Middle East conflict forces car-sharing firm GreenMobility to lower revenue expectations

Danish electric car-sharing service GreenMobility has revised down its revenue growth expectations for the year, citing global supply chain disruptions, particularly those stemming from the closure of the Strait of Hormuz. The company now anticipates a revenue growth of 5-9%, a decrease from its earlier projection of 8-12%.

The disruption in the critical Strait of Hormuz, a key chokepoint for global trade located between the Persian Gulf and the Gulf of Oman, has directly impacted GreenMobility's operations. Iran's temporary closure of the strait, part of ongoing regional conflicts, has delayed the delivery of new vehicles. Consequently, the full benefits of the company's fleet expansion are now expected to materialize in the latter half of 2026.

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Global supply chain disruptions as a result of the closure of the Strait of Hormuz have delayed vehicle deliveries, pushing the full effect of the fleet expansion to the second half of 2026.

In addition to the geopolitical impacts, GreenMobility also faces localized challenges. Road construction in some of Copenhagen's busiest areas has temporarily restricted access to its vehicles. Furthermore, the company is experiencing increased competition from taxi services, adding pressure to its market position.

Despite the downward revision in revenue forecasts, GreenMobility remains optimistic about its profitability. The company has reaffirmed its operating profit growth expectations, projecting a range of 12-16%. This confidence is supported by the company's financial performance in the first half of 2026, where revenue increased by 4% year-on-year to 77.2 million Danish kroner, and net profit more than doubled to 12.5 million kroner. However, the second quarter alone showed only marginal revenue growth, which the company's CEO, Kasper Gjedsted, described as "disappointing."

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disappointing