Sono Group (SEVCF) Emerging Growth Conference 81 summary

Financial performance and reporting

• Reported a profit of EUR 65 million for 2024, driven by reconsolidation gains and lean operations.

• Net equity improved, and all debt is being converted to equity to meet Nasdaq uplisting requirements.

• G&A expenses cut by 65% and development expenses by 93%; net cash outflows decreased by 71%.

• Transitioned from IFRS to U.S. GAAP and from foreign private issuer to domestic filer, increasing reporting frequency and transparency.

• Additional funding secured, with cash runway expected through Q1 2026.

Strategic partnerships and market expansion

• Signed a global partnership with Merlin Solar Technologies, enabling expansion into North and South America without increasing operational costs.

• Partnership with Merlin Solar will generate incremental revenue in 2025 and beyond.

• Focused on integrating solar solutions directly into OEM production lines, working with five large OEMs.

• Achieved German national certification for the Solar Bus Kit, allowing fleet-wide integration without individual approvals.

• Exploring additional global joint ventures and partnerships for further geographic reach.

Operational highlights and organizational changes

• Reduced workforce from 450 to 40 employees in 2023, streamlining operations.

• Promoted Scott Calhoun to CFO as part of Nasdaq uplisting preparations.

• Management and supervisory boards are U.S.-based, with operations centered in Germany.

• Team in Germany is highly committed to sustainability and environmental goals.