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, ROUNDUP: Tesla makes first annual profit – expectations still missed | message, Forex-News, Forex-News
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ROUNDUP: Tesla makes first annual profit – expectations still missed | message

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, ROUNDUP: Tesla makes first annual profit – expectations still missed | message, Forex-News, Forex-News


, ROUNDUP: Tesla makes first annual profit – expectations still missed | message, Forex-News, Forex-News

PALO ALTO (dpa-AFX) – The US electric car manufacturer Tesla has made its sixth quarter in the black in a row and closed a full calendar year with profit for the first time. Despite the corona crisis, the tech billionaire company reached Elon Musk 2020 a surplus of 721 million dollars (595 million euros), as it announced on Wednesday after the US exchange closed. In the previous year, Tesla had to deal with a loss of $ 862 million. The proceeds climbed 28 percent to $ 31.5 billion.

Despite the first annual profit since the company was founded in 2003, the numbers were not well received by investors, and the shares initially reacted with a price drop of around four percent. Because Tesla missed expectations in the final quarter. Although Musks group made another profit, this was less than assumed on the market at $ 270 million. Meanwhile, the revenues grew year-on-year by a strong 46 percent to 10.7 billion dollars and thus exceeded the forecasts of the analysts slightly.

Among other things, the fact that Tesla only issued a vague delivery target for the current year caused disillusionment on the market. The company, which in the past often struggled with the ambitious specifications of CEO Musk, this time refrained from a specific target. Instead, it was simply said that the aim was to exceed the growth rate of 50 percent from last year. That would mean that Tesla is aiming to deliver around 750,000 cars worldwide in 2021. In 2020 there were almost 500,000.

Tesla’s profit margin, which is highly regarded on the financial market, has also deteriorated significantly recently, which dampens hopes for lasting profitability. The group makes a significant part of its income by trading emissions certificates that other car manufacturers need to offset their emissions balance and thus meet legal requirements in California or Europe, for example. Without this income, which amounted to $ 1.6 billion last year and $ 401 million in the final quarter, Tesla would not have made any money.

Despite the last quarter, which was rather disappointing from the shareholders’ point of view, 2020 was an extremely successful one for Tesla. On the stock exchange, Musk’s company was one of the biggest winners with a price increase of around 700 percent, and Tesla, despite its still relatively modest production figures and profits, is by far the car manufacturer with the world’s highest stock market rating. With its longest profit streak to date and the rise in the renowned US stock index S&P 500, the group, which was still considered a possible bankruptcy candidate around two years ago, reached important milestones./hbr/DP/he



, ROUNDUP: Tesla makes first annual profit – expectations still missed | message, Forex-News, Forex-News

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, ROUNDUP: Tesla makes first annual profit – expectations still missed | message, Forex-News, Forex-News

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