GreenMobility now expects to increase its revenue by up to 17 percent this year. The Danish car-sharing company has raised its financial forecast for the third time this year.
The Copenhagen-based service continues the growth trajectory it began after its founding in 2016. Company executives presented the updated expectations in a stock exchange announcement on Tuesday morning.
Revenue growth projections now range between 15 and 17 percent. The previous forecast was two percentage points lower.
GreenMobility reported revenue of 129.5 million Danish kroner in its most recent fiscal year. The company operates a fleet of 1,400 electric shared cars across Copenhagen and Aarhus, Denmark's two largest cities.
A strategic shift prompted the company to exit international markets. Last year's withdrawal from Belgium resulted in a loss of approximately 17 million kroner.
This year's performance appears stronger across all metrics. The company also raised its expectations for operating income, which could increase by up to 47 percent.
CEO Kasper Gjedsted expressed pride in the turnaround following the strategy change. He stated the company has proven that electric car-sharing works both economically and environmentally.
Gjedsted added they will build on this foundation to strengthen their market position in coming years. The positive results have significantly impacted the company's stock price, which has grown 126 percent year-to-date.
Despite recent gains, the stock remains 43 percent below its initial 2016 listing price. The company's journey to full recovery continues even as current indicators show strong momentum.
This performance demonstrates how Scandinavian green technology companies can achieve sustainable business models when focusing on core markets rather than rapid international expansion.