (DKK’000s) Revenue (DKK’000s) o Solid increase in revenue from own cars, constitut
Slide 21: Development in EBITDA and net profit
Development in EBITDA and net profit EBITDA DEVELOPMENT NET PROFIT DEVELOPMENT 2018A 2019A 2019E 2018A 2019A (27,000) (20,450) (29,889) - (22,079) (33,115) (30,000) GreenMobility EBITDA (DKK ‘000s) GreenMobility net profit (DKK ‘000s) o Improvement in EBITDA primarily driven by pick-up in o Net prof
Slide 22: Development in Q4
Development in Q4 REVENUE DEVELOPMENT EBITDA DEVELOPMENT NET PROFIT DEVELOPMENT +26% '18/Q4 '19/Q4 '18/Q4 '19/Q4 (4,591) (6,965) (6,098) (11,512) 10,738 8,506 '18/Q4 '19/Q4 Revenue (DKK’000s) EBITDA (DKK’000s) Net profit (DKK’000s) o ’19/Q4 revenue increase of 26% relative o Net profit improvement d
Slide 23: Outlook – Guidance for 2020
Outlook – Guidance for 2020 Revenue growth expected to continue, driven by existing operational cities and launches in new cities Launch in 4-6 new cities during the year 7-9 operational cities by year-end Fleet of 1,600 – 2,100 EVs by year-end Negative net profit margin on Group level Break-even in
Slide 24: Key highlights of GreenMobility
Key highlights of GreenMobility 1 2 3 MISSION-DRIVEN COMPANY PROVEN CONCEPT WITH INDEPENDENT CAR EMBRACING THE GREEN ABILITY TO LEVERAGE SHARING PROVIDER WITH AGENDA WITH A CLEAR EXTENSIVE KNOW-HOW AN AGILE AND DIVERSE VALUE PROPOSITION AND EXPERIENCE IN BUSINESS MODEL TOWARDS SEVERAL KEY LAUNCHING
Slide 25: Appendix
Appendix INSERT PHOTO ABOVE 25
Slide 26: Profit and loss statement
Profit and loss statement INCOME AND COSTS OVER THE PAST THREE YEARS COMMENTS DKKm 2017A 2018A 2019A o Positive revenue development driven by stronger Revenue 14.2 27.3 35.3 activity in Copenhagen, successful launch in Oslo and early-stage revenue in Aarhus Other operating income 0.0 0.2 2.3 Total r
Slide 27: Balance sheet
Balance sheet INCOME AND COSTS OVER THE PAST THREE YEARS COMMENTS DKKm 2017A 2018A 2019A o Cars constitute the majority of PP&E (DKK 53.6m Intanglible assets 0.5 0.3 0.6 or 88% in 2019A), with the remainder comprising Property, plant and equipment 43.3 35.7 60.0 land and buildings Fixed asset invest
Slide 28: Cash flow statement
Cash flow statement INCOME AND COSTS OVER THE PAST THREE YEARS COMMENTS DKKm 2017A 2018A 2019A Changes in cash flow from operations due to: Operating profit (EBIT) (32.1) (29.1) (28.6) o Small improvement for operating profit/loss Amortisation, depreciation and impariment losses 7.4 7.0 8.1 o Decrea
Slide 29: Strong and visionary management supported by a lean organisation
Thomas Heltborg Juul Head of CEO Strong and visionary management CEO Innovation supported by a lean organisation Thomas H. Henrik I. Top1000.dk VP Investor CFO & COO CMO Relations Kasper K. Anders W Kasper Kolding Business Accounting & Marketing & CFO & COO IR com. Development Tech. com. 1 FTE 3 FTE
Slide 30: Competitive overview
Competitive overview Select competitors on the European market CITY CAR BRAND CARS CITIES TYPE1 LAUNCH OWNER ShareNow 15,500 21 ICE / EV 2010 BMW & Daimler Share'n’go 2,000 4 EV 2015 C.S. Group Enjoy 2,000 6 ICE 2013 Eni WeShare 1,500 1 EV 2019 Volkswagen Miles 1,400 4 ICE/EV/HEV 2018 Privately held
Slide 31: We aspire to be the best concept for Green urban Mobility for the world
We aspire to be the best concept for Green urban Mobility for the world We want to be part of the urban future Anders Wall VP Investor Relations AW@greenmobility.com Kasper Kolding CFO & COO KK@greenmobility.com 31