Business
21:55 21 March 2019
Post by: WBJ

Nextbike net result turns to loss of PLN 0.3 mln

Nextbike reported PLN 0.3 million of net loss in 2018 compared to PLN 4.36 million profit a year earlier, the company said. Revenue grew to PLN  61.24 million in 2018 against PLN 43.51 million y/y. The company attributed the net loss to the growth of operating expenses and increased costs for ongoing servicing and relocation of bicycles. The fleet of bikes grew by 36% to 16,600 in 2018.

CEO Robert Lech reminded that last year the company launched its first bike system abroad in the Finnish city of Turku. He added that geographical expansion remains one of the Nextbike priorities.

(ISBnews)

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