Polestar Automotive Holding UK PLC · NASDAQ:PSNY
Polestar Automotive Holding UK — Q1 2023 Earnings Presentation
27 slides from Polestar Automotive Holding UK's earnings presentation, May 11, 2023
Slide 1: Investor update for the three months ended March 31, 2023
Investor update for the three months ended March 31, 2023 May 11, 2023 Polestar Automotive Holding UK PLC Exhibit 99.2
Slide 2: Disclaimer: Forward-Looking Statements
Polestar Disclaimer Forward-Looking Statements Certain statements in this presentation (“Presentation”) of Polestar Automotive Holding UK PLC (“Polestar”) constitute forward-looking statements, within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Refo
Slide 3: Polestar
Polestar
Slide 4: Polestar — Recent developments
Debuted Polestar 3 in North America The SUV for electric age which defines the essence of our brand, in terms of design, luxury, and ambition Polestar — Recent developments Reduced relative CO2 emissions per car sold by 8% in 2022 Published the third Annual Sustainability Report, which outlines our
Slide 5: Our past, our present and our future
Polestar — Our past, our present and our future History in performance 1996–2017 Founded in 1996 as a racing team Developed and sold performance software for Volvo Cars The official performance partner to Volvo Cars from 2009 Acquired by Volvo Cars in 2015 Launching the new Polestar brand 2017–2021
Slide 6: Rapidly expanding premium product portfolio
Polestar 1 Polestar 2 Polestar 3 Polestar 4 Polestar 5 Type Segment ASP1 Range Launch Factory Hybrid Grand Tourer Sports Premium ~$155k ~120km range 2017 Chengdu, China Fastback C/D premium ~$50-70k ~540km 2019 Taizhou, China Luxury Aero SUV SUV E premium ~$80-120k up to 610km2 2022 Chengdu, China C
Slide 7: Our asset-light model
Flexible and scalable set-up Agility of a start-up Innovation and high-performance technologies Avant-garde design Leading sustainability goals Full vehicle attributes Digital first DTC customer approach Stability of established players Over 100 years of combined experience Platform development Engi
Slide 8: Our core pillars
01 Design Avant-garde, pure Scandinavian design High tech minimalism Design perfection focus Unique design attributes 03 Sustainability Climate-neutral car by 2030 with ongoing sustainability upgrades Circular battery and material strategy, battery centers in place Blockchain-powered traceability on
Slide 9: Our well-defined growth strategy
01 Rapidly expanding product portfolio 02 Growth in existing and new markets 03 Expanding sales and service network Polestar — Our well-defined growth strategy 2019 Polestar 2 2022 Polestar 3 2023 Polestar 4 2024E Polestar 5 2026E Polestar 6 Product launches Global network – Q1 2022 vs Q1 2023 Globa
Slide 10: Unaudited financial highlights for the three months ended March 31, 2023
Unaudited financial highlights for the three months ended March 31, 2023
Slide 11: Key financial highlights for the three months ended Mar 31, 2023
Financial and operational highlights — Key financial highlights for the three months ended Mar 31, 2023 (unaudited) Revenue ($ mn) Gross profit ($ mn) Q1 2022 Q1 2023 546 452 Q1 2022 Q1 2023 (7) 21% Gross profit of $18mn As the result of model year 2023 vehicles price increases alongside FX transact
Slide 12: Key financial highlights: income statement items
Financial and operational highlights — Key financial highlights for the three months ended Mar 31, 2023 (unaudited) US$ million Q1 2023 Q1 2022 % Change Revenue 546 452 21 Cost of sales (528) (459) 15 Gross profit (loss) 18 (7) n/m Gross margin (%) 3.4 (1.6) n/m SG&A expense (189) (213) (11) R&D exp
Slide 13: Cash flow for the three months ended Mar 31, 2023
Financial and operational highlights — Cash flow for the three months ended Mar 31, 2023 (unaudited) Cash flow ($ mn) 2022 Operating Investing Other repayment and FX1 Q1 2023 Operating Mainly driven by operating loss, higher inventory and trade payables repayments Investing Mainly driven by Polestar
Slide 14: 2023 outlook
Financial and operational highlights — 2023 outlook Cash balance at 31 Mar 2023 Global volumes Gross profit margin 60-70k With support from major shareholders and $884mn cash balance, we continue to explore potential equity or debt offerings to fund operations and business growth. Expect global volu
Slide 15: Imagery
Imagery
Slide 16: Model Year
Polestar 2 — Model Year 24
Slide 17: BST edition
Polestar 2 — BST edition 230
Slide 18: The SUV for the electric age
Polestar 3 — The SUV for the electric age
Slide 19: The electric SUV coupé
Polestar 4 — The electric SUV coupé
Slide 20: The electric 4-door GT
Polestar 5 — The electric 4-door GT
Slide 21: The electric roadster
Polestar 6 — The electric roadster
Slide 22: Appendix
Appendix
Slide 23: Unaudited condensed consolidated statement of loss and comprehensive loss
Financial statements — Unaudited condensed consolidated statement of loss and comprehensive loss in thousands of U.S. dollars except per share data and unless otherwise stated For the three months ended March 31 2023 2022 Revenue 546,018 452,227 Cost of sales (527,596) (459,492) Gross profit/ (loss)
Slide 24: Unaudited condensed consolidated statement of financial position
Financial statements — Unaudited condensed consolidated statement of financial position in thousands of U.S. dollars March 31, 2023 December 31, 2022 Assets Non-current assets Intangible assets and goodwill 1,478,953 1,396,477 Property, plant and equipment 242,525 258,048 Vehicles under operating le
Slide 25: Unaudited condensed consolidated statement of cash flows
Financial statements — Unaudited condensed consolidated statement of cash flows in thousands of U.S. dollars For the three months ended March 31, 2023 2022 Cash flows from operating activities Net loss (8,977) (274,490) Adjustments to reconcile net loss to net cash flows Depreciation and amortizatio
Slide 26: Unaudited reconciliation of GAAP and Non-GAAP results
Financial statements — Unaudited reconciliation of GAAP and Non-GAAP results in millions of U.S. dollars For the three months ended March 31, 2023 2022 Adjusted EBITDA Net loss (8,977) (274,490) Listing expense — — Fair value change - Earn-out rights (206,195) — Fair value change - Class C Shares (7
Slide 27: For questions, please contact
For questions, please contact: Bojana Flint Head of Investor Relations ir@polestar.com Polestar Assar Gabrielssons Väg 9 SE-418 78 Göteborg Sweden polestar.com All ideas contained within this document are owned by Polestar. © Polestar 2023 Investor update for preliminary unaudited results for the th
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