Pongo AS
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Pongo AS - overview
Established
1940
Location
Hagan, Akershus, Norway
Primary Industry
Automobiles, Other Vehicles & Parts
About
Based in Akershus, Norway, and founded in 1940, Pongo AS, a holding company of Gill Gruppen AS is an automobile company that distributes electric vehicles (EV) of multiple brands. In May 2023, Sojitz Corporation acquired a 49% minority stake in Pongo AS. As of May 2023, the company is being led and represented by its CEO, Leif Madsberg. The firm operates as a wholesaler and retailer of automobiles and electric vehicles from multiple brands.
The firm also offers trading, and repair services of light motor vehicles and automobiles, excluding motorcycles. Pongo AS intends to use the May 2023 funds to expand its market presence and to strengthen its business foundation.
Current Investors
Sojitz Corporation
Primary Industry
Automobiles, Other Vehicles & Parts
Sub Industries
Automobile Repair, Automobile Dealerships, Automobiles, Other Vehicles & Parts
Verticals
Electric & Hybrid Vehicles
Total Amount Raised
Subscriber access only
Pongo AS - timeline of key events
Pongo AS - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | - | - | 53,955,898 | 61,530,489 | 50,515,383 | 1,005,124,576 | 490,609,101 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | - | 14.0% | (17.9%) | 1889.7% | (51.2%) | - | - | - |
| EBITDA (USD) | (2,084,181) | (2,434,725) | (1,869,948) | (2,214,029) | 380,279 | (14,130,959) | (16,342,288) | 103,722,687 | 1,661,375 | - | - | - |
| Operating Income (USD) | (2,349,830) | (2,705,144) | (2,153,677) | (2,455,270) | (1,407,139) | (18,054,848) | (20,702,337) | 99,260,224 | (4,853,099) | - | - | - |
| Operating Margin | - | - | - | - | (2.6%) | (29.3%) | (41.0%) | 9.9% | (1.0%) | - | - | - |
| % EBITDA Margin | - | - | - | - | 0.7% | (23.0%) | (32.4%) | 10.3% | 0.3% | - | - | - |
| NET Income (USD) | (812,569) | (1,722,699) | (1,868,455) | 7,511,941 | (1,527,257) | (18,830,668) | (22,139,269) | 74,594,768 | 6,967,913 | - | - | - |
| % Net Margin | - | - | - | - | (2.8%) | (30.6%) | (43.8%) | 7.4% | 1.4% | - | - | - |
Pongo AS - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LP Direct | Completed | Pongo AS | - |
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Pongo AS - employee data
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