NIO
NIO Inc
Q3 2024 Report
NIO Inc (NIO) Q3 2024 Financial Results: Navigating Growth amidst Challenges...
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Executive Summary
In the third quarter of 2022, NIO Inc. continues to demonstrate resilient growth in a challenging market, achieving a record delivery of 31,607 smart electric vehicles (SEVs), marking a 29.3% increase year-over-year. While the company reported a revenue of CNY 13.0 billion, an increase of 32.6% year-over-year, it faced significant operational losses amounting to CNY 4.1 billion, underscoring the pressures of rising costs, particularly in battery materials and ongoing supply chain constraints. Management remains optimistic about upcoming models and expansion in European markets, indicating a potential turnaround in the near future, with guidance of 43,000 to 48,000 vehicle deliveries in Q4 2022 and a strategic focus on both quality and innovation.
Key Performance Indicators
Revenue
13.00B
QoQ: 26.33% | YoY:32.60%
Gross Profit
1.74B
13.34% margin
QoQ: 29.46% | YoY:-12.95%
Operating Income
-3.87B
QoQ: 36.01% | YoY:290.18%
Net Income
-4.11B
QoQ: 49.08% | YoY:392.13%
EPS
-2.51
QoQ: 48.52% | YoY:370.04%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: CNY 13.0 billion, up by 32.6% YoY and 26.3% QoQ.
- **Gross Profit**: CNY 1.73 billion, reflecting a gross margin of 13.3%, down from 20.3% YoY and slightly up from 13.0% QoQ.
- **Net Income**: Net loss increased to CNY 4.1 billion, a 392.1% and 49.1% increase YoY and QoQ, respectively.
- **EBITDA**: Reported EBITDA loss of CNY 4.0 billion.
- **Vehicle Margin**: 16.4%, with influences from rising battery costs.