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Movinn: Executing the long-term strategy

  • Exceeding previously guided growth targets for 2022
  • Added 142 new units across all markets for the year
  • Our model implies a fair valuation of DKK 11.60 per share

Movinn reported an annual revenue for 2022 in line with our expectations, corresponding to a growth of 30 percent compared to 2021. The company also increased the number of units by 142, thus outperforming its targets in both regards. Due to the launch of two new markets in Sweden incurring large investments, and rising costs in general, EBIT and net profit came in lower than expected. We only make minor short-term adjustments in our model resulting in a fair value of DKK 11.60 per share.

The full report is available here.

About Market Focus

The research report is prepared as part of Market Focus, Västra Hamnen Corporate Finance's commissioned research offering.

This is a press release from Västra Hamnen Corporate Finance AB. 
Web: vhcorp.se
Twitter: @vhcorp_se (https://twitter.com/vhcorp_se)

Datum 2023-04-04, kl 08:30
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