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Inzile AB (publ) Year-end Report January 1 - December 31, 2020

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Fourth quarter 2020 in brief

  • Cooperation agreement with Eways was signed
  • Framework agreement with Doorier was concluded
  • Supplementary order was delivered to Bring
  • Orders were received from Tier Mobility for 10 electric trucks
  • Carnegie Investment Bank was engaged as financial advisor

Fourth quarter in numbers

  • Net sales amounted to SEK 2.1 (0) million
  • Operating profit (EBIT) amounted to SEK -24.3 (-35.6) million
  • Result for the period amounted to SEK -24.4 (-35.6) million
  • Earnings per share before and after dilution amounted to SEK -1.42 (-2.85)

The year 2020 in numbers

  • Net sales amounted to SEK 4.2 (0) million
  • Operating profit (EBIT) amounted to SEK -56.8 (-50.6) million
  • Result for the period amounted to SEK -57.1 (-50.6) million
  • Earnings per share before and after dilution amounted to SEK -3.96 (-5.35)
  • The board of directors has decided that there will be no dividend      

Events during 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.

Inzile delivered four electric trucks to Bring of the new model Pro4 Max. The first Inzile vehicle was delivered in June 2020 and has worked well in Bring's operations. The four new electric vehicles will also be used for fossil-free home deliveries in urban environments.

Inzile received a follow-up order of 10 electric trucks from the electric scooter company Tier Mobility.Two of the trucks were delivered in December 2020 and the remaining eight vehicles will be delivered during the first quarter of 2021.

Inzile engaged Carnegie Investment Bank as financial advisor to review the company's capital structure and evaluate various strategic initiatives.

Events after the period

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

Inzile has begun its international expansion by establishing a sales company in Norway for the sale of the electric truck Pro4. A salesman, 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 to start production in 2022.

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 February 19, 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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