The turnover of ELMO Rent short-term rental income increased 1.4 times in October compared to last year
In October the short-term rental income of ELMO Rent amounted to 77,471 euros, which is 1.4 times higher than in the same period of the previous year (54,339 euros in October 2021). The total sales turnover was one of the highest in emitents history 258,254 euros (the turnover of October 2021 also included the turnover of the procurement of the fleet management service and was a total of 321,386 euros, a decrease of 20% comparing to emitents highest historical revenue).
In comparison to the September result, the turnover of short-term rentals decreased by 1% in the last month (78,341 euros in September 2022 vs. 77,471 euros in October 2022), which is a good result considering that it is the beginning of the low season. However, in comparison with the same time period, the total sales turnover increased by 36% (the total sales turnover was 189,616 euros in September 2022 and 258,254 euros in October 2022). The sales turnover in October includes short-term rental and revenue from the sale of electric motorcycles resulting from the end of the season, and the resale of electric cars with the aim of bringing those cars back to rent.
The number of registered new clients decreased by 35% compared to the previous year (798 in October 2021, 516 in October 2022) but increased by 6% comparing to month before (489 in September 2022). The main reason for decrease has been testing of new app and registration process, what has brought out IT-system related obstacles.
With the sales turnover and the addition of new clients, ELMO Rent attaches equal importance to the CO2 emissions saved in the urban space by environmentally friendly cars. In October, ELMO Rent electric cars covered 315,442 km (301,089 km in September 2022, an increase 4%), saving more than 38,484 kg CO2 (36,733 kg CO2 in September 2022) emissions.
Enn Laansoo Jr
Member of the Management Board