Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q1 2022 Earnings Presentation
18 slides from Microvast's earnings presentation, May 16, 2022
Slide 1: Microvast Holdings, Inc. Q1 2022
MICROVAST HOLDINGS, INC. Q1 2022 May 16, 2022
Slide 2: Disclaimer: Forward-Looking Statements and Non-GAAP Financial Measures
2 DISCLAIMER Forward-Looking Statements ▪ This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectiv
Slide 3: Q1 Highlights
*~ Q1 HIGHLIGHTS
Slide 4: Exceeded Q1 sales expectations while maintaining strong backlog
4 Exceeded Q1 sales expectations while maintaining strong backlog Q1 2022 Q1 CHALLENGES ▪ Rapid increase in raw material prices ▪ Global inflation ▪ Supply chain disruptions ▪ Semiconductor shortages Q 1 H IG H L IG H T S Q1 KEY STATS $36.7M Revenue 145.5% YoY Revenue Growth $62.0M Order intake $120
Slide 5: Robust Business Growth Through Partnerships & Major Project Developments
5 Robust Business Growth Through Partnerships & Major Project Developments in the Global Commercial Vehicle Market Q1 2022 New Crossway Low Entry City & Intercity bus OEM Vehicle Battery Size Highlights 400 – 466 kWh First delivery in mid-2023 eShuttle 84 kWh > $100M over the next 6 years 12T Hybrid
Slide 6: Q1 Sizable Order Intakes & Operational Update
6 Q1 Sizable Order Intakes & Operational Update: order intake of $62.0M OPERATION 28,000+ Battery Systems in Operation 28 / 220+ Countries / Cities where Products Are in Operation 6.9 Bn+ Miles Operational Distance Covered Q1 2022 Q1 Order Intake O th e r O rd e rs M a jo r O rd e r ▪ $10.1M ▪ Vario
Slide 7: Microvast Launches New Li-ion Battery Cells & Next-Gen Packs
7 MV new product portfolio enables our customers to easily optimize vehicle design in terms of energy density and cycle life, delivering improved overall performance and reducing total cost of ownership while preserving fast-charging capabilities. Microvast Launches New Li-ion Battery Cells & Next-G
Slide 8: Pursuing industry leading sustainable battery solutions
8 Microvast will continue its pursuit of being an industry leading sustainable battery solutions provider ▪ 1st Sustainability Assessment in the battery industry ▪ Regular tracking and monitoring of sustainability goals ▪ Covers the entire value chain - from mining, raw materials and battery product
Slide 9: Financials
9 FINANCIALS
Slide 10: Microvast Q1 Financials: Statement of Operations
10 MICROVAST Q1 FINANCIALS Unaudited Condensed Consolidated Statement of Operations (USD’000) Three-month Ended March 31 2022 2021 YoY(%) Revenues 36,668 14,938 145% Cost of sales (36,655) (16,175) 127% Gross profit 13 (1,237) 101% Gross Margin -% (8.3%) Selling and marketing expenses (5,998) (3,156
Slide 11: Q1 2022 Unaudited Adjusted Financials
11 MICROVAST Q1 FINANCIALS 2022 Q1 Unaudited Adjusted Financials (USD’000) Three-month Ended March 31 2022 2021 Revenues 36,668 14,938 Adjusted Cost of Sales （34,756) (16,175) Adjusted Gross profit (loss) 1,912 (1,237) Adjusted Gross Margin 5.2% (8.3%) Adjusted Operating Expenses (31,050) (11,516) A
Slide 12: Q1 2022 Revenue by Region
12 Q1 2022 2022 Q1 Revenue by Region - (USD’000) Revenue by region Three Months Ended March 31 (USD’000) YoY change 2022 % 2021 % % APAC (Excluding PRC) 13,404 37% 1,842 12% 628% PRC 19,838 54% 10,642 71% 86% EMEA 2,751 7% 2,327 16% 18% USA 675 2% 127 1% 432% Total 36,668 100% 14,938 100% 145% EMEA
Slide 13: Q1 2022 Cash Bridge
13 Q1 2022 2022 Q1 Cash Bridge (US$mn) - strong cash position, capacity expansions fully funded, low debt levels, and growing Fixed Asset base (that is unencumbered)
Slide 14: Outlook
14 OUTLOOK
Slide 15: Our Capacity & Sustainability Plans
15 Our Capacity & Sustainability Plans Capacity Expansion Sustainability ▪ Total Investment budget: $180M ▪ Additional capacity 2 GWh per annum - Ramping-up in Q4/2022; ▪ New building supports up to 12 GWh per annum (additional utility infrastructure required) ▪ SOP in Q1 2023 ▪ Optimization of prod
Slide 16: Our execution plans
16 Our execution plans ▪ Positive business momentum projected for 2022. We expect to grow revenue in the range of 35 to 45% compared to 2021 ▪ We expect to grow forecasted revenue with new multi-year supply contracts. ▪ Full launch of our next generation battery solutions to further drive global sal
Slide 17: Webcast Information
17 WEBCAST INFORMATION ▪ Microvast’s management will host a live webcast to review this presentation, including an overview of its Q1 2022 financial results, at 5:00 p.m. Central Time on May 16, 2022. ▪ The event can be accessed at the “Events and Presentations” section of our investor relations web
Slide 18: Thinking Forward. Powering Now.
Thinking Forward. Powering Now.