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Movinn: Impressive unit growth continues

  • Lund added as new market
  • On track to deliver on guidance for 2022
  • We maintain our valuation interval of DKK 11.00 – 14.10 per share

Movinn reported slightly higher revenues than expected for their Q3 2022. They keep outperforming their growth targets which resulted in an upwards revision of their expected units in Denmark by the end of 2022. During the quarter Movinn successfully added a new market to their portfolio, Lund. Furthermore, the company has also laid the legal groundwork for a future launch in Germany. No major long-term adjustments were made in our model which is why we maintain our valuation interval of DKK 11.00 – 14.10 per share.

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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 2022-11-09, kl 09:00
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