Press releases, PRESS OFFICE

OK Mobility Group achieves a record turnover of € 191 MM in its Mobility Services division in 2023

Mar 12, 2024
  • This figure represents an increase of 27 % in its mobility services turnover vs. 2022.
  • Between its Mobility Services and Pre-Owned Vehicles division, the company has exceeded € 310 million in total turnover.
  • With a well-defined expansion strategy and a constantly growing global presence, OK Mobility expects to reach € 500 million in revenues in 2024.

OK Mobility, the global mobility platform, announces its financial results for 2023, reaching a record turnover of € 191 million for its Mobility Services division, which includes vehicle rental and subscription.

This figure represents a growth of 27 % vs the 2022 financial year, where the company highlights the exceptional increase in the subscription segment, a flexible model that adapts to the mobility demands of customers at all times. In fact, between January and September 2023, OK Mobility's Mobility Services division had already surpassed the total turnover of the previous year.

Overall, the Spanish company has exceeded € 310 million in turnover between its Mobility Services and Pre-Owned Vehicles divisions, of which 119 million come from the sale of its fleet, which the company carries out in over 15 countries through its own distribution channels. These figures reflect the company's commitment to operational excellence, innovation and adaptability in a challenging business environment.

2023 was a year of consolidation and growth for OK Mobility Group globally. Despite economic challenges, the company maintained a solid operating margin of € 134 million and an EBITDA of  € 62 million, demonstrating its ability to adapt to a challenging year for the industry.

In addition, over the past year, OK Mobility has experienced significant international growth, expanding its presence to 15 countries, through a network comprising more than 70 OK Stores, highlighting its entry into five new key markets: Morocco, France, Turkey, Albaniaand Romania. In the same way, the company has continued to consolidate its position in Spain through new openings in strategic locations such as airports, train stations and urbancentres.

OK Mobility CEO Othman Ktiri, has assured that: “Taking into account the economic-financial efforts that our expansion has entailed and the exceptionally adverse scenario of 2023 in terms of vehicle purchases, we can be satisfied with our result. 2023 has been a year of professionalisation, transition and expansion that allows us to approach 2024 ready to continue with our marked path of profitable growth.”

Looking ahead, OK Mobility Group is committed to complying with its Strategic Plan #OKontheRoad, having achieved a solid position to continue growing. In addition, with an already established brand, an OK Team made up of more than 850 professionals, a well-defined expansion strategy and a constantly growing global presence, the company expects to achieve revenues of € 500 million in 2024.

2023 has also featured important achievements, including the transformation of OK Mobility Group into a public limited company, which has allowed the group to strengthen its corporate structure and financial capability. In addition, the company expanded its promissory note programme in the Alternative Fixed Income Market (MARF), demonstrating its commitment to financial diversification and its ability to attract solid investments.