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Third party research

Movinn: Growing domestically and abroad - VH Corp

Movinn

This is a third party research report and does not necessarily reflect our views or values

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* First international launch in Sweden completed
* Strong domestic unit growth leads to upward revision of guidance
* We maintain our valuation interval of DKK 11.00 – 14.10 per share

Movinn’s report for Q2 2022 showcased higher revenues than expected as well as
continued domestic growth. The first international launch was also completed
during the quarter, with 33 new units added in Malmö, Sweden. Movinn has
revised their pipeline for existing markets upwards and expects to end the
year with 375-385 units in Denmark. No major model changes have been made and
we therefore keep our valuation interval unchanged at DKK 11.00 – 14.10 per
share.
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