Danish bike rental company DonkeyRepublic Holding A/S (6UJ.F) said on Monday that it is lowering its fiscal 2025 EBITDA and EBIT outlook from the earlier one announced in January. The downgrade is mainly due to delayed bike deployments in new cities and lesser number of licenses being issued in the Netherlands.
The company now expects annual EBITDA between 22 million Danish Kroner and 32 million Danish Kroner, down from the earlier range between 27 million Danish Kroner and 37 million Danish Kroner. Full-year EBIT is now expected between negative 5 million Danish Kroner and 2 million Danish Kroner, lower than the previous range of 1 million Danish Kroner and 6 million Danish Kroner.
According to the company, revenue is now expected to fall within the lower half of the previously announced range of 165 million Danish Kroner and 185 million Danish Kroner.
DonkeyRepublic said that although bikes from Rotterdam and Amsterdam are being redeployed elsewhere, this move is insufficient to offset the negative margin impact from the Dutch license reductions. Additionally, prolonged tender processes for key strategic city contracts have delayed planned bike deployments in the second half of the year.
The company said that despite the ongoing challenges, it is optimistic about securing new contracts and has retained the necessary operational capabilities to support future expansion of the business. A further clarity on contract timelines is expected in the third quarter, DonkeyRepublic added.
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