📈 Swvl's 2022 Financial Report Revealed 🚌

🔍 Swvl, the mobility company, posted a revenue of $51.5 million in 2022, marking a 100% increase from the previous year. This significant growth was driven by its bus-hailing services, which earned $37.9 million from business customers. 📊

💰 Swvl's first group gross profit, $2.75 million, reflects its focus on profitability. However, it still posted operating losses of $82.4 million in 2022. These losses were attributed to various one-time expenses, including acquisition reversals and fees from its SPAC listing. 📉

🔄 The company underwent a series of major changes in 2022, reversing acquisitions and shutting down operations in several countries. These changes led to a reformulation of its financial statements and a reduction in liability exposure related to these acquisitions. 🌍

📚 Overall, Swvl reported positive financial progress, with its financial health significantly improved by converting debt into equity and raising $20 million in equity financing. It's still on the journey to becoming a profitable enterprise. 📈💼

👀 Keep an eye on Swvl as it continues to stabilize its operations and work toward profitability in the future. 🚀📈 

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