Interim report
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1 Movinn A/S - Orient Plads 1A, DK-2150 Nordhavn - CVR no. 36416432 Financial period: 1 January 2026 - 30 June 2026 Interim Report H1 2026
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2 Content This report contains forward-looking statements, including financial guidance, which are subject to both known and unknown risks and uncertainties. Such statements are based on management’s current expectations and assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Factors that could cause such differences include, but are not limited to, macroeconomic conditions, market developments, regulatory changes, and other external factors beyond Movinn’s control. Movinn undertakes no obligation to update or revise forward-looking statements, except as required by law. Patrick Blok - CEO pb@movinn.dk Andreas Bækgaard Thaning – CFO abt@movinn.dk HC Andersen Capital - Certified Adviser Bredgade 23B 1260 Copenhagen All listed figures are in Danish Kroner (DKK). Disclaimer – forward looking statements Contacts for further information C o m p a n y i n f o r m a t i o n 3 H i g h l i g h t s 4 A message from our CEO 5 Shareholder information & investor relations 6 Business & performance 7 F i n a n c i a l s t a t e m e n t s 1 0 C o n t a c t s 1 6 D e fi n i t i o n s 1 7
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3 Company information Company Movinn A/S - Orient Plads 1A, 2150 Nordhavn CVR no. 36416432 Foundation 27 October 2014 Financial period 1 January 2026 – 30 June 2026 Board of directors Jacob Erik Holm (chairman) Jesper Thaning (Founder) Christian Dalum Christian Fredensborg Jakobsen Executive management Patrick Blok, CEO Andreas Bækgaard Thaning, CFO Auditors PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44, 2900 Hellerup About Movinn Movinn is a leading provider of serviced living solutions, offering high-quality, fully furnished and serviced apartments and aparthotels in Denmark and Sweden. Since our founding in 2014, we have been focusing on making temporary housing easy, flexible, and hassle-free for individuals and corporations. We operate across multiple cities, catering primarily to corporate clients and professionals in need of medium- and long-term housing solutions. Our portfolio includes serviced apartments, co-living spaces, a hotel, and an upcoming aparthotel. At Movinn, technology plays a central role in our business. We develop our own in-house technology solutions to optimise operations, enhance the customer experience, and support our continued expansion. Our proprietary platforms streamline everything from booking and customer communication to property management, ensuring efficiency and scalability. Looking ahead, our strategy is focusing on strengthening our core business, improving profitability and driving sustainable growth. By leveraging innovation and maintaining a strong commitment to quality, we aim to solidify our position as a trusted partner and leader in the serviced living industry. Mission We make high-quality serviced living seamless and accessible by combining high-quality products, flexibility, and technology to enhance customer experience. Vision To be an industry leader in serviced living, known for professionalism, quality and innovation. Value Transparency: what you see is what you get. Dedication: passion drives us and we train our staff to deliver exceptional service. Innovation: continuously improving through technology.
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4 Highlights Consolidated, DKK ’000 Financial highlights H1 2026 H1 2025 Change (%) Q2 2026 Net revenue 41,811 44,672 (6.4%) 22,015 EBITDA (1,205) (1,688) 28.6% 812 EBIT (2,517) (4,224) 40.4% 157 Financial items, net (636) (609) 4.5% (323) Profit/loss for the period (3,154) (4,833) 34.7% (166) Equity 5,312 11,067 (52.0%) 5,312 Total balance 38,984 42,444 (8.2%) 38,984 Cash flow from operating activities (2,135) (402) (431.2%) 111 Cash flow from investing activities (12) (949) 98.7% 91 - of which investments in tangible assets (34) (155) 78.1% (64) Cash flow from financing activities 711 3,057 (76.7%) 90 Cash, closing balance (4,829) (4,127) (17.0%) (4,829) Financial ratios Revenue growth (6.4%) 1.4% (9.3%)* EBITDA margin (2.9%) (3.8%) 3.7% EBIT margin (6.0%) (9.5%) 0.7% ROIC (7.7%) (15.9%) 0.5% Cash conversion ratio n.m. n.m. 13.8% Equity ratio 13.6% 26.1% 13.6% Operational highlights Number of units 376 467 (19.5%) 376 Revenue per unit 222 191 16.2% 234 Average vacancy 20.4% 17.3% 3.1 p.p. 16.5% * Compared to Q2 2025.
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5 A message from our CEO A half-year of transition Net revenue was DKK 41.8 million, down from DKK 44.7 million in the same period last year. The decline is a direct consequence of our strategy, and it is smaller than the reduction in capacity behind it: our portfolio is 19.5% smaller in number of units, while revenue is down 6.4%. Revenue per unit grew by 16.2% year-on-year to tDKK 222 annualised. EBITDA improved by DKK 0.5 million to DKK -1.2 million. EBIT improved by DKK 1.7 million, where DKK 1.2 million of this improvement stems from lower depreciation and amortisation, primarily the change in depreciation profile implemented at the end of 2025. In the second quarter of 2026, we delivered positive EBITDA of DKK 0.8 million and positive EBIT, achieved while still carrying costs related to the restructuring of both our portfolio and our organisation. A more focused portfolio Besides the exit from Odense, we decided in H1 2026 to exit Västerås, a smaller secondary market in Sweden, as the market was consistently underperforming, and it absorbed management attention out of proportion to its contribution. The units are expected to be returned during Q3. Our exit from Odense is still expected to be completed at the end of Q3 2026. The logic is the same in Odense and Västerås: concentrate the business where demand is stable, where we have scale, and where margins are healthy. At the same time, we added capacity in Copenhagen, with the 10 newly renovated units onboarded in Q1 being fully operational. Financials and guidance At the end of H1 2026, we had drawn DKK 4.8 million of our DKK 10 million credit facility, leaving DKK 5.2 million in immediately accessible liquidity. As announced on 25 August 2026, we have revised our full-year guidance for 2026 to net revenue of DKK 83-85 million, EBITDA of DKK (0.5)-1.5 million and EBIT of DKK (3.0) to (1.0) million. The guidance range has been lowered, reflecting a higher vacancy level than assumed in the original guidance as well as the decision made in H1 to exit the smaller secondary Swedish market, Västerås. Looking ahead We have lowered our financial guidance, but margins and revenue per unit are moving in the right direction, so we are confident that 2026 continues to improve EBITDA for the full year - but the level is lower than expected earlier this year. Posting a loss in H1 and lowering our guidance at the half-year mark is not where we wanted to be. The second half of the year is about continuing to improve occupancy levels in our main markets and completing the exits from Odense and Västerås, as well as preparing the organisation for the upcoming aparthotel in Copenhagen, which remains on schedule to open in mid-2027. Patrick Blok CEO
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6 Owner (above 5% ownership) No. of shares Ownership (%) Mac-Invest ApS Controlled by Jesper Thaning (Founder & Board Member) 9,324,150 55.7 Raymond Blok Holding ApS Controlled by Patrick Blok (CEO) 2,783,325 16.6 Dane Capital ApS Controlled by Christian Dalum (board member) 1,809,200 10.8 Share data Share capital 669,442 Number of shares 16,735,542 Exchange Nasdaq Copenhagen ISIN Code DK0061555539 Abbreviated MOVINN Market Nasdaq First North Growth Market Copenhagen Share price, 30 June 2026 DKK 1.26 2026 financial calendar Annual Report 2025 27 March 2026 Q1 Interim Report 8 May 2026 General Assembly 20 May 2026 H1 Interim Report 28 August 2026 Q3 Interim Report 13 November 2026 Shareholder information & investor relations Movinn is committed to maintaining an open and transparent dialogue with its shareholders and the broader investor community. As a company listed on Nasdaq First North, we ensure that investors have access to relevant financial and strategic updates. Shareholder structure and trading As of 30 June 2026, Movinn has 240 identifiable registered shareholders, collectively holding 98.1% of the total share capital. The board of directors and executive management collectively own 83.6%. Movinn’s share capital consists of 16,735,542 shares, each carrying one vote, and all shares are freely transferable. The company maintains an updated shareholder register through VP Securities. On 30 June 2026, Movinn’s share price closed at DKK 1.26, down 1.6% year-to- date (DKK 1.28 at year-end 2025) and down 43.2% over the last 12 months (DKK 2.22 on 30 June 2025). The share price on 30 June 2026 corresponds to a market capitalisation of DKK 21.1 million. Investor communication Movinn prioritises clear and timely investor communications. Financial reports, company announcements, and other relevant updates are published on our investor relations website and distributed via Modular Finance. Additionally, we host webinars following financial publications, ensuring an open forum for investor inquiries. We provide financial guidance on an annual basis in our reports, supplemented by follow-ups in interim reporting or ongoing, if deemed necessary. Movinn was admitted to trading on Nasdaq First North Growth Market in November 2021 and complies with all relevant regulations. The company’s strategy prioritises reinvestment, meaning dividend payments are not expected in the short term. This policy will be reassessed as strategic milestones are achieved to ensure optimal capital allocation. By maintaining strong investor relations and structured shareholders engagement, Movinn ensures that investors remain well- informed and aligned with the company’s long-term vision and strategic direction.
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7 Business & performance Our business 8 O u r s t r a t e g y 9
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8 Our business 34.0 41.3 44.0 44.7 41.8 Revenue (mDKK) H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 381 444 448 467 376 Number of units H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Business segments Movinn provides three distinct offerings within the serviced living sector. Serviced apartments: As Movinn’s core business, we offer high-quality, fully furnished and serviced apartments that provide flexibility and convenience. Our goal is to facilitate a seamless transition for individuals relocating to Movinn destinations, ensuring a premium temporary accommodation experience. Coliving: A specialised extension of our serviced apartments, our premium co-living spaces offer plug-and-play solutions that promote sustainability through shared serviced apartments. These communities are designed to foster social connections, helping newcomers integrate and combat loneliness in Movinn destinations. Hotel / aparthotel: Movinn’s high-quality hotel provides exceptional service with a plug-and-play approach. Our accommodations are designed to deliver a seamless and comfortable experience. This is the newest addition to our portfolio, with Hotel TwentySix being the first hotel in this segment, and the 95-unit aparthotel in our pipeline will be another addition to this business segment. Units As of 30 June 2026, Movinn’s portfolio consisted of 376 units, compared to 467 units at the end of H1 2025, representing a net decline of 91 (19.5%) of units in the period, reflecting our exit from Odense and ongoing downscaling in smaller and more immature markets, including Västerås which we decided in H1 2026 to exit during Q3 2026. During Q1, we started onboarding a new property of 10 newly renovated units in Copenhagen, and the property was fully operational at the end of H1 2026. This reflects our strategy to move our growth and focus to larger cities with bigger scaling opportunities. We continuously monitor portfolio performance by tracking key performance indicators and through data-driven insights, we proactively adjust our operations and strategy to enhance overall portfolio performance and respond effectively to market dynamics. In-house technology development Movinn’s in-house technology supports a lean and scalable business model. Our proprietary platform simplifies booking processes, order management, billing, and communication, reducing complexity for both customers and partners. Velocity Pro, Movinn’s in-house developed booking management platform for external partners, improves operational efficiency, lowers administrative costs and supports scalable growth in Movinn’s core markets.
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9 Our strategy Reducing complexity Operational excellence and financial performance Outlook and financial guidance Our strategy in simple terms Movinn’s strategy is built around a clear ambition to strengthen the core business, reduce complexity and focus growth where scale and demand support profitability. In practice, this means: • Focusing on fewer, larger cities • Scaling the business where demand is stable and recurring • Simplifying operations and improving execution • Prioritising profitability and earnings predictability Movinn is simplifying the business and reducing exposure to smaller and less scalable markets. Experience from 2025 showed that not all markets deliver the stability required to support attractive long-term returns. Where we focus Large cities and metropolitan areas are central to Movinn’s strategy, as they combine high mobility, a broad customer base and recurring demand for temporary living. • Copenhagen is Movinn’s key market and the primary driver of growth and profitability. • Together with Malmö, it forms the core of Movinn’s presence in the Øresund Region. • The upcoming Copenhagen aparthotel is a key step in scaling the business in large urban markets • Aarhus remains part of the portfolio at a reduced footprint, sized to the level of demand we see as stable in the market. In Copenhagen, portfolio optimisation continues alongside the exits from secondary markets. We expect to return 10 units at the end of 2026 and a further 10 during H1 2027. These units have underperformed on both vacancy and margins, in part driven by their rent level, and returning them will contribute to strengthening the earnings profile of our largest market. Besides these adjustments, new capacity is added in Copenhagen only. This reflects an ongoing focus on optimising our portfolio, earnings profile and commercial execution across our core markets. Concentrating activities in our core markets creates scale advantages. A larger and more concentrated portfolio supports stronger brand visibility, better pricing discipline and more efficient use of central resources. Besides, the strategy in the near future is to prepare for the upcoming aparthotel in Copenhagen. In Sweden, efforts are directed toward improving profitability through more disciplined cost management and targeted business partnerships to support demand as well as centralising our commercial efforts more to create important synergies between our markets. Liquidity Movinn’s net change in cash flow was DKK -1.4 million during H1 2026, down from DKK 1.7 million compared to the same period last year. At the end of H1 2026, Movinn had drawn DKK 4.8 million of its DKK 10 million credit facility, leaving DKK 5.2 million in immediately accessible liquidity. Financial guidance On 25 August 2026, Movinn revised its full-year guidance for 2026 to net revenue of DKK 83-85 million, EBITDA of DKK (0.5)-1.5 million and EBIT of DKK (3.0) to (1.0) million, from net revenue of DKK 86-89 million, EBITDA of DKK 1-4 million and EBIT of DKK -1.5 to 1.5 million. The revision reflects a higher vacancy level than assumed in the original guidance as well as the decision made in H1 to exit the smaller secondary Swedish market, Västerås. The guidance implies EBITDA of DKK 0.7 to 2.7 million in the second half of the year, against DKK -1.2 million in the first half. The step-up rests on three main factors: • Completion of exits: Odense and Västerås are expected to be completed in Q3 2026, removing their cost drag from the run rate for the remainder of the year. • Less one-off restructuring costs: The costs related to restructuring our portfolio and organisation are not expected to recur at the same level. • Occupancy: Secured revenue for the coming months supports an improvement in vacancy levels in our core markets compared to H1 2026. 2026 focus continues to be on lower revenue in the near short term following portfolio optimisation and focus on improved margins and earnings. Financial guidance 2026 mDKK Initial Updated Revenue 86.0 - 89.0 83.0 - 85.0 EBITDA 1.0 - 4.0 (0.5) - 1.5 EBIT (1.5) - 1.5 (3.0) - (1.0)
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10 Financial statements Income statement 11 B a l a n c e s h e e t 1 2 Cash flow statement 13 Change in equity 14 Management’s statement 15
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11 Income statement DKK ’000 Group H1 2026 H1 2025 Q2 2026 Net revenue 41,811 44,672 22,015 Cost of sales (32,458) (36,174) (16,045) Work carried out at own expenses and capitalised as assets 327 476 177 Other external expenses (2,876) (2,626) (1,395) Gross profit 6,804 6,349 4,752 Staff costs (8,009) (8,037) (3,940) Depreciation and amortisation (1,312) (2,536) (655) Operating profit (EBIT) (2,517) (4,224) 157 Income from ownership in subsidiaries - - - Financial income - - - Financial expenses (636) (609) (323) Profit before tax (3,154) (4,833) (166) Tax - -* - Profit/loss for the period (3,154) (4,833) (166) *The H1 2025 comparative figure has been restated to reverse a previously recognised deferred tax asset of tDKK 1,063, reducing the reported result for H1 2025 from tDKK (3,770) to tDKK (4,833).
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12 Balance sheet Assets Group Liabilities Group DKK ’000 H1 2026 H1 2025 DKK ’000 H1 2026 H1 2025 Goodwill - 214 Share capital 669 669 IT-development 4,095 4,110 Retained earnings 1,312 6,736 Total intangible assets 4,095 4,324 Reserve for development costs 3,331 3,662 Property, plant and equipment 11,354 13,729 Equity 5,312 11,067 Total tangible assets 11,354 13,729 Long-term debts 15,544 14,588 Security deposits (apartments) 15,259 16,220 Long-term liabilities 15,544 14,588 Security deposits (other) 502 565 Total financial assets 15,761 16,785 Short-term debts 2,286 2,286 Credit institutions 4,829 4,127 Total fixed assets 31,210 34,838 Deposits and prepayments 8,611 8,260 Trade creditors 580 677 Inventory 1,953 1,702 Other debts 1,822 1,439 Trade receivables 1,044 2,112 Current liabilities 18,128 16,789 Deferred taxes 2,172 2,259 Other receivables 1,155 1,006 Prepayments 1,450 527 Total current assets 7,774 7,606 Total liabilities 33,672 31,377 Total assets 38,984 42,444 Equity and liabilities 38,984 42,444
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13 Cash flow statement DKK ’000 H1 2026 H1 2025 Q2 2026 Operating profit/loss (EBIT) (2,517) (4,224) 157 Depreciation and amortisation 1,312 2,536 655 Change in net working capital (294) 1,894 (378) Financial income - - - Financial expenses (636) (609) (323) Cash flow from operating activities (2,135) (402) 111 Investments in intangible assets (406) (481) (214) Investments in tangible assets (34) (155) (64) Net investments in security deposits 428 (313) 369 Sale of tangible assets - - - Cash flow from investing activities (12) (949) 91 Net change in short-term interest-bearing debt - 4 - Net change in long-term interest-bearing debt 711 3,053 90 Cash flow from financing activities 711 3,057 90 Net change in cash flow (1,436) 1,706 292 Credit facilities utilized - (10,000) - Currency adjustments of cash and cash equivalents 9 30 3 Cash, opening balance (3,402) 4,137 (5,124) Cash, closing balance (4,829) (4,127) (4,829)
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14 Change in equity DKK ’000 Share capital Reserve for development costs Retained earnings Total Equity 1 January 2025 669 3,288 11,948 15,905 Development costs for the year - 729 (729) - Depreciation and amortisation for the year - (655) 655 - Gain / loss from currency fluctuations from foreign entities - - (48) (48) Profit/loss for the year - - (7,443) (7,443) Equity 31 December 2025 669 3,362 4,383 8,414 H1 2026 Development costs for the period - 406 (406) - Depreciation and amortisation for the period - (437) 437 - Gain / loss from currency fluctuations from foreign entities - - 52 52 Profit/loss for the period - - (3,154) (3,154) Equity 30 June 2026 669 3,331 1,312 5,312
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15 Management’s statement The Board of Directors and Executive Management have processed and approved the Interim Report for the first half of 2026 (1 January - 30 June) for Movinn A/S. The Interim Report has been made in accordance with the Danish Financial Statements Act and additional disclosure requirements for companies listed on Nasdaq First North Denmark. It is the assessment of the Board of Directors and Executive Management that the financial statements give a true and fair view of the company’s financial position on 30 June 2026 and of the results of the company’s operations and cash flows for the period 1 January to 30 June 2026. The Interim Report has not been subject to audit or review. Copenhagen, 28 August 2026 Executive Management Patrick Blok CEO Andreas Bækgaard Thaning CFO Board of Directors Jacob Erik Holm Chairman Christian Fredensborg Jakobsen Board member Christian Dalum Board member Jesper Thaning Founder & Board member
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16 Contacts Patrick Blok - CEO pb@movinn.dk Andreas Bækgaard Thaning – CFO abt@movinn.dk HC Andersen Capital - Certified Adviser Bredgade 23B 1260 Copenhagen Contacts for further information
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17 Definitions Metric Definition Net revenue Income from rental of serviced apartments and hotels as well as related services, recognised in the income statement in accordance with the Danish Financial Statements Act (Årsregnskabsloven). EBITDA Earnings before interest, tax, depreciation, and amortisation. EBIT Operating profit before financial income and expenses. Profit before tax Profit before tax for the period. Profit/loss for the period Profit after tax for the period. Revenue growth Net revenue for the period compared to net revenue for the correspon- ding period of the previous year, expressed as a percentage. EBITDA margin EBITDA as a percentage of net revenue. EBIT margin EBIT as a percentage of net revenue. Equity ratio Equity as a percentage of total assets. ROIC Return on invested capital ROIC = NOPLAT / invested capital. NOPLAT Net operating profit less adjusted taxes. Invested capital Total operating assets less non-interest-bearing operating liabilities. Cash conversion ratio Cash flow from operating activities divided by EBITDA. Number of units Number of active units at the end of period. Revenue per unit Revenue for the period divided by number of units at the end of period (annualised). Average vacancy Empty days in the period divided by total rentable days in the period.