Västra Hamnen Corp. Finance

• 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.

The full report is available here.