Since we launched OmniCarService back in October 2020 we have seen tremendous feedback from our customers after being active for only three months. At this time, we have two fully equipped vans that cover the whole of Copenhagen.

Our Key Performance Indicators (KPI) for the first three months counting from October 2020:

• Growth in number of customers by 45% – average on a monthly basis.
• Growth in revenue by 50% – average on a monthly basis.
• Growth in basket size by 20% – average on a monthly basis.

Some current key figures and facts for our mobile car service:

• Operating cost of around SEK 20.000 excl. manpower per month.
• We can manage 85% of all car repair and service needs.
• One van can today serve 10 customers per day and operate seven days a week.
• Average basket size is currently SEK 2.250 per customer and is set to be growing monthly. Our goal is to hit SEK 3.250 per customer during 2021.

Roadmap, Investment Requirements and KPI Milestones during 2021 and onwards:

• On track to reach an average basket size of SEK 3.250 per customer. In December 2020, the average basket size amounted to SEK 2.300 per customer.
• Customer visits/bookings per day will amount to a total of 5. The corresponding digit in December 2020 amounted to 4,2.
• Days of monthly operations will amount to 22, except for December which will amount to 20 days of monthly operations due to holidays and such.
• Cost per acquired customer will increase to SEK 675 compared to our current figure of SEK 400.
• On track to reach a gross margin of 75%.
• We target a monthly revenue of SEK 405.000 per van.
• During 2021, we will have five fully equipped and operating vans across Denmark.

All above will help us reach a monthly revenue of SEK 405.000 per van which on a yearly rolling basis will amount to roughly SEK 25 million based on five vans during 2021.

Our service targets the private and corporate market and we have not experienced any significant entry barriers. As we have an ‘on-demand service’, COVID-19 has acted as a catalyst by lowering the entry barriers which has helped us grow and expand in a more rapid pace. 

In the private market, car owners are looking for convenience; a trend which we see in other sectors as well (Uber Eats, WashWorld, GoMore, online groceries etc.)

Consumers are looking for financial protection against any unforeseen costs associated with car ownership – with this in mind we will introduce a new total warranty contract concept during Q1 of 2021. As we keep on building our portfolio of customers, services such as road assistance, insurance, targeted marketing offers and predictive maintenance will be introduced and offered.

In the corporate market, fleet owners are keen on saving time and thus spending as little time as possible at the workshop. Leasing companies can benefit from offering service contracts and increasing their margins through our services instead of just offering a leasing contract.

Our goal is to tap into the corporate market during 2021, we have employed sales personnel which has already helped us gain traction with two leasing companies in Denmark.

To summarize;

• We have to date not experienced any significant entry barriers and we have close to 100% customer satisfaction.
• Our KPI has grown tremendously and will keep doing so during 2021.
• We are tapping into a SEK 30 billion market.
• The cost of operation is low and we have a fast mobile workshop implementation which amounts to only three weeks.
• Service contracts will boost our revenue, increase loyalty and reduce cost per lead.
• Our main focus during Q1 will mainly be on our KPI, to maintain and increase it. Launching our service contracts, new warranty products and to expand our IT infrastructure.

This disclosure contains information that Omnicar is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 7th of January 2021

Claus T. Hansen

CEO
cth@omnicar.dk