American depository receipts from Nio Inc. fell more than 3% in Monday’s extended session after China-based electric car maker reported mixed fourth quarter results and said revenue for a “transformational” 2020 reached US $ 2 billion.
Nio NIO,
said it lost RMB 1.39 billion ($ 212.8 million) in the quarter, or 16 cents per ADR, compared to a loss of RMB 2.8 billion in the same period last year. Excluding single items, Nio lost $ 203.6 million, or 14 cents per share.
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Fourth-quarter revenue jumped 133% to $ 1.02 billion, the company said. Revenue for the year 2020 increased 108% to $ 2.49 billion, said Nio.
Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $ 1.025 billion.
Nio said he delivered 17,353 vehicles in the quarter, including 7,574 of his midsize SUV, the ES6. This compares to 8,224 vehicles in the fourth quarter of 2019.
For the year 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 transformational 2020”, said founder and chief executive William Li in a statement. That momentum continued in 2021, he said.
The company scheduled delivery of about 20,000 to 20,500 vehicles in the first quarter, which would represent an increase of between 15% and 18% compared to deliveries in the fourth quarter. He directed revenue between $ 1.13 billion and $ 1.16 billion for the quarter.
Nio’s shares ended the normal trading day with an increase of almost 9%. In the last 12 months, the stock gained 1,100%, compared to 32% of the S&P 500 SPX index,