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Tesla makes nearly 600 million in 2020, the first annual profit in its history

2021-01-29T01:07:38.721Z


Elon Musk, CEO of the car manufacturer, has earned a bonus of 1.4 billion for the good performance of the company on the stock market


A Tesla charging station in California, Jan. 4. PATRICK T. FALLON / AFP

The American multinational Tesla closed its first full year with profits in 2020, registering an attributed net profit of 721 million dollars (596 million euros at the current exchange rate), compared to losses of 862 million dollars (712 million euros). ) registered one year earlier.

According to the annual data published by the company, the result of last year occurs in a context in which the Californian firm accumulates six consecutive positive quarters.

The company highlights that the increase in profitability was motivated by an increase in sales volumes and the generation of liquidity, factors that offset an item of 1.7 billion dollars (1,404 million euros) paid to Elon Musk, CEO and founder Tesla, and linked to the stock market performance of the firm.

Only in the fourth quarter of last year, this compensation to Musk stood at 267 million dollars (220 million euros).

In 2020, the automotive multinational achieved revenues of 31,536 million dollars (26,062 million euros), which represents a progression of 28% compared to the previous year, while the operating margin stood at 6.3% compared to - 0.3% from a year earlier.

Adjusted gross operating profit (ebitda) at the end of the year was 5,817 million dollars (4,806 million euros), 95% more in the comparison with 2019.

The US firm registered a worldwide registration volume of 180,667 units in the fourth quarter of 2020, 61% more than in the same period of 2019, while the quarterly production volume increased 71%, to 179,757 units.

At the end of the year, the car company had a network made up of 2,564 superchargers (its own network of fast charging points) around the world, 41% more than the previous year.

In total, it had 23,277 charging points, 45% more.

Looking ahead to 2021, the firm plans to improve its production volume and estimates to register an average annual sales growth of 50%.

Also this year, Tesla expects to start the delivery of cars manufactured in two new plants located in Germany and the United States, and will begin the commercialization of Semi, its first industrial vehicle.

Source: elparis

All business articles on 2021-01-29

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