Zhitong Financial APP News, Faraday (09638) announced results for the first quarter of 2022, with revenue of about 256 million euros, an increase of about 37.9% over the same period last year; adjusted EBITDA of 31.6 million euros, an increase of 78.4% over the same period last year; net profit of 13.1 million euros, an increase of 1.05% over the same period last year; profit margin of 5.4%, an increase of 190bp over the first quarter of 2021 (3.5%).
The earnings growth is due to the strong growth in cumulative orders established in 2021, the announcement said. New orders in the first quarter of 2022 were 394 million euros, an increase of about 97.2% year-on-year, thanks to strong global market demand. Cumulative orders reached 1.32 billion euros as of March 31, 2022, an increase of about 30% over December 31, 2021, thanks to strong growth in new orders during the period.