Correction of attachment: Move About Group (MOV) publishes figures for Q3 2022: Strong revenue growth and improved earnings

Correction: The Q3 report is now available as attachment

In the third quarter of 2022, Move About Group AB ("Move About" or the "Company") grew by 54% compared to the third quarter of 2021. Compared to Q1-Q3 2021, the growth was 60%. Compared to Q2 this year, revenue was stable, despite a seasonally weaker third quarter.

SEK'000 

2022 Q3 

2021 Q3 

2022 9m 

2021 9m 

Total Revenue 

18 591  

12 038  

 51 182  

31 804 

Gross profit 

 11 533  

 7 375  

 28 101  

 19 654  

EBITDA 

-2 170  

-5 528  

-23 800  

-12 681  

EBIT

-9 614  

-10 785  

-44 971  

-24 642  

 

The third quarter of the year started with record sales in all countries, Norway, Sweden and Germany. The usual seasonal weakness during the holiday period in Germany, where our members are primarily business customers, did not occur this year. For the first nine months of the year membership growth was up 200% compared to the same period last year, which creates a good momentum for future expansion. The number of cars in the fleet remained stable, with the aim of increasing capacity utilization in the company's existing electric car sharing locations.

In addition to strong growth, the result was affected by the measures in the comprehensive efficiency plan that the board decided in the beginning of Q2 2022. Move About's OH costs have been halved since the start of the program, and the focus is now on ensuring optimal management of the company's many car sharing locations, as well as to reduce costs for the vehicle fleet.

"We continue to execute on the plan that will take us to profitability. The first phase of this process has centered around our OH costs. Now we are taking a firm hold of the operation, our offer and the vehicle fleet. In all areas we see great potential to do things more efficiently, as well as to take advantage of our size across national borders, which simply was not prioritized during the company's previous expansion phase," says Move About Group's CEO, Olof Jonasson.

 

The entire report can be found on the company's website:

Link to the report: https://moveaboutgroup.com/wp-content/uploads/2022/11/Q3-Interim-Report-Svenska.pdf 

For further information, please contact:

Olof Jonasson, VD, Move About Group AB 
Email: [email protected] 
+46790683811  

This information is information that Move About Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at November 24, 2022 at 08.00.

Certified Adviser
Mangold Fondkommission AB is the Company's Certified Adviser and can be reached by phone, 08-5030 1550, and via e-mail, [email protected].

Move About Group AB
Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals as well as companies, municipalities and organizations. The company has developed and owns all intellectual property rights to its cloud-based greentech platform that provides digital access to electric cars, electric bicycles, taxis, metro and parking via one and the same app - around the clock. Every kilometer that the user travels with the electric cars through the platform reduces CO2 emissions.

The company's comprehensive mobility solution is based on the Move About app, which gives the user access to the Company's pools of electric cars, electric bikes and electric scooters. Move About also helps companies, municipalities and organizations optimize their fleets by tailoring mobility solutions as needed. Move About was founded in Oslo, Norway in 2007 and today has over 70 000 users on its platform and over 730 electric cars in its fleet with a presence in Sweden, Norway and Germany.

Rättelse av bilaga: Move About Group (MOV) offentliggör siffror för Q3 2022: Kraftig omsättningstillväxt och förbättrat resultat

Rättelse: Kvartalsrapporten finns nu bifogad

Det tredje kvartalet 2022 växte Move About Group AB ("Move About" eller "Bolaget") med 54% jämfört med det tredje kvartalet 2021. Jämfört med Q1-Q3 2021 var tillväxten 60%.  Jämfört med Q2 i år var intäkterna stabila, trots ett säsongsmässigt svagare tredjekvartal.


Correction of attachment: Move About Group (MOV) publishes figures for Q3 2022: Strong revenue growth and improved earnings

Correction: The Q3 report is now available as attachment

In the third quarter of 2022, Move About Group AB ("Move About" or the "Company") grew by 54% compared to the third quarter of 2021. Compared to Q1-Q3 2021, the growth was 60%. Compared to Q2 this year, revenue was stable, despite a seasonally weaker third quarter.


Move About Group (MOV) offentliggör siffror för Q3 2022: Kraftig omsättningstillväxt och förbättrat resultat

Det tredje kvartalet 2022 växte Move About Group AB ("Move About" eller "Bolaget") med 54% jämfört med det tredje kvartalet 2021. Jämfört med Q1-Q3 2021 var tillväxten 60%.  Jämfört med Q2 i år var intäkterna stabila, trots ett säsongsmässigt svagare tredjekvartal.


Move About Group (MOV) publishes figures for Q3 2022: Strong revenue growth and improved earnings

In the third quarter of 2022, Move About Group AB ("Move About" or the "Company") grew by 54% compared to the third quarter of 2021. Compared to Q1-Q3 2021, the growth was 60%. Compared to Q2 this year, revenue was stable, despite a seasonally weaker third quarter.


Move About levererar delade elbilar till 159 nyproducerade lägenheter i Västerås

I samarbete med det allmännyttiga bostadsbolaget Mimer utökar nu Move About sin närvaro i Västerås. Två nya stationer med totalt fyra elbilar har redan rullats ut - redo att bokas av de boende, allmänheten och närliggande företag via Move Abouts app.


Move About Group AB flyttar funktioner från Oslo till Göteborg och utnämner Andreas Tullborg till T.f. CFO

I ett led att effektivisera de administrativa funktionerna i Move About Group AB ("Move About" eller "bolaget") flyttas vissa funktioner, såsom ekonomi och skadereglering, till huvudkontoret i Göteborg. I och med detta utnämns Andreas Tullborg, 40, som T.f. CFO i Move About Group AB och kommer ingå i bolagets ledningsgrupp. Magnus Bergan, CFO, lämnar gruppen efter Q3 rapporten i november.


Move About Group AB moves functions from Oslo to Gothenburg and appoints Andreas Tullborg as Acting CFO

In part of streamlining the administrative functions of Move About Group AB ("Move About" or the "company"), certain functions, such as finance and claims settlement, are moved to the head office in Gothenburg. As a result, Andreas Tullborg, 40, is appointed as acting CFO of Move About Group AB and will be part of the company's management team. Magnus Bergan, CFO, will leave the group after the Q3 report in November.


Teckningsoptioner av serie TO1 nyttjades till cirka 43,4 procent och Move About Group AB tillförs cirka 3,38 MSEK

Move About Group AB ("Move About" eller "Bolaget") meddelar idag utfallet från nyttjandet av teckningsoptionerna av serie TO1, vilka emitterades under det första kvartalet 2022. Totalt nyttjades 2 084 883 teckningsoptioner av serie TO1, motsvarande cirka 43,4 procent av utestående teckningsoptioner av serie TO1, för teckning av 2 084 883 aktier till en teckningskurs om 1,62 SEK per aktie. Genom nyttjandet av teckningsoptionerna av serie TO1 tillförs Move About cirka 3,38 MSEK före emissionskostnader.


Warrants of series TO1 were subscribed to approximately 43.4 percent and Move About Group AB receives approximately SEK 3.38 million

Move About Group AB ("Move About" or the "Company") today announces the outcome of the exercise of warrants of series TO1, which were issued during the first quarter of 2022. In total, 2,084,883 warrants of series TO1 were exercised, corresponding to approximately 43.4 percent of the total number of outstanding warrants of series TO1, for subscription of 2,084,883 shares at a subscription price of SEK 1.62 per share. Move About will receive approximately SEK 3.38 million before issuing costs through the exercise of the warrants of series TO1.


Slate Asset Management tillhandahåller bilfinansiering för Move About Group AB i syfte att stödja utrullning av elfordon och laddinfrastruktur i Europa

LONDON, 7 oktober 2022 - Slate Asset Management ("Slate"), en global alternativ investeringsplattform riktad mot reala tillgångar, meddelade idag att man har kommit överens om att tillhandahålla bilfinansiering till Move About Group AB ("Move About"), en svensk elektrisk mobilitetstjänst, för att stödja utrullningen av mer än 150 elfordon och laddinfrastruktur för elfordon i Europa.  Bilfinansieringen från Slate kommer att användas för att stärka Move Abouts elbilsflotta, som för närvarande äger och leasar över 800 elbilar och har mer än 71 000 användare på sin plattform.


Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe

LONDON, October 7, 2022 - Slate Asset Management ("Slate"), a global alternative investment platform targeting real assets, today announced that it has agreed to provide financing to Move About Group AB ("Move About"), a Swedish electric mobility service, to support the roll out of more than 150 electric vehicles and electric vehicle charging infrastructure throughout Europe. The car funding provided by Slate will be used to bolster Move About's electric car fleet, which currently owns and operates over 800 electric cars and has more than 71,000 users on its platform.


Sista dag för handel med teckningsoptionerna av serie TO1 i Move About Group AB är idag, den 5 oktober 2022

Idag, den 5 oktober 2022, är den sista dagen för handel med teckningsoptioner av serie TO1 i Move About Group AB ("Move About" eller "Bolaget"). Nyttjandeperioden för teckningsoptionerna av serie TO1 pågår till och med den 7 oktober 2022. Varje teckningsoption av serie TO1 ger rätt att teckna en (1) ny aktie i Move About. Teckningskursen för teckningsoptionerna av serie TO1 är 1,62 SEK per aktie.


The last day of trading with the warrants of series TO1 in Move About Group AB is today, October 5, 2022

Today, October 5, 2022, is the last day of trading with the warrants of series TO1 in Move About Group AB ("Move About" or "the Company"). The subscription period for the warrants of series TO1 runs up until October 7, 2022. Each warrant of series TO1 gives the owner the right to subscribe for one (1) new share in Move About. The exercise price for the warrants of series TO1 is SEK 1.62 per share.


Move About moderniserar flottan och realiserar starka andrahandsvärden på elbilar

Som ett led i att erbjuda kunderna moderna och attraktiva elbilar i Move Abouts delade elbilspooler har bolaget initierat ett skifte av mer än 10% av flottan i Sverige, vilket innebär leverans av ett 30-tal nya fordon. Samtidigt bekräftas en mycket stark andrahandsmarknad på elbilar, jämfört med inlösenpriser för bilarna beräknas skiftet generera mer än 2 MSEK i vinst för Move About.  


Olof Jonasson utsedd till ny VD för Move About Group AB

Till ny VD och koncernchef för Move About Group AB har utsetts Olof Jonasson, 51. Olof har sedan april 2022 varit T.f. VD för gruppen. Olof har under perioden november 2021-mars 2022 suttit i bolagets styrelse och har tidigare en bakgrund i ledande ställningar inom finansmarknaden i Sverige.


Olof Jonasson appointed new CEO of Move About Group AB

Olof Jonasson, 51, has been appointed new President and CEO of Move About Group AB.  Olof has since April 2022 been Acting CEO for the group.  Olof has during the period November 2021-March 2022 served on the company's board and previously has a background in leading positions in the financial market in Sweden.


Move About redovisar kraftig medlemstillväxt - ökar 215 procent jämfört med föregående period

Skandinaviens största leverantör av elbilspooler mer än dubblar antalet nya medlemmar i Sverige och Norge från januari till augusti 2022 - jämfört med samma period året innan. Den kraftiga tillväxten kan härledas till faktorer som skenande priser på fossila drivmedel, en alltmer miljömedveten konsumentmarknad och effektivare kommunikationskanaler.


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