Inzile AB (publ) Interim Report January 1 - June 30, 2022

First six months 2022 in brief

• Order regarding installation of assembly factory in the Dominican Republic received from Pinero 
• Order of 33 hotel & resort vehicles received from Pinero  
• Order of 21 light trucks received from Tier Mobility in Finland and Norway
• Record-breaking order of 900 hotel & resort vehicles received from Emos Caribbean
• Måns Sjöstedt appointed CEO and Yago Mendez resigned
• Enrique Banuelos, Gloria Banuelos and Juan Carlos Del Rio elected members of the Board
• Ragnar Åhgren, Måns Sjöstedt, Yago Mendez and Rafael Escanez resigned from the Board

Inzile Group

First six months 2022 in numbers

• Net sales amounted to MSEK 7.2 (0.0)
• Operating income (EBIT) amounted to MSEK -59.2 (0.0)
• Result for the period amounted to MSEK -65.5 (-11.8)
• Earnings per share, before and after dilution, amounted to SEK -1.22 (-91.50)

Events during the period

The governments of Spain and Catalonia, together with the local trade unions, endorsed the electromobility HUB proposal made by QEV Technologies, of which Inzile controls 19.6 %. The HUB will be located in the previous Nissan factory in Barcelona. Inzile part of the winning HUB proposal and will therefore have at its disposal all the facilities for design and scale production of its planned new vehicles.

Inzile was selected for Swedish HBV's framework agreement regarding procurement of electric work vehicles. The agreement, worth up to SEK 189 million, is valid for three years with an option for another year. Inzile is one of four accepted suppliers.

Former Board Member Måns Sjöstedt took over as CEO of Inzile.

Inzile signed an agreement with reseller NT Maskin that operates in central Sweden.

NT Maskin is an entrepreneurial company with extensive experience in sales in the green space and contracting industry.

Inzile continued its expansion in the Nordics by signing a dealer agreement with Danish Jaka Service Aps, a sales and service company with seven years of experience in sales and optimization of electric vehicles throughout Denmark.

Inzile received an order, at a value of SEK 5 million, from Pinero Group regarding installation of an assembly factory with a capacity of 2,000 vehicles per year. The factory will assembly the new generation of the Inzile hotel & resort vehicles for EMOS Caribbean, a joint venture company between Inzile and Pinero Group.

Enrique Bañuelos, Gloria Bañuelos and Juan Carlos Del Rio were elected as new members of the Board. Ragnar Åhgren, Måns Sjöstedt, Rafael Escanez and Yago Mendez resigned from the Board.

Pinero Group invested in Inzile to become a strategic shareholder and partner in the commercialization of electric vehicles in the Caribbean.

Inzile and Spanish OK Mobility Group created the joint venture company Electric Retail Solutions for the commercialization of electric vehicles for the car rental sector in Europe. Inzile will design, homologate, and produce compact electric vehicles for this sector, with the assistance and experience of OK Mobility Group and its marketing facilities.

Inzile signed a distributor agreement with Finnish Oy YBAS Ab, which has a long experience and a wide network. By entering the Finnish market Inzile is present on all larger markets in the Nordics.

Inzile contracted international financial advisor MCM Partners for a capital raise equivalent to SEK 250 million. The share issue may be divided into two or more transactions and will be directed to selected strategic international investors.

Inzile received an order of 33 hotel & resort vehicles for Bahia Principe’s 5-star luxury resort Cayo Levantado in the Dominican Republic. Bahia Principe is a high-end brand of Pinero Group. The order will be delivered through EMOS Caribbean and Inzile’s part of the order has a value of SEK 5,6 million.

Inzile won a procurement through a second competitive tendering on Swedish Adda's framework agreement for electric vehicles. The contract concerns 3 Inzile Pro4 light trucks at a value of SEK 0.9 million for Örebro Municipality.

Inzile received an order of 21 light trucks from Tier Mobility’s operations in Finland and Norway. The contract includes 16 Inzile Pro4 electric light trucks to Finland and 5 of the same to Norway.

Inzile received a record-breaking order of 900 hotel & resort vehicles from EMOS Caribbean. The order value for Inzile exceeds MSEK 180, including services. The 900 vehicles are divided into 400 passenger, 400 cargo and 100 trailer models.

Events after the period

The continued Annual General Meeting of Inzile resolved to elect Swedish registered auditing company Moore Allegretto AB as the Company’s auditor. Lars Erik Engberg will be auditor in charge.
 

Board member Enrique Banuelos was appointed Executive Chairman of the Bord of Directors and former Executive Chairman Håkan Örtenholm left the board.

For further information, please contact:

Måns Sjöstedt, CEO Inzile, mans.sjostedt@inzile.com, +46 70 946 69 05

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 persons, for publication on August 31, 2022 at 08.00 CET.

This Interim Report may be downloaded from Inziles website through the following link: https://inzile.com/investerare/finansiella-rapporter/

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 head office in Stockholm, sales offices in Stockholm and in Palma, Spain, production in Västervik and R&D in Tranås, Sweden.

The Company's share is traded on Nasdaq First North Growth Market Stockholm.

Redeye AB is the Company’s Certified Adviser

For further information, please visit: www.inzile.com