Background on guidance upgrade
During the week, Urb-it announced a few last-mile delivery partnerships in key geographic areas, namely with Evri and Zara. These partnerships would be beneficial to Urb-it, not only in the long term but also in Q4'22, under the circumstance that they are associated with a relatively short ramp-up period as well as a sufficiently lucrative price per parcel delivery. Following these announcements, the company upgraded guidance today for Q4'22 from SEK 11.5m to 14m, which is in line with our previous estimate of 14.4m. On the cost side, however, the company has indicated that costs will increase due to the Zara partnership.
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