Movinga's loss declines

The start-up was able to further reduce its net loss for the year through staff reductions and renegotiated service contracts.

Positive news at Movinga: The start-up was again able to reduce its net loss for the 2020 financial year. Accordingly, the company made a loss of 8.2 million. In the previous year, it had still been 14.3 million euros. Meanwhile, the gross profit for 2020 was seven million euros, which is around 2.2 million euros less than in 2019.

"The lower gross profit is attributable to declines in sales, particularly in the French market," the company wrote in its management report. "The improved result is attributable to the renegotiation of key service contracts and a reduction in staffing levels," the company wrote in its management report. According to information from German startups the number of employees reduced over the years from a maximum of 353 in 2016 to 113 in 2020.

For the completed fiscal year 2021 and the currently running fiscal year 2022, the startup expects higher sales and a further reduction of the annual loss. Nevertheless, the operating result is expected to remain negative. A financing of three million euros from September of last year secures the liquidity of the company, which was founded in 2015.

Movinga offers a platform where customers can book a moving service. For each booking, Movinga plants trees to offset CO2 emissions. In 2020, the start-up expanded to Austria and Switzerland. The service is also available in Germany, France and Sweden.