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Published: 2022-03-07 08:52:46 CET
Elmo Rent
Company Announcement

The turnover of ELMO Rent short-term rental income increased 2.7 times in February compared to last year

The sales turnover of ELMO Rent in February was 46,389 euros (43,266 euros in February 2021, an increase of 7%). Of this, short-term rental income amounted to 44,788 euros, which is almost 2.7 times higher than in the same period of the previous year (16,496 euros in February 2021).

See Graph 1 "Sales revenue with forecast by month"

“We managed to exceed the short-term rental sales forecast. However, as the launch of the taxi service is somewhat delayed, we fell short of our estimated target in total sales revenue. Fortunately, it will not be lost, but will come in the coming months, and with the current developments, we are still on schedule to meet our annual forecasts,” said Enn Laansoo, Jr., Chairman of the Advisory Board of ELMO Rent.

Despite the low season (January-February are the quietest months of the year in the car-sharing sector), the turnover of short-term rentals increased by 5% in February compared to January (42,828 euros in January 2022 versus 44,788 euros in February 2022). But the total sales turnover decreased by 40% compared to the same period (the total sales turnover was 77,462 euros in January 2022, 46,389 euros in February 2022). At the same time, the number of registered new clients increased almost three times compared to the previous year (163 in February 2021, 453 in February 2022).

See Graph 2 "New clients, per month"

With the sales turnover and the addition of new clients, ELMO Rent attaches equal importance to the CO2 emissions saved in the urban space by environmentally friendly cars. In February, ELMO Rent electric cars covered 164,832 km (173,289 km in January 2022), saving more than 23,076 kg of CO2 (24,260 kg of CO2 in January 2022) emissions.

The period of the procurement contract for the operation of Eesti Energia's car fleet also ended in February, what affected the total sales.


More information:

Allan Leppikson

Member of the Management Board



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