Nio sales surpass $ 2 billion in a ‘transformational’ year

Nio Inc.’s US deposit receipts fell more than 3% in the extended session on Monday after the China-based electric car maker reported mixed fourth-quarter results and said revenue for a “transformational” 2020 exceeded. the 2,000 million dollars.

Nio NIO,
+ 8.69%
It said it lost RMB 1.39 billion ($ 212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB 2.8 billion in the same period a year earlier. Excluding one-time items, Nio lost $ 203.6 million, or 14 cents a share.

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Fourth quarter revenue increased 133% to $ 1.02 billion, the company said. Revenue for the full year 2020 increased 108% to $ 2.49 billion, Nio said.

Analysts surveyed by FactSet expected a quarterly loss of 6 cents per ADR on sales of $ 1.025 billion.

Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its midsize SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.

For all of 2020, it delivered 43,728 vehicles, out of 20,565 vehicles in 2019.

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Fourth quarter deliveries were a record for the company and concluded “a transformative 2020,” founder and CEO William Li said in a statement. That momentum has continued into 2021, he said.

The company was on track to deliver between 20,000 and 20,500 vehicles in the first quarter, which would represent an increase of between 15% and 18% over deliveries in the fourth quarter. Led by revenue between $ 1.13 billion and $ 1.16 billion for the quarter.

Nio shares closed the normal trading day up nearly 9%. Over the past 12 months, the stock has gained 1,100%, compared to 32% for the S&P 500 SPX Index.
+ 2.38%.


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