Swedish giant micromobility giant Oh It was the first profitable year in 2024, according to the uninterrupted preliminary results, the company shared exclusively with Techcrunch.
VOI, which provides cyclical and cycling programs across more than 100 markets in Europe, recorded 132.8 million euros ($ 138 million) in net revenues in 2024. On the basis of modification, VOI got 17.2 million euros ($ 17.9 million) in profits Before interest, taxes, consumption, extinguishing, and about 100,000 euros (104,000 dollars) in modified profits before interest and taxes (EBIT).
Although the profit of 100,000 euros (average rate) does not seem to be much that he should continue, he told Voi founder and CEO Friedrich Hjelm Techcrunch that the results of the humble company showed VOI’s ability to improve the final result by 100 percentage points a year ago 2021 in A “difficult industry with a lot of climbing and landing.”
Lim, another industry leader, reported the profitability of the entire year in 2023.
“We have now started to show the real positive financial statements and profit profit before interest, taxes and destruction, so we reach a place where we are a good candidate for public markets, for example, from two to three years from now,” he said. .
HJELM also pointed out that the works that revolve around material assets should highlight the profitability of waste before benefits, taxes, depreciation, and consumption on profits before benefits, taxes, destruction and consumption because it is a scale better captures the structure of the operational cost.
Voi did not share other financial information such as net income and operating expenses. Hijelm said the company will issue this information with a more detailed review report at the end of February.
HJELM note that VOI’s vehicle profit margins – which grew to 57 %, increased from 49 % in 2023 – can be considered a “agent” of the company’s total margin.
The Executive Director attributes the improvement of the final result of VOI to a series of cost reduction measures and efficiency improvements such as automation on the side of the product, and the use of automated learning models to operate predictive maintenance or selecting battery exchange schedules. He claimed that this also helped improve his current age for about eight years, who was a “great driver to improve profitability”.
“A thousand small things drip into one thing, and it is really a focus on discipline and obsession with small details,” he said.
He said that the use of vehicles is healthy as well, as the average of each vehicle is up to 10 rounds per day during the peak months and a daily ride outside the peak.
“The first years (from the common Micromobility) were very messy when it comes to the number of players in the market, the accuracy of the site on vehicles, the chaos of parking, and so on,” Holm said. “Over the past three years, we have seen cities ripening and taking what they consider the most suitable players to operate Micromobility in their cities. This has improved public acceptance but also profitability in the minimum for us.”
VOI 2024 has finished 60 million euros ($ 62 million) cash and cash rewards. In October 2024, VOI received 125 million euros from the higher guaranteed bonds (130 million dollars) is mainly supported by institutional investors in the European and American North – a step to start the start of operation, which until then 675.56 million dollars from the shares of VCS, according to Pitchbook data.
“I and my financial manager said at the end of 2021 that we do not want to rely on stock investors anymore, so let’s transfer this profitable company,” he said.
Voi has completed the first clouds of 50 million euros ($ 52 million) of the release of bonds, the money that will go towards helping Voi to expand its fleet and launch it in new markets throughout Europe. Today, Voi calculates about 100,000 cars in its fleet – 90 % of which are motorcycles.
“This year, we are significantly increasing our bicycle fleet during the next two months,” said.
He added: “Raising a general bond is evidence of confidence from very advanced public debt investors.”
When asked if Voi is planning to use any of its money to acquire other companies – there was Rumors that Voi acquires Bolt’s Micromobility HJELM said that there is no definite acquisition offer.
“But I will buy it at the right price,” he said. “The bomb is great, but we do Micromobility better!”
