Fram Skandinavien

Carmudi continued to improve its EBITDA on a month-on-month basis. The positive EBITDA reached 2 kUSD, which implies a steady improvement from the previous month (also compared to a -16 kUSD loss during the same period last year). The GMV of Carmudi continues to decrease y-on-y, in line with the outlined strategy to focus on bottom-line growth.

In EveHR, November’s EBITDA losses were down to -10.5 kUSD, a 60% reduction of EBITDA-loss compared to the same period last year.

The focus for the group continues to be to bring Carmudi and EveHR to profitability and then further on to generate enough profits to cover group overhead. Investor sentiment for early stage companies continues to be subdued in Southeast Asia.