Whoosh increased revenue in the first half of the year by 42% to 6.3 billion rubles

Kicksharing’s EBITDA amounted to 2.8 billion rubles, up 36% year-on-year. The profitability of the indicator was 44%.

The company also recorded a net profit of 259 million rubles for the period.

Net debt as of June 30, 2024 amounted to RUB 10.4 billion, and the ratio of net debt to EBITDA for the last 12 months was twice as high.

“We have invested heavily in expanding the fleet: over the year it increased by 50% to 200 thousand units. At the same time, the net debt/EBITDA ratio of 12 million is at the low 2x level,” said Whoosh CFO Alexander Sinyavsky, as quoted in the press service.

The share of the company’s foreign business has more than doubled: from 4% to 9.4% of the group’s revenue. According to Sinyavsky, Whoosh is pursuing its development strategy outside the Russian Federation, “particularly in the very promising market of South America.”

• Whoosh develops technological solutions for micromobility transport and is one of the largest Russian operators of eponymous ride-sharing taxis.
• The parent company PJSC VUSH Holding held an initial public offering (IPO) in December 2022, during which it raised 2.1 billion rubles.
• In November 2023, Whoosh shareholders approved a dividend program. For the nine months of 2023, the company paid investors 1.14 billion rubles.
• In the same month, the board of directors of VUSH Holding approved the buyback program. At the end of March 2024, the company bought back shares worth 60 million rubles within the framework of the program.