Vinfast Auto Ltd. · NASDAQ:VFS
Vinfast Auto — Q4 2023 Earnings Presentation
27 slides from Vinfast Auto's earnings presentation, Feb 22, 2024
Slide 1: 4Q2023 and FY2023 Earnings Release
4Q2023 and FY2023 Earnings Release February 2024
Slide 2: Disclaimer
4Q2023 Earnings Release 2 Disclaimer Non-GAAP and Other Financial and Operating Metrics This presentation includes certain financial measures not prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”), including EBITDA and free cash flow (together, the “Non-GA
Slide 3: Table of Contents
4Q2023 Earnings Release 3 Table of Contents 4Q and Recent Highlights 04 Financial Summary 06 Operational Summary 07 Outlook 08 Appendix 09 Financial Statements 23
Slide 4: 4Q and Recent Highlights: Bold Expansion of Product Offering and Distribution Network
4Q2023 Earnings Release 4 4Q and Recent Highlights: Bold Expansion of Product Offering and Distribution Network Continued • Delivered 13,513 electric cars and 24,309 e-scooters in Q4 Financials positive growth (4Q & FY2023) $ 437mn Q4 revenue, +26% • 34,855 electric cars and 72,468 e-scooters in FY
Slide 5: VF 7 – Now Available to Order in Vietnam
4Q2023 Earnings Release 5 VF 7 – Now Available to Order in Vietnam $35,616 Starting MSRP1 233 mi / 375 km Expected WLTP Range 24 min Charging Speed (10-70% charge) 349 hp / 500 Nm Max Power and Max Torque2 Notes: Specifications depend on configuration and trim. USD/VND assumed to be 23,866 1. Starti
Slide 6: Financial Summary
4Q2023 Earnings Release 6 Financial Summary $mn, except per share data 2023 Q4 2023 Q3 2022 Q41 QoQ YoY FY2023 FY2022 YoY Total Revenue 437 346 187 +26% +133% 1,198 627 +91% Gross Profit/(Loss) (175) (103) (155) +69% +13% (552) (514) +7% % Gross Margin (40.1%) (29.9%) (82.6%) (1,020bp) +4,250bp (46.
Slide 7: Operational Summary
4Q2023 Earnings Release 7 Operational Summary 2023 Q4 2023 Q3 QoQ FY2023 FY2022 YoY EVs1 13,513 10,027 +35% 34,855 7,355 +374% E-scooters 24,309 28,220 -14% 72,468 60,044 +21% Total Deliveries 37,822 38,247 -1% 107,323 67,399 +59% • QoQ vehicle sales: Strong uptake in VF 8 and VF e34 orders. E-scoot
Slide 8: Outlook – More VinFast Vehicles on the Road Globally and Continual Cost Optimization
4Q2023 Earnings Release 8 Outlook – More VinFast Vehicles on the Road Globally and Continual Cost Optimization Deliveries Capex Liquidity Cost optimization FY24 electric vehicles target of Similar run-rate with FY 2023. Focus will be on the ~$1.8 billion Reduce approximately 40% BOM costs within 100
Slide 9: Appendix
9 Appendix
Slide 10: Financial Performance
4Q2023 Earnings Release 10 Financial Performance 2,000 Revenue Gross profit/ (loss) and gross margin EBITDA (non-GAAP)(1) 1,800 USD mn USD mn USD mn Gross profit margin 2023 vs. 2022: + 91% 1,600 (82.0%) (46.0%) (193.2%) (34.1%) (29.9%) (40.1%) 2022 2023 1Q23 2Q23 3Q23 4Q23 2022 2023 1Q23 2Q23 3Q23
Slide 11: Financial Performance
4Q2023 Earnings Release 11 Financial Performance SG&A Expenses(1) R&D Expenses Capital expenditures Net profit (loss) USD mn USD mn USD mn USD mn 2022 2023 1Q23 2Q23 3Q23 4Q23 452 835 1,052 386 (525) (592) (629) (650) 609 741 318 341 115 116 121 210 100 213 151 133 180 115 (2,089) (2,396) 2022 2023
Slide 12: Financial Performance
4Q2023 Earnings Release 12 Financial Performance Cash & cash equivalents Short and long-term debt(1) Net increase / (decrease) in cash USD mn USD mn USD mn CFO CFI CFF Short-term debt Long-term debt 54 179 65 168 157 2,986 6 2,800 2,218 2,571 38 132 1,270 2,355 2,342 1,065 1,264 574 335 (85) (341) (
Slide 13: VinFast at the Indonesia International Motor Show 2024 – Jakarta
VinFast at the Indonesia International Motor Show 2024 – Jakarta 13
Slide 14: VinFast at the Indonesia International Motor Show 2024 – Jakarta
VinFast at the Indonesia International Motor Show 2024 – Jakarta 14
Slide 15: VinFast at the Consumer Electric Show 2024 – Las Vegas
VinFast at the Consumer Electric Show 2024 – Las Vegas 15
Slide 16: VF 3 – Exterior
VF 3 – Exterior 16 Note: Images shown contain pre-production level vehicles. Actual production vehicles may differ. Vehicle may show optional accessories that are not included in base vehicle.
Slide 17: VF 7 – Exterior
VF 7 – Exterior 17
Slide 18: VF 7 – Interior
VF 7 – Interior 18
Slide 19: VinFast at the Consumer Electric Show 2024 – Las Vegas
VinFast at the Consumer Electric Show 2024 – Las Vegas 19
Slide 20: VF Wild – Exterior
VF Wild – Exterior 20 Note: Images shown contain pre-production level vehicles. Actual production vehicles may differ. Vehicle may show optional accessories that are not included in base vehicle.
Slide 21: VF Wild – Interior
VF Wild – Interior 21 Note: Images shown contain pre-production level vehicles. Actual production vehicles may differ. Vehicle may show optional accessories that are not included in base vehicle.
Slide 22: Financial Statements
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Slide 23: Condensed Consolidated Statement of Operations
4Q2023 Earnings Release 23 Condensed Consolidated Statement of Operations For the Three Months Ended December 31, For the Year Ended December 31, $mn, except per share data 2023 2022 2023 2022 Revenue 437 187 1,198 627 COGS (611) (342) (1,750) (1,141) Gross profit/ (loss) (175) (155) (552) (514) % G
Slide 24: Condensed Consolidated Balance Sheet
4Q2023 Earnings Release 24 Condensed Consolidated Balance Sheet $mn December 31, 2023 December 31, 2022 $mn December 31, 2023 December 31, 2022 ASSETS LIABILITIES Short-term and current portion of long-term interest-bearing loans and Cash & Cash Equivalents 168 179 1,721 611 borrowings, debenture no
Slide 25: Condensed Consolidated Statement of Cash Flows
4Q2023 Earnings Release 25 Condensed Consolidated Statement of Cash Flows For the Three Months Ended December 31, For the Year Ended December 31, $mn, except per share data 2023 2022 2023 2022 Net cash flows used in operating activities (342) (423) (2,255) (1,493) Net cash flows used in investing ac
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures
4Q2023 Earnings Release 26 Reconciliation of GAAP to Non-GAAP Financial Measures $mn, except per share data 2023 Q4 2023 Q3 2022 Q4 2023 2022 Net loss attributable to controlling interest (GAAP) (650) (628) (640) (2,393) (2,086) Interest expense (146) (148) (105) (506) (334) Tax income/ (expense) (3
Slide 27: Contact Information
27 Contact Information VinFast Auto Ltd. 61 Robinson Road, #06-01, Singapore 068893 Website: https://ir.vinfastauto.us E-mail: ir@vinfastauto.com