Press Release

Urb-it announces 2022 Q2 Results

August 18, 2022
2 MINS

Urb-it AB (publ) Quarterly Report, April– June 2022

2022 SUMMARY

Financial development during the period April - June 2022

·      Net Sales for Urb-it AB (publ), amounted to KSEK 12448 (KSEK 5 930) during the period.

·      Operating loss was KSEK -35 588 (KSEK -17 837).

·      Loss before tax totalled KSEK -35 062 (KSEK -18 112).

·      Loss per share attributable to owners of the Parent Company amounted to SEK -0,15 (SEK -0,09).

Compared to previous year, the Net Sales grew by 110% and the volumes by 272%. The growth is attributable to the large clients Alibaba, Amazon and Yodel.

During the 2nd quarter 2022,Urb-it has focused on operational excellence. The efforts have led to substantial improvement in Urb-it’s major market France which stands for ca.70% of the Groups Net sales. France managed to reduce the direct delivery costs per delivery by 57% in June 2022 compared to January 2022 which led to a positive Gross margin after direct delivery costs in the 2nd quarter. On a Group level, the operating losses compared to 1st quarter 2022 were reduced by KSEK 8 158.

Urb-it continued to invest in infrastructure to enable future growth in all markets.  At the end of the 2nd quarter, tangible assets have increased to KSEK 19 842, primarily e-cargo bikes.

 

Significant events during the second quarter of 2022

·       Urb-it continued UK expansion by launching in Liverpool.

·       Urb-it delivery services integrated with leading commerce platform Linnworks

·       Urb-it grows partnership with Yodel in Manchester.

·       As sole representative from the industry, Urb-it participated in OECD meeting held in Leipzig.

·       Urb-it expanded in Paris through new hubs, now covering all of central Paris.

·       Urb-it partners with Cainiao Network to offer sustainable delivery option to parcel lockers in Paris.

 

Significant events after the end of the second quarter

·       Urb-its sustainable last-mile delivery services now live in Madrid and Barcelona.

·       Urb-its sustainable delivery services available through market leading delivery management platform.

·       Urb-it’s sustainable last mile delivery services available to merchants on Shopify.

 

Kevin Kviblad, CEO of Urb-it said:

“Our conscious decision to prioritise profitability over volume growth also enabled us to solidify our operational base, which resulted in improved operational efficiency across our business. These are significant milestones on our path to profitability.

I am confident that our improved operational efficiency will position us for further growth in H2 as we onboard new clients and enter the peak season in Q4.  With a clear growth structure and well invested platform for growth, I remain truly excited about the opportunities and need for sustainable last mile deliveries across Europe.”

 

For further information please contact:

Kevin Kviblad, CEO kevin@urbit.com

Urb-it Press Office press@urbit.com

 

About Urb-itAB (publ)‍ | B Corp certified

Urb-it is a rapidly growing sustainable logistics platform with a vision to transform urban logistics, one delivery at a time. We deliver urban logistics services that create a positive impact on society and the environment. We partner with brands to deliver the last mile sustainably and efficiently in urban areas across Europe. 

Our customer-centric last mile delivery services are conducted by our employed couriers  on our 100% e-cargo bike fleet. This reduces emissions, congestion and noise pollution - creating healthier cities. 

We are a B Corp certified business, meaning we meet and have committed to the highest verified standards of social and environmental performance.  We are currently operating in urban areas in Europe's largest e-commerce markets – France, the UK and Spain.  Our ambition is to expand into other major e-commerce markets across Europe in the coming years.

In 2022, Urb-it won Best Supply Chain Solution Award at The Retail Supply Chain & Logistics Expo.  

Founded in 2014, Urb-it is a Swedish entrepreneurial company headquartered in Stockholm and listed on Nasdaq First North Growth Market. Find out more at urb-it.com.

The Company's Certified Adviser is Mangold Fondkommission AB who are reachable on +468- 503 015 50 or CA@mangold.se.

This information is such information that Urb-it AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation (MAR). The information was submitted, via the above-mentioned contact person, for publication on 18 August 2022.

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