Analyst Comment

HCA Market Close 10/01 2023 – GreenMobility launched new strategic plan

By Philip CoombesEquity Research Analyst

HCA Market Close 10/01 2023 – GreenMobility launched its new strategic plan today, focusing on profitability.

Market Movements:

Denmark: OMX:C25 (-1.47%) ; Sweden: OMX:S30 (-0.51%) ; Norway: OBX:OSL (+0.92%) ; S&P 500 (+0.06%) ; Nasdaq (+0.15%); Stoxx 600 (-0.59%)

Market Drivers:

European markets fell while US markets gained today, influenced by bank commentary.

Last night JP Morgan’s Jamie Dimon said US rate hikes might need to go beyond 5% and stay there for longer. This view was supported by Fed Presidents Mary Daly and Raphael Bostic, who reiterated the need for key policy rates to move above 5% and be kept there for longer. However, following his initial comments, Dimon said he favoured a pause. However, Goldman countered this view expressing its view that Europe will not enter recession as a China reopening call drive growth in the region.

US markets were supported by gains to Microsoft, following a push higher in Microsoft as rumours emerged it plans to acquire a 49% stake in OpenAI, creator of ChatGPT, for USD 10bn. Markets also watched

Tomorrow markets receive passenger numbers from Heathrow, which may provide insight as to the strength of consumer travel, while markets will also watch earnings this week from US bulge bracket banks and key UK retailers, including supermarket giants Sainsbury’s and Tesco and fashion giant ASOS.

Snacks from the HCA Platform:

This morning, GreenMobility launched its new strategic plan focusing on profitability. As a result, GreenMobility will close its Swedish and German markets to consolidate the business in its existing mature markets. This also means that the 2025 aspiration of 10,000 cars in 35 cities is postponed until 2030. Financially, GreenMobility now expects to reach break-even by late 2023 and expects group profitability in 2024. Therefore, GreenMobility has no plans to raise new capital in 2023. The share gained 3.9% today.

On Thursday, 12 January 2023, at 13:00, you can meet and ask questions to GreenMobility’s interim CEO and Group CFO in a virtual live event, who will give a brief overview of the new strategy plan followed by a Q&A session. Sign up here: https://www.inderes.dk/videos/greenmobility-new-strategy-plan-and-qanda?fbclid=IwAR3IT_vXzesmdr3MJWaybzLcoeivZcavUy5_lkWo5wXEVC7nZZDVs3loMpA

Disclaimer: CEO of HC Andersen Capital, Tue Østergaard, is Chairman of GreenMobility and owns shares in GreenMobility.

You can follow the conversation at the Inderes.dk forum: https://forum.inderes.dk/

Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:15

GreenMobility is a Danish company in the Mobility-as-a-Service space. GreenMobility operates a free-floating carsharing business of more than 1,000 electric vehicles across larger cities in Europe, aspiring to grow this number to around 10,000 in 2025. More than 100,000 people have signed up on the service, and users have access to the GreenMobility cars through the GreenMobility app. With thousands of daily trips, GreenMobility helps reduce congestion in cities with a climate impact. GreenMobility is listed at OMXC Small Cap in Denmark. The share was transferred to the Nasdaq Main Market in December 2020 from Nasdaq First North.