Q: Hi, Could you please comment on LEV earnings. Thank you
5i Research Answer:
Revenue was US$58M, double last year. 2Q loss was $11.8M or 5c per share, vs net income of $37.5M or 19c last year. Revenue was 12% below estimates but the loss was better than (-10c) expected. EBITDA loss was also better than expected. It delivered 199 vehicles, more than double that of last year's quarter. Its order book now stands at 2,559 vehicles and 275 charging stations. Net debt has risen from $90M to $150M this year, and more capital is likely to be needed soon. But, operationally, it was a decent quarter.