Inzile AB (publ) Interim Report 1 Januari - 30 September 2020
Third quarter 2020 in brief
• Framework agreement was signed with Ramudden for initial delivery of six vehicles
• Agreement was reached on the delivery of two additional vehicles to Picsmart
• The Swedish Energy Agency selected Inzile for participation in feasibility study
regarding development of a combined battery and fuel cell system
• Inzile raised SEK 32.7 million through redemption of warrants
Third quarter in numbers
• Net sales amounted to SEK 37.9 (0) thousand
• Operating profit (EBIT) amounted to SEK -11.3 (-10.2) million
• Result of for the period amounted to SEK -11.5 (-10.2) million
• Earnings per share before and after dilution amounted to SEK -0.77 (-0.82)
First nine months in numbers
• Net sales amounted to SEK 2.1 (0) million
• Operating profit (EBIT) amounted to SEK -32.5 (-15.0) million
• Result of for the period amounted to SEK -32.7 (-15.0) million
• Earnings per share before and after dilution amounted to SEK -2.42 (-1.77)
Events during the period
During the period 1-30 August 2020, holders of warrants of series TO 1 of Inzile were able to subscribe for shares through warrants. A total of 2,670,485 shares were subscribed for, which means a subscription rate of 99.2 percent. Inzile thus raised approximately SEK 32.7 million before issue costs.
Inzile was selected by the Swedish Energy Agency to participate in a feasibility study for the development of a hybrid solution with a combined battery and fuel cell system. The project aims to develop the next generation of electrical systems for electric vehicles specially adapted to the Nordic climate.
A framework agreement was signed with Ramudden, which is a comprehensive supplier of workplace safety in busy environments. In the first phase, six vehicles will be delivered. The trucks will be used to deliver materials where space and accessibility are limited.
Inzile announced that due to effects of the Corona pandemic some of Inzile’s subcontractors were temporarily unable to supply the company with necessary components. This means that about two thirds of the vehicles that were to be completed during the fall will not be ready for delivery until the first quarter of 2021.
Inzile communicated that the company will already during the fourth quarter of this year be able to reach a production rate of 1,000 vehicles per year. This presumes that required materials and components are in stock. According to the company's original plans, this production rate would not be reached until 2022.
Inzile announced the delivery of two more vehicles to Picsmart within the framework agreement signed in December 2019. The first of the two vehicles was delivered in September. During 2020, Picsmart has evaluated the first electric truck from Inzile in its operations, which led to this supplementary order.
Events after the period
Inzile has signed a cooperation agreement with Eways regarding marketing and sales of charging infrastructure. The purpose of the collaboration is to offer customers who buy Inzile’s electric truck the opportunity to also procure the necessary charging infrastructure.
Inzile has signed a framework agreement with Doorier, a fast-growing tech company that offers logistics solutions within last mile deliveries. Inzile will deliver a total of four electric vehicles to Doorier.
For further information, please contact:
Peter Wergens, CFO Inzile, peter.wergens@inzile.com, +46 73 325 75 04
This information is such that Inzile AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was provided by the above contact person, for publication on November 17, 2020 at 08.00 CET.
About Inzile
Inzile is a Swedish tech company creating intelligent electrically powered vehicles as well as modern transport and service solutions for a sustainable community. The company’s vision is to liberate the world from emission of fossil fuels and to accelerate the climate efforts by contributing to sustainable cities that improve quality of life.
Inzile was founded in 2012 based on a strong will to secure a future climate friendly utility vehicle sector. The team consists of some of Scandinavia’s foremost authorities related to electrical vehicles, digitalization, manufacturing and purchasing. Inzile develops, produces, and sells innovative vehicle solutions on the global market based on the demanding Nordic climate, security requirements and environmental standards. The company is based in Sweden with headquarters and production facility located in Västervik, R&D in Tranås and Munkedal as well as a marketing office located in Stockholm.
FNCA Sweden AB is the Company’s Certified Adviser, +46 8-528 00 399, info@fnca.se.
For further information, please visit: www.inzile.com