Company Announcement no. 64/2025 (May 09, 2025)
Movinn publishes Q1 2025 Interim Report and maintains full-year guidance for 2025.
Financial highlights (DKK'000)
- Revenue: 20,384 (Q1 2024: 21,480)
- EBITDA: -2,597 (Q1 2024: 1,099)
- EBIT: -3,777 (Q1 2024: -291)
In Q1 2025, Movinn realized a revenue of 20,384 tDKK, corresponding to a decrease of 5.10% compared to the same period last year.
EBITDA in Q1 2025 was -2,597 tDKK, while EBIT came in at -3,777 tDKK.
The revenue in Q1 2025 was primarily effected by weaker demand in secondary Danish markets. While the quarter was softer than usual, the underlying trends began to improve in March, and early Q2 data indicates increasing demand and operational improvements.
A weaker quarter - but positive momentum building in Q2
Q1 2025 was marked by a weaker than usual start to the year, with weaker demand across secondary markets.
While I am not satisfied with the quarterly results, we are seeing clear signs that our strategic initiatives are starting to deliver results.
Demand is increasing and key KPI's are improving as we progress through Q2, said Patrick Blok, CEO.
During the quarter, Movinn continued to execute its Core'27 strategy, which emphasizes profitability, efficiency, and disciplined capital allocation.
As part of this strategy, Movinn initiated the downscaling of operations in Odense by 20 units, reallocating resources towards areas with higher and more stable value creation and demand.
Movinn also continued to invest in technological development to strengthen its core operations as well as continuing to strengthen relationships with key clients by establishing multi-year partnerships with large and important accounts.
These high value partnerships are important to Movinn, why the company continouosly invest in maintaining and upgrading the supply, to meet the clients' growing needs for high quality accommodation.
Full year 2025 guidance maintained
Despite the soft start to the year, Movinn maintains its full-year guidance for 2025:
- Revenue: DKK 93-97 million
- EBITDA DKK 5-7 million
- EBIT: DKK 0-2 million
We are seeing improved sales momentum and positive developments in KPI's such as occupancy rates and revenue per unit. As a result, we remain confident in our full-year guidance and the ambitions outlined in our Core'27 strategy, added Patrick Blok.
Presentation of the Interim Report
Movinn is hosting a webinar, presenting the Q1 Interim Report on:
- May 13, 2025, at 13.00 CET.
For registration, click here.
Contacts
Andreas Bækgaard Thaning
Head of Finance & IR, Movinn A/S
abt@movinn.dk
+45 27 10 27 20
Certified Advisor
HC Andersen Capital
Pernille Friis Andersen
https://hcandersencapital.dk/contact/
+45 30 93 18 87
About Us
About Movinn
Founded in October 2014, Movinn A/S has grown to become one of Denmark's leading providers of fully serviced apartments, operating within the PropTech industry and delivering space-as-a-service to mainly large domestic and international corporations and organizations. To stay at the forefront of trends in the real estate and serviced living industry - and to diversify activities - the company has created a house of brands that cover both traditional and emerging client segments.
Inhouse, the company has created a highly integrated value chain and comprehensive tech-products (several software platforms & IoT hardware) to help provide the best possible service and quality to the company's clients and to help scale profitable growth. Movinn has a strong presence in Denmark, covering Aarhus, Odense and Copenhagen (the latter being the largest and primary market), and the company is planning to expand its operations into new European destinations.
Movinn A/S has received approval for admission to trading of its shares on Nasdaq First North Growth Market Denmark under the ticker "MOVINN".