OK Mobility expects to close the 2021 tax year with an EBITDA of more than 50 million Euros and an operating income (EBIT) of more than 36 million Euros. These figures place OK Mobility as one of the fastest growing and highly profitable companies in the sector.
This data was presented by OK Mobility’s CEO, Othman Ktiri, at company headquarters during the II OK Strategic & Financial Day, to around 100 representatives from more than 20 European banking and financial entities, and others who followed the event via streaming.
Once again, these figures demonstrate the resilience capacity of the company’s unique business model, which was also the case in 2020 when the group achieved the best result in the sector in Europe with a positive EBITDA of 17 million Euros and an EBIT of 10 million Euros. “I have spent 10 years defending the fact that OK’s disruptive business model is the most efficient profitable and safe” Ktiri pointed out. “The results achieved last year in the midst of the crisis caused by the pandemic and the figures that we are achieving in 2021, with all the microchip crisis, demonstrate that this model goes far beyond theory and is a reality that is being demonstrated more and more”.
Regarding the current tax year, Ktiri told those present that on the 30 September, OK Mobility’s EBIDTA had exceeded 45 million Euros and the EBIT had exceeded 35 million, exceeding 56% of the accumulated EBIT in the same period of 2019, the year before the pandemic. Ktiri pointed out that “despite the good performance of the second hand vehicle market, the contribution of the rental business to the EBIT is much higher than the EBIT provided by the commercialization of second hand vehicles”.
OK Mobility’s CEO also pointed out that 2021 had seen an upward tendency in vehicle hire prices. “This is a change which responds naturally to the laws of supply and demand and which is here to stay”, confirms Ktiri.
Regarding the estimated end of year figures for the 2021 tax year, Ktiri stated that the company hopes to invoice more than 300 million Euros, with an EBIDTA of more than 50 million Euros and an EBIT of around 36 million Euros.
