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Northvolt (NV) investor relations material
Northvolt Q4 2023 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved $128 million in revenue in 2023, up from $107 million in 2022, with significant investments in production ramp-up and R&D.
Secured $7 billion in additional financing, bringing total funding to $15 billion, and maintained an order book exceeding $50 billion.
Expanded workforce to 5,860 employees from 116 countries, surpassing 5,000 employees mid-year.
Launched new sodium-ion battery technology and announced Northvolt Six gigafactory in Canada, marking the largest private investment in Quebec.
Maintained industry-leading ESG ratings and signed the largest green loan in European history.
Financial highlights
Revenue increased to $128 million in 2023 from $107 million in 2022.
Adjusted EBITDA loss widened to -$569 million from -$276 million year-over-year.
Adjusted EBIT loss was -$662 million, compared to -$322 million in 2022.
CapEx investment reached $1.8 billion, up from $1.4 billion in 2022.
Cash and cash equivalents stood at $2.1 billion at year-end.
Outlook and guidance
Focus on expanding large-scale production at Northvolt Ett and further ramp-up of gigafactory capacity.
Targeting 150 GWh installed cell manufacturing capacity and 25% market share in Europe by 2030.
Continued heavy investment phase expected, with ongoing expansion in Europe and North America.
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