Tesla Made Nearly $600 Million In 2020, The First Annual Profit In Its History.

2021-01-28   |   by CusiGO

Tesla, the US multinational, ended its first full year profit in 2020 with a net profit of $721 million (596 million euros at current exchange rates), compared with a loss of $862 million (712 million euros) a year ago. According to the annual data released by the company, the results of the previous fiscal year were generated against the background of the California company’s six consecutive quarters of profits.

The company stressed that the increase in profitability was due to increased sales and liquidity, which offset the $1.7 billion (1.404 billion euros) paid to Elon Musk, CEO and founder of Tesla, And with the company’s stock market development. In the fourth quarter of last year alone, musk was paid $267 million (220 million euros).

In 2020, the auto multinational company will achieve a revenue of 31.536 billion US dollars (26.062 billion euros), an increase of 28% over the previous year, and an operating profit margin of 6.3%, higher than – 0.3% of the previous year. The year-end adjusted gross operating profit (EBITDA) was US $5.817 billion (EUR 4.806 billion), an increase of 95% over 2019.

The U.S. company registered 180667 units worldwide in the fourth quarter of 2020, an increase of 61% over the same period in 2019, while its quarterly production increased 71% to 179757 units. By the end of this year, the car company had 2564 super chargers (a network with fast charging points) worldwide, up 41% from the previous year. There were 23277 filling points, an increase of 45%.

By 2021, the company plans to increase production, with an average annual sales growth of 50%. Also this year, Tesla is expected to begin delivering production vehicles at two new plants in Germany and the United States, and will begin selling its first industrial vehicle, the semi.