Greenmobility A/s · OMXCOP:GREENM
Greenmobility A/s — Investor Presentation (October 2019)
47 slides from Greenmobility A/s's investor presentation, October 2019
Slide 1: Investor Presentation October 2019
INVESTOR PRESENTATION October 2019
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 2016 Year of establishment 71,877 Total number of customers (September 2019) 1,147,045 Total number of trips driven (from Q1’17 to Q2’19) 1,265.9 Total tonnes CO2 saved (September 2019) Despite operating in a young industry, GreenMobility is one of the most experienced
Slide 4: The Future of Mobility
Mobility is the lifeblood of our cities and essential for urban life, but urban mobility is primed for dramatic change Urbanization, the loss of public space and traffic congestion are impacting urban transportation GreenMobility takes an active part in To the benefit of current and future changing
Slide 5: The Market for Mobility Is Developing Swiftly
THE MARKET FOR MOBILITY IS DEVELOPING SWIFTLY MOBILITY-as-a-SERVICE THE FUTURE OF MOBILITY? Individual transportation is creating ever-more congested cities Existing transport options have failed to The average car is utilised only 5% of meet this shift in demand, creating the the time, at other tim
Slide 6: GreenMobility in the Market for Mobility-as-a-Service
The outlook for GREENMOBILITY IN THE MARKET FOR Cars on Demand2 MOBILITY-as-a-SERVICE EU market size development (USD) Short distance GreenMobility - Rejseplanen Micro The principle behind MaaS is to gather all modes of 25bn mobility transportation in one place, allowing consumers to easily find the
Slide 7: Multiple Players Are Expanding a Market Still in Its Infancy
MULTIPLE PLAYERS ARE EXPANDING A MARKET STILL IN ITS INFANCY THE GREENMOBILITY ADVANTAGE CITY CAR BRAND CARS CITIES TYPE1 LAUNCH OWNER VW announced the ShareNow 15,485 21 ICE / EV 2010 BMW & Daimler intend to enter the Share'n’go 2,000 4 EV 2015 C.S. Group market with 2,000 One of few with a 100% gr
Slide 8: GreenMobility Is Well-Suited to Meet the Challenges of Automotive OEMs
The potential evolution of the GREENMOBILITY IS WELL-SUITED TO MEET OEM value chain1 Size of automotive market revenue pools THE CHALLENGES OF AUTOMOTIVE OEMs (size indicative of revenue potential, OEM view) Car After Today Generally, OEMs are aware of the large BMW and Mercedes sales sales Add-on b
Slide 9: New EU Regulation Expected to Drive Expanded Supply of Electrical Vehicles
NEW EU REGULATION IS EXPECTED TO DRIVE EXPANDED SUPPLY OF ELECTRICAL VEHICLES EU-Regulation 2019/631 Electrical cars have zero emissions EU is implementing a new regulation on emissions requirements for newly registered cars To incentivise car producers to prioritise production of EVs, EVs will coun
Slide 10: What Is GreenMobility?
• Your City Car – Cars on Demand with a single solution for all markets • Simple KPIs based on minutes, trips, price WHAT IS GREENMOBILITY? and customers • GreenMobility has built significant know- how and has developed a robust portfolio of proprietary systems • Led by a highly competent management
Slide 11: The GreenMobility Product: Your City Car
THE GREENMOBILITY PRODUCT: YOUR CITY CAR Your smart phone is all you need to One app ONE APP use the city cars. The GreenMobility IS THE KEY TO One website app is the key to find, reserve and ALL CARS unlock the city car One system One brand MINUTE Drive as far and long as you want. DAILY You can pa
Slide 12: GreenMobility Contributes to the UN Sustainable Development Goals
GREENMOBILITY GreenMobility… CONTRIBUTES Better area utilisation in cities TO THE UN SUSTAINABLE Adds a mobility solution to the city DEVELOPMENT GOALS Lower resource Makes a lifestyle expenditure on cars without privately- owned cars possible Less road congestion Replaces a taxi ride gives less tim
Slide 13: GreenMobility Has Extraordinarily Simple KPIs
GREENMOBILITY HAS EXTRAORDINARILY SIMPLE KPIs PRICE MINUTES TRIPS CUSTOMERS Revenue model KPIs Pricing Trip length Trips Customers 13
Slide 14: Significant Know-how and Portfolio of Proprietary Systems
GREENMOBILITY HAS BUILT SIGNIFICANT KNOWHOW AND DEVELOPED A PORTFOLIO OF PROPRIETARY SYSTEMS Telematics systems GreenMobility team handles charging, Fleet Customer- management facing app cleaning and optimal car placement Hands on the car every 3.5 days Payment Customer systems service 24-hour custo
Slide 15: In Real Time
400 cars - 24/7 365 days a year 12,500 km a day in all types of weather GreenMobility can collect all types of data in real time Live Road Assessment project IN REAL TIME 15
Slide 16: GreenMobility Is Led by a Highly Experienced Management Team
GREENMOBILITY IS LEAD BY A HIGHLY EXPERIENCED MANAGEMENT TEAM Henrik Isaksen Thomas Heltborg Juul Anders Wall Kasper Suhr-Larsen Kasper Kolding CEO and founder CEO GreenMobility DK Chief International Officer CTO CFO With GreenMobility since Joined GreenMobility Joined GreenMobility Joined GreenMobi
Slide 17: Well-Proven Concept: The Copenhagen Story
• GreenMobility’s first city, Copenhagen, was launched in 2016 with 40 EVs • Today, GreenMobility Copenhagen has 400 THE COPENHAGEN STORY EVs and more than 50,000 users – with WELL-PROVEN CONCEPT: ~5,000 new users joining every quarter • Operations in Copenhagen are quickly approaching break-even as
Slide 18: Well-Proven Concept with More Than 50,000 Users in Copenhagen
GREENMOBILITY REPRESENTS A WELL-PROVEN CONCEPT WITH MORE THAN 50,000 USERS IN COPENHAGEN GREENMOBILITY COPENHAGEN USERS SINCE LAUNCH Initiatives include incentive-to-charge, city zone bonuses Several and limited free initiatives Price increase reservations introduced due changed subscription model ~
Slide 19: Robust Development in KPIs in Copenhagen
On-track to reach customer target Number of minutes are increasing as planned ROBUST DEVELOPMENT IN Number of GreenMobility Copenhagen customers Number of minutes driven in Copenhagen 55,000 +16,500,000 51,000 14,487,410 KPIs IN COPENHAGEN 38,443 2019 Q1 & Q2: 7.8m Q4 2018 Jul-19 End 2019E 2018 2019
Slide 20: Highly Scalable Business Model
Cost scaling GREENMOBILITY REPRESENTS A HIGHLY The majority of GreenMobility’s cost base is fixed and hence does SCALABLE BUSINESS MODEL not scale with revenue Development in revenue and costs for Copenhagen operations Examples of scaling of major costs (indexed) With relatively few variable costs,
Slide 21: Our Ambitions
• GreenMobility aspires to be the best concept for green urban mobility in the world • 2021-ambition is to have ~450,000 users (fully integrated potential of ~1.4m) driving 6,000 EVs across +15 cities OUR AMBITIONS • To reach this goal, GreenMobility operates two concepts: Franchised cities and corp
Slide 22: Targets ~450,000 Users by 2021
GREENMOBILITY TARGETS ~450,000 USERS WITH A FULLY INTEGRATED POTENTIAL OF 1.4M USERS BY 2021 2021 2019 ~450,000 users with a fully 2018 integrated potential1 of 1.4m users 8-10 new cities signed / LOI Active in +15 cities Oslo launched Break-even in Copenhagen in December by year end Total revenue o
Slide 23: Many Attractive Cities
ATTRACTIVENESS +15 CITIES IN EUROPE CRITERIA +500,000 citizens MANY ATTRACTIVE CITIES above age 18 Preferably mid-sized cities ACROSS EUROPE / urban markets Supportive city density, layout, congestion patterns and parking rules Green city agenda with incentives for EVs Examples of p
Slide 24: GreenMobility's Two Concepts: Franchise and Corporate
GREENMOBILITY’S TWO CONCEPTS: Franchise Corporate FRANCHISE AND CORPORATE Creates opportunity for fast roll-out in Provides flexibility and partnership with strong partners significant revenue potential 100% owned and operated by partner 100% owned and operated by GreenMobility Ability to leverage p
Slide 25: Financial Drivers in GreenMobility
# OF FRANCHISES x 1x # OF CORPORATE CITIES x FINANCIAL DRIVERS IN FRANCHISE COPENHAGEN CORPORATE CITY City revenue Copenhagen revenue Corporate city revenue GREENMOBILITY Trips Trips Trips x x x Fee% x Minutes Minutes Minutes x x x price/minute price/minute price/minute + + + Upstart fee Fees from p
Slide 26: Corporate Cities Create Larger Cash Demand but Greater Upside
CORPORATE CITIES CREATE A LARGER CASH DEMAND, BUT ALSO CARRY A GREATER UPSIDE Illustrative comparison of Franchise and Corporate city (EBITDA and cash flow to GreenMobility, EUR) Quarterly EBITDA Accumulated Cash flow 450,000 Corporate 4,500,000 Acc. Cash flow of EUR 3m Franchise 350,000 3,500,000 E
Slide 27: The Corporate Model
ILLUSTRATION OF COST BASE SCALING IN CORPORATE CITY RELATIVE TO COPENHAGEN OPERATIONS SCALING BASED ON EXISTING OPERATIONAL BACKBONE THE CORPORATE MODEL 1 Royalty 1 Telematics Royalty Telematics Electricity Electricity Admin Admin 4% Marketing Car costs Marketing Car costs 8% 30-35% 4% 30-35% Person
Slide 28: The Franchise Model
THE FRANCHISE MODEL PROVIDING UNIQUE KNOW-HOW TO PARTNERS GreenMobility aspires to be the EXPANSION THROUGH FRANCHISE PARTNERSHIPS best concept for green urban • Focus on strong local partners with mobility in the world large customer bases – value chain potential • Get a strong foothold in the loca
Slide 29: Robust Formula for Approaching New Cities
GREENMOBILITY HAS DEVELOPED A ROBUST FORMULA FOR APPROACHING NEW CITIES 1 2 3 4 Target city is identified from GreenMobility conducts Dialogue with potential Agreement is signed list of candidate cities extensive research on the city partner is initiated with partner Select examples City 1 City 2 Ke
Slide 30: Our Journey So Far
• GreenMobility launched its first international franchise in Oslo in December 2018 • Aarhus, the first Corporate city outside Copenhagen, was announced in July 2019 OUR JOURNEY SO FAR followed by Malmö and Gothenburg in September 2019 • LOIs for six new franchise cities in Belgium and the UK signed
Slide 31: Where We Are Today
WHERE WE ARE TODAY AMBITION, MISSION AND VISION COMING TOGETHER Global potential future journey 2021 Ambition LOI Announced In operation GreenMobility aspires to Brussels, Antwerp and be the best concept for Gent signed in 2019 green urban mobility in the world First city in operation is expected to
Slide 32: Oslo Is Developing Well Ahead of Expectations
OSLO IS DEVELOPING WELL AHEAD OF EXPECTATIONS Users 45,000 40,000 Currently has +17,500 customers 35,000 Fleet of 250 electric city cars 30,000 Long-term agreement based on revenue fee 25,000 Large franchise partner with strong potential and clear synergies with current train- and 20,000 bus operati
Slide 33: First Corporate City Outside Copenhagen Announced: Aarhus
FIRST CORPORATE CITY OUTSIDE COPENHAGEN ANNOUNCED Aarhus Population in Aarhus: Number of cars expected in Aarhus 345,6001 ~200 Denmark’s second largest city Home to Denmark’s largest university – Aarhus University ~100 Corporate partner October 2019 + ~12 months NRGi is a consumer-owned regional ene
Slide 34: Two New Corporate Cities: Malmö and Gothenburg
TWO NEW CORPORATE CITIES: MALMÖ AND GOTHENBURG Gothenburg Malmö Population in Gothenburg: Population in Malmö: 571,9001 339,3001 Sweden’s second largest city Sweden’s third largest city Number of cars expected in Number of cars expected in Gothenburg Malmö ~350 ~250 ~100 ~100 Year-end 2019 Expected
Slide 35: New LOIs with Partners in Belgium and the UK
Belgium United Kingdom WITH PARTNERS IN BELGIUM Antwerpen # of inhabitants # of inhabitants Brussels Leeds +1,200,000 (2017) +800,000 (2018) NEW LOIs ENTERED INTO Gent Leeds Liverpool Antwerp Manchester Brussels +520,000 (2017) Manchester +530,000 (2018) Gent Liverpool AND THE UK +230,000 (2017) +49
Slide 36: Group Results
GROUP RESULTS INSERT PHOTO ABOVE • GreenMobility addresses a swiftly growing market with a clear demand for sustainable, on-demand mobility services • Proven concept with a 100% green fleet, deep know-how and constantly evolving services • On route to become the first profitable EV-based car sharing
Slide 37: Why GreenMobility Succeeds
Why GreenMobility succeeds 1 2 3 Mobility pioneer ahead of Successful concept with Valued for sustainability- globally changing markets exclusive know-how focused and consistent mission in changing the world Swiftly growing market driven by a Proven, agile and highly scalable clear demand for sustai
Slide 38: Financial Development
FINANCIAL DEVELOPMENT (DKK ‘000) 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2018 2017 INCOME STATEMENT Revenue 9,973 7,390 6,805 6,079 6,632 5,910 25,426 14,212 Franchise revenue 244 978 1,502 138 186 1,826 - EBITDA (3,154) (5,064) (6,105) (5,347) (5,570) (5,057) (22,079) (24,637) EBIT (5,135)
Slide 39: Outlook
OUTLOOK INSERT PHOTO ABOVE • Recent update to guidance following Q2 to reflect expected launch in new corporate cities and newly signed partnerships in Belgium and the UK • Capital raise to support operations in new and future Corporate cities, develop the GreenMobility brand internationally, streng
Slide 40: GreenMobility Group Guidance 2019
GreenMobility Group Guidance 2019 Guidance Guidance at FY18 after Q2 DKK DKK Revenue 32-34m 38-40m DKK DKK EBT -22-24m -21-23m New cities 3-4 8-10 signed / LOI Total # 100,000 100,000 customers # of EVs n.a. 950 40
Slide 41: Contemplated Capital Increase
CONTEMPLATED CAPITAL INCREASE Up to DKK 30-40m for faster growth CORPORATE CITIES Resources to add more Corporate cities, thereby gaining further operational experience in an international context Funding of operations and securement of fleet financing in new Corporate cities, including Malmö and Go
Slide 42: We Aspire to Be the Best Concept for Green Urban Mobility
We aspire to be the best concept for Green urban Mobility for the world We want to be part of the urban future 42
Slide 43: Appendix
APPENDIX INSERT PHOTO ABOVE 43
Slide 44: Our Journey Until Today
OUR JOURNEY UNTIL TODAY Ambition: +15 cities + 6,000 EVs ~450,000 users (full potential of 1.4m) 44
Slide 45: Near-Term Potential Development of Our Business Model
NEAR-TERM POTENTIAL DEVELOPMENT OF OUR BUSINESS MODEL Work actively with revenue models to incentivise customers to utilise GreenMobility more often Tests of new initiatives in-line with recent additions such as limited reservations, incentive-to-charge and bonus minutes in certain areas Strict focu
Slide 46: The Potential Future Journey for Mobility Services
THE POTENTIAL FUTURE JOURNEY ~ 3-10 years ~ 5-15 years It is believed that the usage of car on demand Subject to technological services will have grown significantly and, given feasibility and following the the maturity of the technology, is mostly handled by FOR MOBILITY SERVICES first potential te
Slide 47: In Real Time
CITY CAR CUSTOMER TRIP • Speed • Age and gender • Weather conditions • Residence • Power level • Location • Trip duration • Driving behaviour • Car position • Driving activity • Internal equipment (Exp. seat belt • 24/7 driving activity numbers, sound level, temperature, etc.) • Etc. • External equi