Contains Inside Information
Company Announcement No. 14 - 2025
Donkey Republic Holding A/S today announces the launch of its updated long-term strategy, "Ride and Do Well", outlining a clear roadmap to becoming the most trusted micromobility partner in Northern European cities towards 2030.
The strategy is accompanied by clear financial ambitions, committed cost savings to secure near-term profitability, and a planned private placement.
New Strategy Focus: Profitable Growth and Scalability
The new strategic roadmap is built on three core pillars: being a Trusted City Partner, offering Integrated Bike Sharing, and maintaining Highly Efficient Operations.
- 2030 Vision: Donkey Republic aims to become the most trusted micro mobility partner to Northern European cities. This vision is supported by the expected doubling of the European bike-sharing market by 2030, with a shift toward multi-year city contracts and deep integration with public transportation.
- Strategic Initiatives: Implementation of the new strategy is already underway with the launch of a significant cost savings program and the rollout of a new operating model to enhance efficiency and scalability. The successful rollout of the Gen4 e-bike is a key element of the efficiency drive.
Ambitious Financial Targets and Planned Private Placement
The Company is committed to executing the new strategy with a focus on delivering profitable growth, backed by a plan to strengthen its capital base.
1. Near-Term Profitability Target (2026)
The ongoing cost optimization initiatives and the new operating model are critical to delivering a significant improvement to the bottom line. Donkey Republic targets to deliver a break-even EBT (Earnings Before Tax) result in 2026. This objective reflects the management's focus on translating operational growth and efficiency into positive net results.
2. Mid- and Long-Term Financial Ambitions (2027 and 2030)
The following targets are strategic ambitions that illustrate the scale and value creation potential of the new strategy, and do not constitute formal financial guidance.
| Mid-term Ambition (By end of 2027) | Long-term Ambition (By end of 2030) | |
| Fleet Size | 30-35 thousand units | 60-70 thousand units |
| Revenue (DKK) | 220-270 million | 400-480 million |
| Free Cash Flow (DKK) | 15-22 million | 30-50 million |
| Target EBIT Margin | 10-15% | app. 15% |
| Target EBT Margin | 5-10% | app. 10% |
Note: Due to the prolonged tender processes mentioned in company announcement no- 12-2025 and the revised strategy, the previously published 2027 ambition (35 thousand bikes, revenue DKK 300 million, EBIT 15%) has been adjusted.
3. Planned Private Placement
To fund the runway, and reduce implementation risk of strategy execution, Donkey Republic intends to carry out a private placement of DKK 8.3 million. The issuing of new shares will be done against a cash contribution at a subscription price of DKK 6.12, corresponding to the average trading price during the 5 day trading period 20 - 24 October 2025, with no discount applied. 1.4 million new shares will be issued if the private placement is completed.
The intended private placement of new shares is led by Bladt Invest ApS, owned by the board member Rolf Bladt, who will have above 20% of shares after the private placement. He is accompanied by Bankinvest, an institutional investor, participating in this private placement.
The private placement is subject to authorisation from the general meeting. The board of directors will convene for an extraordinary general meeting as soon as practically possible.
The successful completion of this financing will solidify the company's path towards becoming cash flow positive.
Management Statement
Thor Möger Pedersen, CEO of Donkey Republic, commented:
"The launch of 'Ride and Do Well' and our commitment to a break-even EBT in 2026 mark a decisive step forward for Donkey Republic. We are translating our improved performance - evidenced by our strong Q3 results - into a scalable growth strategy. The planned private placement secures our runway, reduces implementation risk, and strengthens our ability to win new city contracts."
CONTACT INFORMATION
DonkeyRepublic Holding A/S
Skelbækgade 4, trappe B, 4. sal.
1717 København V
www.invest.donkey.bike
Thor Möger Pedersen, CEO
investor@donkeyrepublic.com
Certified Adviser
HC Andersen Capital
ca@hcandersencapital.dk
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About Donkey Republic
Founded in 2014, Donkey Republic is a Danish purpose driven impact company active in the micro mobility industry. Donkey Republic provides a flexible, affordable and more sustainable way of transportation to the citizens by partnering with the cities.
Donkey Republic is a data driven technology company facilitating bike sharing, and we are able to provide cities and citizens a reliable bike sharing service. Sustainably at its core integrates with the city's public transportation system, by pursuing innovation Donkey Republic develops end-to-end products and services that solve city and riders problems. Riders are able to enjoy a more convenient and high quality ride, with our bike and ebike fleet, designed for durability and optimal maintenance through our servicing software platform. This collaborative dedicated software solution together with our bikes, seeks to improve people's health & well-being, the environment, reducing traffic congestion across cities as well as public space optimisation.
Donkey Republic is a publicly traded company listed on the Nasdaq First North Growth Market. The company was listed in 2021 to onboard investors and support its growth and expansion into the European Market, and to continue securing its foothold and developing its market position in the European Micro mobility space. With thousands of Donkey bikes successfully implemented, Donkey Republic aims to grow its business and fulfill its vision of making urban city life quality better through responsible bike sharing.