DonkeyRepublic Holding A/S Publishes H1 2025 Report, Highlighting Strong Growth and Strategic Progress
Company Announcement No. 13 - 2025
2025-H1 financial report
DonkeyRepublic Holding A/S today published its H1 2025 report. The company’s performance was marked by strong growth across key financial and operational metrics, driven by a continued increase in ridership and strategic investments in fleet and technology.
“Our financial performance in the first half of 2025 strengthened significantly. Revenue grew by 25%, EBITDA increased by 79%, and monthly revenue per bike improved by 16% compared to the same period last year. We also made significant progress on our balance sheet: Restructuring loans and reducing debt have lowered our financial expenses and improved the loan-to-value ratio of our fleet. Looking ahead, we remain confident in our ability to achieve our growth and profitability ambitions, supported by our strong strategic tender pipeline," said Thor Möger Pedersen, CEO.
Strategic Highlights & Outlook
- Enhanced Reporting Transparency: The company is providing enhanced transparency in its reporting by introducing a stronger focus on the Last Twelve Months (LTM) period. This approach offers a more comprehensive view of the underlying operational performance by removing the seasonal effect inherent in the business model.
- Strong Regional Performance: The report now includes a detailed breakdown of performance across three key regions: Benelux, DACH, and Nordics. The Benelux region has emerged as the largest by revenue, while the DACH region has demonstrated significant revenue growth and improved contribution margins. In the Nordics, strategic price adjustments led to increased trip volumes and stable revenue despite increased competition.
- Strengthened Balance Sheet: The company significantly improved its financial leverage, with the Adjusted Loan-to-Value (LTV) ratio of its fleet decreasing to 0.5, from 0.7 in H1 2024. This demonstrates a stronger balance sheet and reduced debt linked to the operational fleet.
- Strategic Growth Pipeline: Donkey Republic's strategic tender pipeline continues to support its ambitious 2027 growth targets, reinforcing the company's focus on securing long-term, high-value city partnerships.
KEY PERFORMANCE INDICATORS 2025-Q2 (01 April 2025 - 30 June 2025)
| Metric | Total for 2025-Q2 | Compared to 2024-Q2 |
| Total Revenue | DKK 48.6M | +24% |
| EBITDA | DKK 11.3M | +20% |
| Monthly revenue per bike | DKK 710 | +17% |
| Riders | 327K | +23% |
| Trips | 2.9M | +20% |
| Fleet size (active bikes) | 22.8K | +6% |
KEY PERFORMANCE INDICATORS 2025-H1 (01 January 2025 - 30 June 2025)
| Metric | Total for 2025-H1 | Compared to 2024-H1 |
| Total Revenue | DKK 75.0M | +25% |
| EBITDA | DKK 5.0M | +79% |
| Monthly revenue per bike | DKK 562 | +16% |
| Riders | 414K | +23% |
| Trips | 4.3M | +23% |
| Fleet size (active bikes) | 22.2K | +8% |
Note: Total revenue and EBITDA are unaudited figures.
Join our CEO and CFO for the H1 report webinar
Date: 19 August 2025
Time: 10:00-10.30 (CET)
Hosted by HC Andersen Capital - registration LINK