Financial development during the period July - September 2021 (equiv. quarter pr. year)
• Net Sales for Urb-it AB (publ), mentioned below as “the Company” or “Urb-it”, amounted to KSEK 7 466 (KSEK 2 103) during the period.
• Operating loss was KSEK -23 824 (KSEK -13 318).
• Loss before tax totalled KSEK -24 116 (KSEK -13 559).
• Loss per share attributable to owners of the Parent Company amounted to SEK -0,12 (SEK -0,09).
During Q3 2021 growth of Net Sales was 255%. The increased loss compared to previous year was mainly due to; increased cost for infrastructure (new establishments of hubs in primarily France), as well as high start up costs connected to larger contracts in both France and UK.
Cash flow has been affected by investments in e-cargo bikes to ensure delivery capacity. By end of September KSEK 9 586 has been spent in the year strengthening capacity, of which KSEK 5 452 was spent during the third quarter.
Significant events during the third quarter of 2021
• Lyreco chooses Urb-it for green deliveries in France.
• Urb-it integrates with Zapiet to offer store pickup, delivery and shipping to Shopify merchants.
• Co-op expands rapid ethical delivery service in London with Urb-it.
• Urb-it is announced as Yodel’s UK National Partner
• Urb-it strengthens its leadership team, appointment of Chief Financial Officer & Chief Marketing Officer.
Significant events after the end of the third quarter
• Urb-it launches its sustainable delivery services in Scotland, expanding into Glasgow, Scotland’s largest city.
• Urb-it carries out a directed share issue of approximately SEK 80 million. The board of directors of Urb-it AB (”Urb-it or the ”Company”) has, pursuant to the authorisation granted by the annual general meeting held on 16 April 2021, resolved on a directed issue of 18,650,000 shares at a price of SEK 4.30 per share (the ”Share Issue”). The Company raises approximately SEK 80 million before transaction related costs to the Share Issue.
• The board of directors of Urb-it AB has resolved on a directed issue to Ingka Investments, the investment arm of Ingka Group, the largest owner and operator of IKEA Retail of 21,590,909 shares, subject to approval from an extraordinary general meeting (the ”Share Issue”). The subscription price in the Share Issue amounted to SEK 4.40 per share. The Company raises SEK 95 million before transaction related costs to the Share Issue.
For more information, please contact
Kevin Kviblad, CEO
About the Company
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 the logistics sector and brands to deliver the last mile sustainably and efficiently in urban locations across Europe
Our customer-centric last mile delivery services are conducted by our couriers on foot, bike and our e-cargo fleet. This reduces noise pollution, air pollution and congestion - creating healthier communities. We are a B Corp certified business, meaning we meet and have committed to the highest verified standards of social and environmental performance.
In 2021 we operate in nine cities and urban locations in two of Europe’s largest e-commerce markets, France & the UK. Founded in 2014, Urb-it is a Swedish entrepreneurial company headquartered in Stockholm and listed on Nasdaq First North Growth Market
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 29 Nov 2021.