Friday, March 14, 2008

Swiss Carsharing Financials

There are not many carsharing companies that publish their financial statements - but Mobility Carsharing Switzerland, a cooperative, does. So I thought you'd be interested in what it looks like in this machine translated summary from original German. If you read German you can see a more detailed breakdown of 2006 operating performance in this PDF.

A little background about Mobility: Mobility is a cooperative. It has 2 classes of customers: Users and Cooperative members. Coop members get a discount in usage fees in return for making a refundable deposit of CHF 1000 + a non refundable admission fee of CHF 250. They have various programs, many of which involve prepayment that give usage discounts of up to 20%.

2007 has been a busy year for Mobility which started an several innovative programs:
Business carsharing program which provides fleet vehicles for businesses that are exclusive use but reserved through the Mobility reservation system and have the company's logo on them.
• They formed a joint venture with one of the major car rental companies in Austria (described below) to jointly operate the carsharing service in Austria, which Denzel had been operating by itself (using Mobility technology).
Monthly car rental program which provides an exclusive use car for a month, while providing access to the entire Mobility nationwide fleet at no extra cost.
• Pioneered Click and Drive through a partnership with Cornecard, a major credit card company in Switzerland, to offer, cardholders access to Mobility vehicles on a pay as you go basis. The charge card is used to unlock the vehicle.

As you read the financials below keep in mind that currently one Swiss Franc = $0.996 US - so it's just about 1:1 conversion.

Mobility continues to grow

Mobility look back on a successful year. With an increase of 7,500 of new customers - the second largest customer growth in its 10-year history. In good cooperation with distribution partners, sales were up 11.2 percent to CHF 50.6 million. The Mobility Group includes the fiscal year 2007 with a consolidated operating profit EBIT of CHF 1'067'036 .- and a profit of CHF 646'689 .-. The company's sales in the core business grew by 11 percent. With 1,050 locations in Switzerland and the market in Austria could Mobility its leading position in the car market continues to expand.

Mobility customers use 1,950 vehicles at 1,050 locations throughout Switzerland around the clock in self service available. The number of customers grew 7,500, from 69,600 to 77,100 (previous year's growth was 5,900), or 10.8 percent (9.3 percent last year). The above-average growth allowed Mobility, the first time in four years its network to an additional 50 to 1,050 locations nationwide. The fleet was 2007 to 150 additional vehicles increased. The number of cooperative members in the same period rose by around 2,500 to 34'500 to (+ 7.8 percent over the previous year).

Growth strategy pursued

In 2007 Mobility made large investments in the market, the expansion of the fleet and locations, as well as in pioneering technologies (telematics and vehicle operating software) which led to the accelerated customer growth. The consistent growth strategy has led to a strategy consolidated operating profit of CHF 1'067'036 .- (CHF 2'106'536 .-). The annual profit amounts to CHF 646'689 .- (CHF 1'551'750 .-).

Business increased acceptance CarSharing

Business Mobility car recorded in fiscal 2007, a customer growth of 21 percent. About 2,100 companies sat at the end of 2007 for its corporate mobility on Mobility. They generated 18 percent of the total turnover of Mobility. The already existing offers in the car-sharing business in October with the product "Mobility Exclusive." It is the only vehicle for the company's car reserved and can be used with your own company logo.

Expand to Austria

A daughter company of Mobility, Mobility Support AG, is the newly developed Mobility licensing system which enabled it to expand abroad for the first time in fiscal 2007. Together with the Wolfgang Denzel AG operates the Mobility cooperative with a half ownership in the joint venture Denzel Mobility Car GmbH.

Sustainability as entrepreneurial attitude

In its business activities Mobility concentrates on sustainability. This attitude is reflected not only in the job, but in a responsible use of employees and the stakeholders in the business environment. The arithmetic average fuel consumption of the Mobility fleet, for example, adopted last year by 6.48l/100 km on 6.37l/100 km. Thus, the efficiency of the above-mobility vehicles annually 520'000 litres of fuel saved. Moreover meet Mobility cars 35g CO2/km less (- 18.7 percent) than the average of new cars registered in Switzerland in 2006. About 11 percent of Mobility customers and 100% of Mobility corporate trips are compensated by the MyClimate Foundation CO2 offset program. compensated. For internal aspects demonstrates the sustainability approach, especially in the fall in turnover rate at 21.4 percent, significantly decreased the absence of illness and injury to 4.1 days (previous year: 5 days) and the high proportion of women in the workforce, including at the leadership level.

Growth of Mobility Carsharing Switzerland