Urb-it announces trading update for Q4 2022

Urb-it has today announced that it is rolling out last mile delivery services for a share of Zara’s online orders in in London, Manchester, Birmingham, Liverpool, Bristol, Paris and Barcelona.

Due to the increased demand from the partnership with Inditex (Zara’s parent company) and the new partnership with Evri (previously Hermes), announced on December 13, 2022, as well as beneficial pricing negotiations with existing customers, Urb-it expects its Net sales to exceed its previously communicated financial target for Q4 2022.

As a result, Net sales for Q4 2022 are preliminarily estimated to total SEK 14 million which exceeds the previously announced target of SEK 11.5 million.

Urb-it announced its expansion into the Spanish market on January 12, 2022. To meet the increased demand mainly in Spain as a result of its partnership with Inditex, Urb-it will bear additional costs during Q4 2022.

Urb-it finds that this progress increases the likelihood for Urb-it to reach its previously communicated financial targets for the period 2023 – 2027, which remain unchanged.

Urb-it will publish the interim report for the fourth quarter on February 28, 2022.

For further information, please contact:

Kevin Kviblad, CEO, kevin@urbit.com

Urb-it Press Office, press@urbit.com

This information is information that Urb-it AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14.40 CET on December 16, 2022.

The company's Certified Adviser is Mangold Fondkommission AB, which can be reached by phone number +46 8 503 015 50 and at the e-mail address CA@mangold.se.

About Urb-it AB (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 couriers on foot, bike and our e-cargo fleet. This reduces noise pollution, air pollution and congestion - creating healthier cities.  We are a B Corp certified business, meaning we are committed to maintaining the highest standard of environmental performance, social governance, public transparency and legal accountability.

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.