Polestar Automotive Holding UK PLC · NASDAQ:PSNY
Polestar Automotive Holding UK — H1 2023 Earnings Presentation
27 slides from Polestar Automotive Holding UK's earnings presentation, Aug 31, 2023
Slide 1: Investor update for the six months ended June 30, 2023
August 31, 2023 Investor update for the six months ended June 30, 2023 Polestar Automotive Holding UK PLC
Slide 2: Disclaimer
Polestar 2 Disclaimer Forward-Looking Statements proceedings that may be instituted against Polestar or others [adverse results from litigation, Non-GAAP Financial Information Certain statements in this presentation (“Presentation”) of Polestar Automotive Holding UK governmental investigations or au
Slide 3: Polestar
Polestar
Slide 4: Recent developments
Polestar 4 — Recent developments Delivered 27,8411 vehicles to end June; expect to deliver 60-70k vehicles in 2023 15,765 vehicles delivered in the second quarter, up 36%year on year Achieved $1.2bn2 in revenues for the first six months of 2023 Mainly driven by higher Polestar 2 vehicle sales Polest
Slide 5: Our past, our present and our future
Polestar 5 — Our past, our present and our future History in performance Launching the new Polestar brand Growing rapidly 1996–2017 2017–2021 2021 onwards – Founded in 1996 as a racing team – Launched Polestar 1 in 2017 and Polestar 2 in 2019 – Listed on Nasdaq New York in June 2022 – Developed and
Slide 6: Rapidly expanding premium product portfolio
Polestar 6 — Rapidly expanding premium product portfolio Polestar 1 Polestar 2 Polestar 3 Polestar 4 Polestar 5 Polestar 6 Type Hybrid Grand Tourer Fastback Luxury Aero SUV Premium Sport SUV Luxury Sport GT 4-Door Luxury 2+2 roadster Segment Sports Premium C/D premium SUV E premium SUV D premium F c
Slide 7: Our asset-light model
Polestar 7 — Our asset-light model Flexible and scalable set-up – Agility of a start-up – Innovation and high-performancetechnologies – Avant-garde design – Leading sustainability goals – Full vehicle attributes – Digital first DTC customer approach Stability of established players – Over 100 years
Slide 8: Our core pillars
Polestar 8 — Our core pillars 01 02 03 Design Innovation Sustainability – Avant-garde, pure Scandinavian design – Bonded aluminiumplatform – Climate-neutral car by 2030 with ongoing sustainability upgrades – High tech minimalism – High-performanceelectric motors – Circular battery and material strat
Slide 9: Our well-defined growth strategy
Polestar 9 — Our well-defined growth strategy Product launches Global presence Global network – Q2 2022 vs Q2 2023 2019 Polestar 2 Locations1 2022 Polestar 3 125 150 2023 Polestar 4 2024E Polestar 5 Service points2 2026E Polestar 6 934 1,129 27 01 02 03 Rapidly expanding product portfolio Growth in
Slide 10: Unaudited financial highlights for the six months ended June 30, 2023
Unaudited financial highlights for the six months ended June 30, 2023
Slide 11: Key financial highlights for the six months ended Jun 30, 2023
Financial and operational highlights 11 — Key financial highlights for the six months ended Jun 30, 2023 (unaudited) Global volumes Revenue Cash and cash equivalents (vehicles, k) ($ mn) ($ mn) 27.9 1,231 1,057 1,041 974 21.2 . H1 2022 H1 2023 H1 2022 H1 2023 FY2022 H1 2023 Delivered 27,841 vehicles
Slide 12: Key financial highlights for the three months ended Jun 30, 2023
Financial and operational highlights 12 — Key financial highlights for the three months ended Jun 30, 2023 (unaudited) Revenue up 16% Higher Polestar 2 deliveries and price increases last year, in part offset by sales channel, product mix, and higher discounts US$million Q2 2023 Q2 2022 %Change Gros
Slide 13: Key financial highlights for the six months ended Jun 30, 2023
Financial and operational highlights 13 — Key financial highlights for the six months ended Jun 30, 2023 (unaudited) Variances for H1 2023 versus H1 2022 largely followed the trends outlined for Q2 2023 versus Q2 2022, with the US$million H1 2023 H1 2022 %Change following notable exceptions: Revenue
Slide 14: Cash flow for the six months ended Jun 30, 2023
Financial and operational highlights 14 — Cash flow for the six months ended Jun 30, 2023 (unaudited) Cash flow ($ mn) Operating Mainly driven by operating loss, higher levels of inventory and trade payables payments 1,064 1,057 974 (39) Investing Primarily as a result of Polestar 2, Polestar 3 and
Slide 15: 2023 outlook
Financial and operational highlights 15 — 2023 outlook Global volumes Gross profit margin Cash balance at 30 Jun 2023 60-70k ~4% ~$1bn Expect to deliver 60,000-70,000 vehicles in Expect stronger second half of the year, Working on multiple options to address the 2023, an annual growth of approximate
Slide 16: Imagery
Imagery
Slide 17: Polestar 2 Model Year 24
Polestar 2 17 — Model Year 24
Slide 18: Polestar 3 Dynamic debut at Goodwood Festival of Speed
Polestar 3 18 — Dynamic debut at Goodwood Festival of Speed
Slide 19: Polestar 4 The electric SUV coupé
Polestar 4 19 — The electric SUV coupé
Slide 20: Polestar 5 Dynamic debut at Goodwood Festival of Speed
Polestar 5 20 — Dynamic debut at Goodwood Festival of Speed
Slide 21: Polestar 6 The electric roadster
Polestar 6 21 — The electric roadster
Slide 22: Appendix
Appendix
Slide 23: Unaudited condensed consolidated statement of loss and comprehensive loss
Financial statements 23 — 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 June 30, For the six months ended June 30, 2023 2022 2023 2022 Revenue 685,247 589,070 1,231,2
Slide 24: Unaudited condensed consolidated statement of financial position
Financial statements 24 — Unaudited condensed consolidated statement of financial position in thousands of U.S. dollars June 30, 2023 December 31, 2022 in thousands of U.S. dollars June 30, 2023 December 31, 2022 Assets Liabilities Non-current assets Non-current liabilities Intangible assets and goo
Slide 25: Unaudited condensed consolidated statement of cash flows
Financial statements 25 — Unaudited condensed consolidated statement of cash flows For the six months ended For the six months ended in thousands of U.S. dollars June 30, in thousands of U.S. dollars June 30, 2023 2022 2023 2022 Cash flows from operating activities Cash flows from investing activiti
Slide 26: Unaudited reconciliation of GAAP and Non-GAAP results
Financial statements 26 — Unaudited reconciliation of GAAP and Non-GAAP results Non-GAAP financial measures Polestar uses both generally accepted accounting principles (i.e., IFRS known as “GAAP”) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance, internal comparison
Slide 27: Contact information
Investor update for preliminary unaudited results for the six months ended June 30, 2023 — Contact information 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 th
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