• Higher revenue than expected
• Set for Malmö launch in Q2
• We maintain our valuation interval of DKK 11.00 – 14.10 per share

Movinn’s report for the first quarter of 2022 showcased a stronger revenue and a higher number of units than expected. Despite Q1 historically being a weak quarter, almost 75 percent of 2022 year’s pipeline is secured already. Furthermore, the company is set to launch in Malmö during Q2 with expansions into Germany and a new Danish city being considered. The company continues to grow in line with expectations and we therefore maintain our valuation interval.

The full report is available here.