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Inzile AB (publ) Interim Report 1 January – 31 Mars 2021

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First quarter 2021 in brief

  • Establishment of a sales company in Norway launches international expansion
  • Evaluation of production in Spain initiated
  • Private placement provided the company with MSEK 127

First quarter 2021 in numbers

  • Net sales amounted to MSEK 1,1 (0)
  • Operating profit (EBIT) amounted to MSEK -19,3 (-10.1)
  • The result for the period amounted to MSEK -19,4 (-10.1)
  • Earnings per share before and after dilution amounted to SEK -1,01 (-0.81)

Events during the period

Inzile has launched its international expansion by establishing a sales company in Norway for the sale of the electric truck Pro4. A salesperson, specifically focused on the Norwegian market, has been recruited and negotiations are underway regarding the employment of a manager for the sales company.

Inzile has initiated negotiations regarding the establishment of production of the electric truck Pro4 in Barcelona, Spain, with the intention of being able to deliver vehicles to southern Europe. The goal is for production to begin in 2022.

In January Inzile carried out a private placement of 2.6 million shares, which provided the company with approximately MSEK 127, before transaction costs. The issue was primarily aimed at Swedish and international institutional investors. The purpose of the new issue was to finance Inzile's investments in technological development of production facilities, vehicles, and customer platforms, and to strengthen efforts within sales and marketing.

Events after the period

Inzile has received an additional order for four electric trucks, of the model Pro4, from Tier Mobility in Sweden. To date, Inzile has delivered seven vehicles to Tier, the electric scooter company, and during this spring another seven vehicles will be delivered. As of the summer of 2021, a total of 14 Inzile vehicles will be in operation in Tier Mobility's Swedish operations. 

Inzile continues its international expansion by establishing a sales company in Germany for the sale of the electric light truck, Pro4. A sales office has been established in Berlin; the hub of Germany for tech companies with sustainable business models.

For further information, please contact:

Ragnar Åhgren, CEO, ragnar.ahgren@inzile.com, +46 73 356 89 89

Peter Wergens, CFO, 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 persons, for publication on April 29, 2021 at 08.00 CET.



 

About Inzile

Inzile is a Swedish tech company manufacturing intelligent electrically powered vehicles as well as creating 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 marketing office 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

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