Press Release

Urb-it announces Q4 Results

Urb-it AB (publ) Quarterly Report, October – December 2021

February 22, 2022
5 mins

Urb-it AB (publ) Quarterly Report, October – December 2021

2021 SUMMARY

Financial development during the period January - December 2021

- Net Sales for Urb-it AB (publ), mentioned below as “the Company” or “Urb-it”, amounted to KSEK 34 270 (KSEK 12 558) during the period.

- Operating loss was KSEK -99 628 (KSEK -56 949).

- Loss before tax totalled KSEK -100 940 (KSEK -64 942).

- Loss per share attributable to owners of the Parent Company amounted to SEK -0,49  (SEK -0,44).

During 2021 Urb-it expanded from three to nine cities and entered partnerships with strategic clients including AliExpress, Amazon & Yodel, which generated the growth in Net Sales of 173% compared to previous year. This growth has also demanded a rapid expansion of hubs, and investing in building our teams and capabilities, infrastructure and fleet which contributed to the losses during 2021.

Cash flow has been affected by investments in our e-cargo bike fleet to ensure delivery capacity. By end of December KSEK 12 301 has been spent in strengthening delivery capacity.

Financial development during the period October - December 2021

- Net Sales for Urb-it (publ) amounted to KSEK 16 000 (KSEK 4 282) during the period.

- Operating loss was KSEK -43 015 (KSEK -13 501).

- Loss before tax totalled KSEK -43 395 (KSEK -18 218).

- Loss per share attributable to owners of the Parent Company amounted to SEK -0,20 (SEK -0,12).

During Q4 2021 Urb-it managed the largest ramp up in deliveries so far and more than doubled the deliveries performed from Q3 to Q4 and more than tripled the Net Sales compared to Q4 2020. The growth comes from increasing the volumes from AliExpress, Amazon and Yodel. During the ramp up, Urb-it has been affected by covid outbreak and new restrictions.  Safeguarding the new partnerships, Urb-it has put a lot of effort in the delivery capabilities including external partners and necessary training which has resulted in higher costs.

Cash flow has continued to be affected by investments in cargo bikes to ensure the ramp up of delivery capacity.  During the 4th quarter KSEK 2 715 has been spent in strengthening capacity.

 

Significant events during the fourth quarter of 2021

- Urb-it launched its sustainable delivery services in Scotland, expanding into Glasgow, Scotland’s largest city.

- Urb-it carried out a directed share issue of approximately SEK 80 million. The board of directors of Urb-it AB 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 raised approximately SEK 80 million before transaction related costs through the Share Issue.

- Urb-it bolsters post-sales experience offering for brands and retailers through strategic partnership agreement with parcelLab.

- The board of directors of Urb-it AB has resolved on a directed issue to Ingka Investments, the investment arm of Ingka Group, the main IKEA retailer of 21,590,909 shares, which was approved by an extraordinary general meeting (the ”Share Issue”).  The subscription price in the Share Issue amounts to SEK 4.40 per share. The Company raised SEK 95 million before transaction related costs through the Share Issue.

- Urb-it extended its partnership with Yodel to Glasgow and Bristol for the first time and expanded its London partnership.

- Urb-it forms strategic partnership agreement with StoreShippers, the world’s largest sustainable ship from-store network.

Significant events after the end of the fourth quarter

- Urb-it announced the launch of its sustainable delivery services in Spain. This is the next step in Urb-it’s ambitious growth strategy to expand across Europe with Spain as the third market, alongside France and the UK.

Kevin Kviblad, CEO of Urb-it said:

”The fourth quarter saw strong growth in revenue of 274%. In our most significant period of growth to date, we maximised our opportunities to scale rapidly during a short period of time and handled a tenfold volume increase compared to the corresponding quarter in 2020.

During the quarter we scaled our delivery volumes by fully supporting our partners and through investments in infrastructure we further strengthened our growth platform going into 2022.”

For further information please contact:

Kevin Kviblad, CEO kevin@urbit.com

Urb-it Press Office press@urbit.com

About Urb-it AB (publ)

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 & the environment. We partner with 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.  We are currently operating in urban locations 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.

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 22 Feb 2022.

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