OK Mobility closes the 2021 financial year with EBITDA in excess of 62 million euros and earnings before interest and tax (EBIT) of 50 millioneuros, once again achieving the best economic results in the company’s history. Figures that consolidate the leading position of the global mobility company as the fastest-growing and most profitable business in its sector in Europe. This is evidenced by the turnover of 400 million euros achieved in 2021.
The results published by OK Mobility confirm the sustainable growth attained by the company throughout its more than 15 years of operation, during which its annual financial results have shown a positive and rising course. In this regard, the CEO of OK Mobility, Othman Ktiri, underlines that “the scaleability of OK Mobility and its two non-cyclical business lines means that the growth of our group has been uninterrupted, in terms of both turnover and profitability, since the company was founded”.
The countries in which OK Mobility has a presence – Spain, Portugal, Italy, France, Germany, and Greece – made a positive contribution to the results. “It’s a fantastic sign that corroborates the scaleability of our business model outside Spainand encourages us to continue our international expansion plan with the greatest of optimism”, Ktiri points out.
Specifically, the figures reveal that one in seven vehicle hires from OK Mobility is carried out at OK Stores outside Spain. At the same time, in the vehicle sales operations managed by OK Mobility in more than 15 countries,75% of the fleet is sold on international markets.
Separately, the company closes the financial year with a debt/EBITDA ratio of less than 2, considerably better than the sector average. For OK Mobility this is “an excellent ratio, bearing in mind that at OK we decided to voluntarily put a brake on sales of the fleet in the last quarter, with the aim of starting the 2022 tourism season from a privileged position given the current microchip shortage, which has turned cars into gold”, according to Ktiri.
At the same time, the company’s financial stability is also evidenced by the fact that debt accounts for only 60% of the net book value of vehicles. This means that the debt is short-term and related to the vehicles, rather than corporate debt, which is non-existent.
The excellent efficiency displayed by the company is also demonstrated by the achievement of an operating margin of 100 million euros, which constitutes 25% of total revenue; this is thanks not only to the company’s disruptive and integrated business model, but also to the flexibilisation of costs, digitalisation of processes and optimisation of revenues thanks to Smart Pricing Management.
Concerning the forecast for 2022, the OK Mobility CEO is confident that the company can “continue to improve our results, as we’ve been doing from the outset, thanks to our #OKontheRoad plan, a roadmap for the coming years, which is based on four central concepts: Vertical integration, Geographical expansion, Digitalisation and Sustainability”.
To this end, the global mobility company is planing for the opening of more than 20 new OK Stores in Spain and overseas, in both urban areas and tourist destinations; the introduction of new vehicles for the mobility range (such as the addition of motorcycles to the fleet); as well as the launch of innovative new mobility technologies. And all under the premise of sustainability.
