Freetrailer now expects revenue of DKK 94 – 104 million and EBITDA of DKK 14 – 17 million.
The expected revenue for 2023/24 is revised upwards to DKK 94 – 104 million. At the release of the Q1 2023/24 interim report on 29 November, it was expected that revenue for 2023/24 would be DKK 90 – 100 million. For the financial year 2022/23, Freetrailer achieved revenue of DKK 75.1 million. The updated guidance corresponds to an expected revenue growth of 25 – 38 per cent.
The EBITDA guidance is revised upwards to DKK 14 – 17 million (previously DKK 10 – 14 million). Freetrailer achieved an EBITDA of DKK 8.1 million in the financial year 2022/23. The new guidance corresponds to an expected growth in EBITDA of 72 – 110 per cent.
The upward adjustment is due to a number of new partner agreements and expansion of agreements with several of Freetrailer’s existing partners. Freetrailer’s fleet of rental products has reached 4,600 and the company has more than 100 rental products on order for delivery by 30 June 2024. The improved EBITDA is a result of better utilisation and placement of the trailer fleet.
At the same time, customer demand for Freetrailer’s sharing economy solution is increasing. Freetrailer has maintained growth in rentals in the beginning of 2024, even though it is traditionally our most challenging season.
Nicolai Frisch, Group CEO of Freetrailer, said:
"A huge team effort at Freetrailer, with a constant focus on improving our solutions for our partners and customers, is a major reason why we are now able to increase our expectations for 2023/24. We have developed a market-leading app that is downloaded by more than 25,000 users every month. With over 500,000 active customers on our platform and 133 partners, we are well into 2024."
The adjusted guidance is based on the Swedish krona and Norwegian krone remaining at current levels until 30 June 2024.
Freetrailer’s half-year report is expected to be published on Thursday 29 February 2024, where we will comment further on our figures.
For further information about Freetrailer Group A/S please contact
Nicolai Frisch Erichsen, CEO, Freetrailer
E-mail: Nicolai.frisch@freetrailer.com
Phone: +45 26 81 81 28
About Freetrailer Group A/S in brief
Freetrailer Group is a Danish technology company whose mission is to make it easy to book and rent a trailer for free via a sharing economy IT platform.
With a 100 percent self-service solution via the Freetrailer App and the electronic lock, Freetrailer’s Partners and their customers are given full flexibility, and today more than five million people have made use of Freetrailer’s service.
Freetrailer works with a two-part growth plan, where strengthening the existing domestic markets is one leg and further internationalization of the concept is the other.
Facts:
+125 partners
+1,100 pick-up points
+4,500 trailers
+1,000,000 rentals
Today, Freetrailer Group has a scalable business concept based on an innovative IT platform with global potential. Freetrailer Group A/S was listed on Spotlight Stock Market in 2018.
Ticker code: FREETR
