Tesla has released the financial figures for the past year. Especially in the fourth quarter things went very well in terms of turnover and sales. Extra special: for the first time, Tesla has recorded net profit over a full year.
For many car manufacturers, 2020 was definitely not an optimal year, but that is not the case for Tesla. In the first half of the year it still had to get going a bit, but Tesla gained momentum in the last quarter of 2020 in particular. Revenues in that quarter were $ 10.7 billion (€ 8.8 billion), a growth of 46 percent compared to the fourth quarter of 2019. For full-year 2020, Tesla had revenues of $ 31.5 billion (€ 26 billion). Compared to 2019, that figure represents a growth of 28 percent. Tesla’s operating profit (before tax and interest) in 2020 was $ 5.8 billion (€ 4.7 billion). In 2019 that was converted to € 2.4 billion. More importantly: at the bottom of the line, a converted net profit of € 595 million remains. Last year, the company posted a net loss of € 712 million.
Favorable perspective
All in all, Tesla seems to be in a pretty good position at the start of 2021. The annual report was immediately used for the unveiling of the facelifted Model S. At the end of last year the brand opened the Gigafactory in Shanghai and this year the factories in Berlin and Texas are ready. With these factories, Tesla can further increase production capacity. In addition, the brand wants to start producing ‘structural batteries’ with self-designed battery cells in those factories. Tesla announced these improvements on Battery Day late last year. The first Tesla Semi truck must also be delivered at the end of the year. In addition, Tesla wants to take steps with Full Self Driving next year, but the brand does not mention a concrete target for this in the annual report.