Miles Mobility Board - COO Alexander Eitner, CEO Oliver Mackprang and CFO Eyvindur Kristjansson.
Miles Mobility Board - COO Alexander Eitner, CEO Oliver Mackprang and CFO Eyvindur Kristjansson.
( Source: Miles Mobility GmbH)

MOBILITY AS A SERVICE Car sharing provider Miles achieves leap in profitability

Editor: Florian Richert

Shared mobility is one of the key concepts for future mobility, but at the same time, it is still a challenge. The Berlin start-up Miles Mobility GmbH reached break-even for the first time in October 2020.

Shared Mobility is a challenging business and currently still very rarely lucrative for companies. The Berlin-based start-up Miles Mobility, which offers its fleet in various German cities, announced its figures for the past financial year on Monday, March 1, 2021. According to the report, the turnover quadrupled from 2019 to 2020, from EUR 5.7 million to EUR 20 million. The company has exceeded break-even since October 2020.

The C-Level trio, Oliver Mackprang, Eyvindur Kristjansson, and Alexander Eitner, thank Miles Mobility employees. "Thank you to the entire MILES team, who give one hundred percent every day behind the scenes and always put new motivation, ideas, and a lot of energy into realizing our vision."

Growth targeted

"The mobility industry was not a Corona winner," said Miles CEO Oliver Mackprang. In 2021, the company aims to remain profitable but continue to add new locations and expand usage areas in existing territories.

As the name suggests, Miles charges per distance traveled, not by time as many competitors do. According to the free-floating system, the car-sharing system vehicles do not have fixed locations but are parked by the users at their destination, as long as this is within the area of use.

(ID:47225430)