In November the short-term rental income of ELMO amounted to 59,836 euros, which is 1% lower than in the same period of the previous year (60,700 euros in November 2021). The total sales turnover was 73% higher with 124 185 euros (the turnover of November 2021 was a total of 71,700 euros, a increase of 73%). ELMO launched new app and changed business model, what increased usage the last days of November.

In comparison to the October result, the turnover of short-term rentals decreased by 23% in the last month (77,471 euros in October 2022 vs. 59,836 euros in November 2022), what is expected due to the low season. The sales turnover in November included short-term rental, resale of electric cars with the aim of bringing those cars back to rent and revenue from the sale of electric motorcycles.

The number of registered new clients increased by 2% comparing to month before (516 in October 2022).

„In November, as a result of long development and work, we implemented a new app and changed Elmo’s service logic, which are prerequisites for reaching the street with remote-controlled cars, but now we have to get the team’s focus back on short-term rental KPIs as well,” said Enn Laansoo, Jr. CEO of ELMO.

On November 24, a new app was launched with a new service logic that makes renting electric cars even more convenient for customers. If until now the ELMO service operated on the basis of rental points, now the customer can order a car in front of his home or office door and later leave it at a suitable place on the streets of Tallinn or Tartu (free float). See the corresponding stock exchange announcement here https://view.news.eu.nasdaq.com/view?id=b725c5f55ab3d0a6f8581fe2a2fc3d885&lang=en.  ELMO’s activities in November have received active coverage both in Estonia and abroad (e.g. ERR’s interview with AK news, see https://www.err.ee/1608799978/elmo-rendiautod-hakkavad-kliendini-soitma-kauggehähse-teel or Forbes magazine’s article, see https://www.forbes.fr/business/focus-tech-elmo-telecommande-des-voitures-electriques-a-distance/)

With the sales turnover and the addition of new clients, ELMO attaches equal importance to the CO2 emissions saved in the urban space by environmentally friendly cars. In November, ELMO`s electric cars covered 233,791 km (315,442 km in October 2022), saving more than 28,523kg CO2 (38,484 kg CO2 in October 2022) emissions.