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
May 11, 2023 Investor update for the three months ended March 31, 2023 Polestar Automotive Holding UK PLC
Slide 2: Disclaimer
Polestar 2 Disclaimer Forward-Looking Statements timing of expected business milestones and commercial launches, including Polestar’s ability Trademarks Certain statements in this presentation (“Presentation”) of Polestar Automotive Holding UK to mass produce its current and new vehicle models and c
Slide 3: Polestar
Polestar
Slide 4: Recent developments
Polestar 4 — Recent developments Record first quarter - delivered 12,0761 vehicles, up 26% year on year Generated $546mn2 in revenues, driven by higher Polestar 2 sales Intensified cost management with Polestar 3 adjusted start of production and tougher macro Adjusted 2023 global volume expectation
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 – Q1 2022 vs Q1 2023 2019 Polestar 2 Locations1 2022 Polestar 3 120 143 2023 Polestar 4 2024E Polestar 5 Service points2 2026E Polestar 6 842 1,117 27 01 02 03 Rapidly expanding product portfolio Growth in
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 11 — Key financial highlights for the three months ended Mar 31, 2023 (unaudited) Revenue Gross profit Cash and cash equivalents ($ mn) ($ mn) ($ mn) 21% 546 18 452 974 884 (7) Q1 2022 Q1 2023 Q1 2022 Q1 2023 FY2022 Q1 2023 Delivered $546mn in revenues Gross prof
Slide 12: Key financial highlights for the three months ended Mar 31, 2023
Financial and operational highlights 12 — Key financial highlights for the three months ended Mar 31, 2023 (unaudited) Revenue up 21% Driven by higher Polestar 2 sales across US$million Q1 2023 Q1 2022 %Change major geographic markets Revenue 546 452 21 Gross profit up $25mn With vehicle price incre
Slide 13: Cash flow for the three months ended Mar 31, 2023
Financial and operational highlights 13 — Cash flow for the three months ended Mar 31, 2023 (unaudited) Cash flow ($ mn) Operating Mainly driven by operating loss, higher inventory and trade payables repayments Investing 974 326 884 Mainly driven by Polestar 2, Polestar 3 (2) and Polestar 4 intellec
Slide 14: 2023 outlook
Financial and operational highlights 14 — 2023 outlook Global volumes Gross profit margin Cash balance at 31 Mar 2023 60-70k ~400bps $884mn Expect global volumes of 60-70k, Expect gross profit margin of around 4%. With support from major shareholders and representing annual growth of 16%-36%. Revise
Slide 15: Imagery
Imagery
Slide 16: Polestar 2 Model Year 24
Polestar 2 16 — Model Year 24
Slide 17: Polestar 2 BST edition 230
Polestar 2 17 — BST edition 230
Slide 18: Polestar 3 The SUV for the electric age
Polestar 3 18 — The SUV for the electric age
Slide 19: Polestar 4 The electric SUV coupé
Polestar 4 19 — The electric SUV coupé
Slide 20: Polestar 5 The electric 4-door GT
Polestar 5 20 — The electric 4-door GT
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 March 31 2023 2022 Revenue 546,018 452,227 Cost of sales (527,596) (459,492) Gross profit/ (lo
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 March 31, 2023 December 31, 2022 in thousands of U.S. dollars March 31, 2023 December 31, 2022 Assets Liabilities Non-current assets Non-current liabilities Intangible assets and g
Slide 25: Unaudited condensed consolidated statement of cash flows
Financial statements 25 — Unaudited condensed consolidated statement of cash flows For the three months ended For the three months ended in thousands of U.S. dollars March 31, in thousands of U.S. dollars March 31, 2023 2022 2023 2022 Cash flows from operating activities Cash flows from investing ac
Slide 26: Unaudited reconciliation of GAAP and Non-GAAP results
Financial statements 26 — Unaudited reconciliation of GAAP and Non-GAAP results Non-GAAP Financial Information Polestar uses both generally accepted accounting principles (“GAAP,” i.e., IFRS) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance, for internal comparisons
Slide 27: Contact information
Investor update for preliminary unaudited results for the three months ended March 31, 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
Polestar Automotive Holding UK — Q1 2023 Earnings Presentation on 6ix