Will Tesla make a profit in 2020

Tesla 2020 with annual profit for the first time - investors nevertheless disappointed


© Tesla

Fremont, USA - The US electric vehicle manufacturer Tesla also closed the fourth quarter of the financial year with a plus. For the full year 2020, the US electric vehicle manufacturer posted a healthy profit. The share price is still on the defensive.

The US electric car manufacturer Tesla, which is listed in the renewable stock index RENIXX World, has presented the quarterly figures for the fourth quarter of 2020 (Q4 2020) and the full year 2020. Overall, the quarterly and full-year result is positive. Tesla has also announced more information about updates to its Model S and Model X.

Sixth quarterly profit in a row - first annual profit since the company was founded

The US electric car manufacturer Tesla also ended the fourth quarter of 2020 with a profit and was thus in the black for the sixth time in a row in a quarter. Overall, Tesla posted net income (according to GAAP) of $ 270 million ($ million) in the fourth quarter of 2020. Compared to the same quarter of the previous year, this is an increase of 157 percent (Q 4 2019: USD 105 million), compared to the previous quarter, however, a decrease of 18 percent (Q3 2020: USD 331 million). The US electric vehicle manufacturer's sales are also significantly better in the fourth quarter with an increase of 46 percent to USD 10.744 billion (USD billion) compared to the same quarter of the previous year (Q4 2019: USD 7.384 billion). On balance, Tesla closed the full year 2020 with a profit of 721 million US dollars, after a loss of 862 million US dollars in fiscal year 2019. Sales rose in 2020 by 28 percent to 31.536 billion US dollars (2019: 24.578 Billion USD).

From October to the end of December 2020, Tesla delivered a total of 180,667 vehicles, which is an increase of 61 percent compared to the same quarter of the previous year. Tesla produced 179,757 vehicles, which corresponds to an increase of 71 percent compared to the same quarter of the previous year. In 2020 as a whole, Tesla's deliveries of 500,000 vehicles are up 36 percent compared to the previous year 2019 (2019: 367,700) and with around 510,000 vehicles produced in total, an increase of 40 percent (2019: around 365,200).

Update for Model S and Model X announced

Tesla has also announced further information on the updates for the Model S and Model X as part of the quarterly balance sheet. According to Tesla, the redesigns announced as a plaid version will have a new drive train (including new battery modules, battery packs). Tesla has also published images of the new Model S Plaid, which shows a new interior design with a lot of wood optics including a large display. In addition, the vehicle chassis has received a design upgrade, especially in the area of ​​the front of the vehicle. The newly installed drive should enable the Model S to accelerate from 0 to 96 km / h in less than 2 seconds. This makes the new Model S Plaid the fastest vehicle that has ever been mass-produced, according to Tesla.

Share under pressure despite profit

Although Tesla 2020 has closed a financial year in the black for the first time since the company was founded in 2003, investors are reacting to the numbers with huff. The reason: Tesla did not meet expectations with the figures for the final quarter. Although sales in Q4 were above forecasts, with adjusted earnings per share of USD 0.8, expectations of just over USD 1 per share were not met. What was not well received by investors was that Tesla did not name a specific target for deliveries with a view to 2021, but merely stated that it wanted to increase them by 50 percent compared to the past fiscal year 2020, which is around 750,000 vehicles would correspond. In today's trading, the share of the RENIXX group gives way in a generally weak stock market environment. The share is currently down 5.34 percent at a price of EUR 677.10 (January 28, 2021, 12:56 p.m., Stuttgart stock exchange).

Source: IWR Online

 © IWR, 2021

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