Urb-it communicates financial targets for the period Q4 2022 - 2027

The Board of Directors of Urb-it AB (publ) ("Urb-it" or the "Company") has on October 19, 2022, resolved on a Rights Issue. In connection with marketing the Rights Issue, the Company has prepared financial targets for the period Q4 2022 - 2027 which is made public through this press release.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION.

Comments on the financial targets

"As is customary for a company in Urb-it's position when raising capital, we have been asked by potential anchor investors to prepare financial targets, in our case up until and including 2027, which the market is given access to in a non-discriminatory way through this press-release. Even though the financial targets reflect Urb-it's current ambitions and are based on assumptions that we find reasonable, we want to emphasize that our ambition absolutely is not a guarantee for future performance and the actual performance may turn out significantly different", says Kevin Kviblad, CEO of Urb-it.

Material accounting principles

The financial targets have been compiled and prepared on a basis which is comparable to Urb-it's historical financial information and are consistent with the accounting policies applied by the Company.

Assumptions upon which the financial targets are based

The financial targets set forth below are not a guarantee of future performance. Even though the financial targets reflect Urb-it's current ambition and are based on assumptions that we find reasonable, they are subject to material uncertainties and are based on a number of high-risk financial assumptions. The assumptions include hypothetical assumptions about future events and management actions which cannot be confirmed and verified in the same way as past results, and these may or may not occur. Even if the events and actions anticipated do occur, actual results are still likely to be different from the financial targets and the variation may be material.

Assumptions which Urb-it can influence:

  • That Urb-it - through growth driven by increasing sales to the existing client base, onboarding new clients and expanding Urb-it's geographical reach to 6 countries and 44 cities - can achieve an average annual growth of Net Sale of 100 percent over the period Q4 2022 - 2027;
  • That Unit Net Sales (average fee per delivery request) can be increased from 2.3 euro to 3.26 euro through obtaining new customers in the more profitable e-commerce market, and, by moving into the e-commerce market, Urb-it being able to diversify its offering and increase its share of Next Day and Time Slot deliveries, at higher rates;
  • That Urb-it's sales, marketing and commercialization infrastructure and workforce can be reasonably established as Urb-it's business grow;
  • There will be no material change in the operational strategy or current management of Urb-it during the period between Q4 2022 and 2027, other than those already announced.

Assumptions which are outside Urb-it's influence:

  • That investors and lenders are willing to provide Urb-it with the necessary financing to execute Urb-it's business plan;
  • That Urb-it's competitors does not offer the market competing products and services on terms which Urb-it cannot compete with;
  • There will be no material change in general market, economic, competitive environments or levels of demand in countries in which Urb-it operates that would materially affect Urb-it's business;
  • There will be no material change to Urb-it's customers' agreements, rebates, or discount programs from those currently prevailing and that Urb-it in the future can enter into agreements on materially the same or more favorable terms;
  • There will be no changes in exchange rates, interest rates, bases of taxes, tax laws or interpretations, or legislative or regulatory requirements from those currently prevailing that would have a material impact on Urb-it's operations or its accounting policies;
  • That no regulatory or political factors change in a material way and thereby impede Urb-it's operations.

Financial targets for the period Q4 2022 - 2027

P&L, KSEK

 

Q4 2022

2023

2024

2025

2026

2027

Deliveries

468 750

3 975 000

9 075 000

17 175 000

26 775 000

40 200 000

Net Sales

11 554

111 819

290 726

596 451

939 022

1 387 964

EBITDA

-29 913

-72 578

31 609

183 306

377 137

635 332

Investments

0

-14 840

-25 567

-42 909

-48 527

-28 175

EBITDA less invest

-29 913

-87 418

6042

140 386

328 611

607 157

For further information, please contact:

Kevin Kviblad, VD, [email protected]

About this information

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 17:40 CET on November 24, 2022.

 

About Urb-it AB (publ)

Urb-it AB operates in the logistics sector and provides parcel delivery services. Customers can be found in a number of sectors, with a main focus on the e-commerce market. The business is operated through several subsidiaries in France and Great Britain. Since October 2020, the company has been a certified B-Corp.

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 [email protected].

 

Important information

This press release and the information herein is not for publication, release, dissemination or distribution, in whole or in part, directly or indirectly, in or into the United Kingdom, the United States, Australia, Canada, Hong Kong, Japan, Singapore, or South Africa or any other state, territory or jurisdiction in which publication, release, dissemination or distribution would be unlawful or where such action would require additional prospectuses, filings or other measures in addition to those required under Swedish law.

The press release is for informational purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy or acquire, or subscribe for, any of the securities mentioned herein (collectively, the "Securities") or any other financial instruments in Urb-it AB (publ). Any offer in respect of any of the Securities will only be made through the prospectus that Urb-it AB (publ) expects to publish in due course. Offers will not be made to, and application forms will not be approved from, subscribers (including shareholders), or persons acting on behalf of subscribers, in any jurisdiction where applications for such subscription would contravene applicable laws or regulations, or would require additional prospectuses, filings, or other measures in addition to those required under Swedish law. Measures in violation of the restrictions may constitute a breach of relevant securities laws.

The Securities mentioned in this press release have not been registered and will not be registered under any applicable securities law in the United Kingdom, the United States, Australia, Canada, Hong Kong, Japan, Singapore, or South Africa and may, with certain exceptions, not be offered or sold within, or on behalf of a person or for the account or benefit of a person who is registered in, these countries. The company has not made an offer to the public to subscribe for or acquire the Securities mentioned in this press release other than in Sweden.

None of the Securities have been or will be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction in the United States (including its territories, possessions and the District of Columbia), and unless so registered, may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with other applicable securities laws. There will not be any public offering of any of the Securities in the United States.

In the EEA Member States, with the exception of Sweden, (each such EEA Member State, a "Relevant State"), this press release and the information contained herein are intended only for and directed to qualified investors as defined in the Prospectus Regulation. The Securities mentioned in this press release are not intended to be offered to the public in any Relevant State and are only available to qualified investors except in accordance with exceptions in the Prospectus Regulation. Persons in any Relevant State who are not qualified investors should not take any actions based on this press release, nor rely on it.

In the United Kingdom, this press release is directed only at, and communicated only to, persons who are qualified investors within the meaning of article 2(e) of the Prospectus Regulation (2017/1129) who are (i) persons who fall within the definition of "investment professional" in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons who fall within article 49(2)(a) to (d) of the Order, or (iii) persons who are existing members or creditors of Urb-it AB (publ) or other persons falling within Article 43 of the Order, or (iv) persons to whom it may otherwise be lawfully communicated (all such persons referred to in (i), (ii), (iii) and (iv) above together being referred to as "Relevant Persons"). This press release must not be acted on or relied on by persons in the UK who are not Relevant Persons.

This press release does not constitute an investment recommendation. The price and value of securities and any income from them can go down as well as up and you could lose your entire investment. Past performance is not a guide to future performance. Information in this announcement cannot be relied upon as a guide to future performance.

This press release contains forward-looking statements that reflect Urb-it's current view of future events as well as financial and operational development. These statements may include, without limitation, any statements preceded by, followed by or including words such as "intend", "assess", "expect", "may", "plan", "estimate", and other expressions involving indications or predictions regarding future development or trends and other words and terms of similar meaning or the negative thereof. These forward-looking statements have been prepared for illustrative purposes only, are not based on historical facts, are not guarantees of future performance, reflect Urb-it's beliefs and expectations, and are subject to known and unknown risks, uncertainties and assumptions, and other factors that could cause actual events and performance to differ materially from any expected future events or performance expressed or implied by such forward-looking statements. As a result of these risks, uncertainties, assumptions, and other factors, you should not place undue reliance on these forward-looking statements as a prediction of actual future events or otherwise. The information contained in this press release is subject to change without notice and, except as required by applicable law, Urb-it does not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained in it, whether as a result of new information, future events, or otherwise. Nothing in this press release constitutes or should be construed as constituting a financial forecast.

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Styrelsen för Urb-it AB (publ) har beslutat att kalla till extra bolagsstämma måndagen den 21 november 2022. Närmare detaljer beträffande förslagen till extra bolagsstämma framgår av kallelsen som redovisas i sin helhet nedan.

Kallelsen kommer att publiceras i Post- och Inrikes Tidningar och på bolagets webbplats inom de närmaste dagarna.

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For more information, please contact Kevin Kviblad, CEO, [email protected]




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