OK Mobility, the global mobility platform, has reported a record 2023 in revenue, reaching €223 million in turnover for the first nine months of the year; an increase of more than 16% versus the same period in 2022. The data was presented by OK Mobility CEO Othman Ktiri at the 4th OK Strategic & Financial Day, held at the company's renovated headquarters in Palma de Mallorca.
Among the data presented, it is worth highlighting the strong growth of the company's mobility services, which, with a turnover of €152 million from January to September, has already exceeded the turnover for the entire 2022, being this figure 21% higher than the same period of the previous year. The rest of the turnover, more than €71 million, comes from the sale of its fleet (remarketing), which the company carries out in more than 15 countries through its own distribution channels.
During the event, which brought together more than 100 representatives from the national and international financial sector, OK Mobility presented a record operating margin, which stood, from January to September, at €110 million, reflecting an increase of 6% versus the same period in 2022. EBITDA stood at €59 million at the end of September, which, according to Francisco Muñoz, Chief Financial Officer of OK Mobility, "demonstrates the resilience of our business model".
A year of positioning and maturity of the business that has been endorsed by the transformation of the company from a Sociedad Limitada (limited liability company) to a Sociedad Anónima (public limited company), with the objective of sophisticating and strengthening its corporate structure and improving its financial capacity. This has also allowed it to increase the maximum balance of its promissory note programme registered on the Alternative Fixed Income Market (MARF) to €150 million.
On the operational side, 2023 is synonymous with expansion for the Mallorca-based company. Expansion in terms of "geographic footprint" at international level, with 70 OK Stores in 15 countries, with the opening of five new markets such as Morocco, France, Turkey, Albania and Romania this year. And expansion also in qualitative terms, having carried out this year a substantial expansion in markets already present, as well as having consolidated its presence in Spain, the company's market of origin, thanks to new openings in the main airports, train stations and city centres of the Spanish capitals.
Othman Ktiri, founder and CEO of OK Mobility Group, said: "OK Mobility is coming off a record year for the company in 2022; and this 2023 we have consolidated our figures and taken a step further thanks to a strong international expansion strategy.” "Despite the fact that the macroeconomic context has not been the most favourable for growth, we have set the path for the future of our company and, in line with our OK on the Road strategic plan, in 2024 we will focus on strengthening this consolidation and growth in a sustainable way." concluded Ktiri.
A successful disruptive business model
This consolidated growth path is a reflection of the company's firm commitment to a disruptive and transformative business model within the mobility sector. In this sense, OK Mobility has established itself as a mobility platform that provides global solutions. On the one hand, through a wide range of available vehicles, from cars and motorbikes to microcars, camper vans, commercial vehicles, vehicles adapted for people with reduced mobility, boats and yachts.
In addition, OK Mobility has seen exponential growth in the services it offers, where in addition to the rental and sale and purchase of vehicles, the company has positioned new services such as subscriptions, a flexible, personalised model that adapts to the mobility demands of users at all times. A commitment to placing customers at the centre of its business strategy, which has resulted in the loyalty of a community that is growing day by day, and which now exceeds 150,000 clubbersor OK Club members.