Press Release: Lion Electric Announces Third -2-
Press Release: Lion Electric Announces Third -2-
Transaction costs of $13.7 million nine months ended September 30, 2021 were related to the completion of the Company's business combination and plan of reorganization with Northern Genesis Acquisition Corp. (the "Business Combination") and were mainly composed of legal, banking, and other professional fees.
截至2021年9月30日的9個月的1370萬美元的交易成本與公司完成與Northern Genesis收購公司的業務合併和重組計劃(“業務合併”)有關，主要由法律、銀行和其他專業費用組成。
Finance Costs
融資成本
For the three months ended September 30, 2021, finance costs decreased by $1.6 million compared to the corresponding period in the prior year as a result of a significantly lower amount of average debt outstanding during the period as a result of certain debt repayments or reclassification to common shares of these related debts, which occurred on May 6, 2021, as part of the closing of the Business Combination.
在截至2021年9月30日的三個月裏，融資成本比上一年同期減少了160萬美元，這是因為作為業務合併結束的一部分，2021年5月6日發生的某些債務償還或這些相關債務的普通股重新分類導致這一時期的平均未償債務大幅減少。
For the nine months ended September 30, 2021 finance costs increased by $1.5 million, compared to the corresponding period in the prior year. The increase was driven primarily by an increase in borrowing costs due to an increase in the amount of average debt outstanding and an increase in interest expense on convertible debt instruments, partially offset by lower accretion expense on retractable common shares. These costs were incurred up until the respective repayments or reclassification to common shares of these related debts, which occurred on May 6, 2021, as part of the closing of the Business Combination.
在截至9月30日的9個月裏，與去年同期相比，2021年的財務成本增加了150萬美元。這一增長主要是由於平均未償還債務金額增加以及可轉換債務工具利息支出增加而導致的借款成本增加，但部分抵消了可伸縮普通股增加費用的減少。這些成本一直在發生，直到2021年5月6日作為業務合併結束的一部分，對這些相關債務的普通股進行了相應的償還或重新分類。
Foreign Exchange (Gain) Loss
外匯(收益)損失
Foreign exchange gains and losses for all periods presented relate primarily to the revaluation of net monetary assets denominated in foreign currencies. Foreign exchange gains for the three and nine months ended September 30, 2021, increased by $2.1 million and $1.0 million respectively, compared to the corresponding periods in the prior year, largely as a result of a weakening of the Canadian dollar relative to the U.S. dollar during such periods of 2021, as compared to the comparative periods of 2020.
所有列報期間的匯兑損益主要與以外幣計價的貨幣淨資產重估有關。截至2021年9月30日的三個月和九個月的外匯收益分別比去年同期增加了210萬美元和100萬美元，這主要是由於與2020年同期相比，2021年這兩個時期加元相對於美元的疲軟。
Change in Fair Value of Share Warrant Obligations
認股權證義務的公允價值變動
Gains on change in fair value of share warrant obligations increased from $0.4 million for the three months ended September 30, 2020, to gains of $138.4 million and $39.2 million, respectively, for the three and nine months ended September 30, 2021. The significant gains for the three and nine months ended September 30, 2021, were related to the warrants issued to a customer in July 2020 and the public and private warrants issued as part of the closing of the Business Combination on May 6, 2021, and resulted mainly from the decrease in the market price of Lion equity as compared to the previous valuations.
認股權證債務公允價值變化收益從截至2020年9月30日的三個月的40萬美元增加到截至2021年9月30日的三個月和九個月的1.384億美元和3920萬美元。截至2021年9月30日的三個月和九個月的顯著收益與2020年7月向一名客户發行的權證以及作為2021年5月6日業務合併結束的一部分而發行的公共和私人認股權證有關，主要原因是獅子股權的市場價格與之前的估值相比有所下降。
Net Earnings (Loss)
淨收益(虧損)
The net earnings for the three months ended September 30, 2021 as compared to the net loss for the corresponding prior period were largely due to the decrease in the fair value of share warrant obligations, and lower share-based compensation (included in administrative and selling expenses).
截至2021年9月30日的三個月的淨收益與上一時期的淨虧損相比，主要是由於認股權證義務的公允價值減少，以及基於股票的補償(包括在行政和銷售費用中)減少。
The higher net loss for the nine months ended September 30, 2021 as compared to the corresponding prior period was largely due to higher administrative and selling expenses (including share-based compensation) and transaction costs, partially offset by the decrease in the fair value of share warrant obligations.
與上年同期相比，截至2021年9月30日的9個月的淨虧損增加，主要原因是行政和銷售費用(包括基於股份的補償)和交易成本增加，但部分被認股權證債務公允價值的減少所抵消。
CONFERENCE CALL
電話會議
A conference call and webcast will be held on November 11, 2021, at 8:30 a.m. (Eastern Time) to discuss the results.
電話會議和網絡直播將於2021年11月11日上午8：30舉行。(東部時間)討論結果。
To participate in the conference call, dial (236) 714-3941 or (833) 329-1697 (toll free). An investor presentation and a live webcast of the conference call will also be available at www.thelionelectric.com under the "Events and Presentations" page of the "Investors" section. An archive of the event will be available for a period of time shortly after the conference call.
要參加電話會議，請撥打(236)714-3941或(833)329-1697(免費)。投資者介紹和電話會議的現場網絡直播還將在www.thelionElectric.com的“投資者”欄目的“活動和介紹”頁面下收看。該活動的檔案將在電話會議後不久的一段時間內提供。
FINANCIAL REPORT
財務報告
This release should be read together with our 2021 third quarter financial report, including the unaudited interim consolidated financial statements of the Company as at and for the quarter ended September 30, 2021 and related management's discussion and analysis ("MD&A"), which will be filed by the Company with applicable Canadian securities regulatory authorities and with the U.S. Securities and Exchange Commission and which will be available on our website at www.thelionelectric.com.
本新聞稿應與我們的2021年第三季度財務報告一起閲讀，包括公司截至2021年9月30日及截至2021年9月30日的季度的未經審計的中期綜合財務報表以及相關管理層的討論和分析(“MD&A”)，這些報告將由公司提交給適用的加拿大證券監管機構和美國證券交易委員會(SEC)，並將在我們的網站www.thelionElectric.com上查閲。
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) AND COMPREHENSIVE EARNINGS (LOSS)
合併收益表(虧損)和綜合收益表(虧損)
For the three and nine months ended September 30, 2021 and 2020
截至2021年9月30日和2020年9月30日的三個月和九個月
(Unaudited, in US dollars)
(未經審計，美元)
Three months ended Nine months ended
September 30, September 30, September 30, September 30,
2021 2020 2021 2020
$ $ $ $
Revenue 11,925,381 2,612,522 34,839,798 9,918,436
Cost of sales 13,152,702 3,144,848 36,974,147 10,458,064
Gross profit (1,227,321) (532,326) (2,134,349) (539,628)
Administrative
expenses 9,969,149 26,689,652 66,241,280 28,595,968
Selling
expenses 5,208,478 9,103,547 22,930,325 11,569,397
Transaction -- -- 13,654,851 --
costs
Operating loss (16,404,948) (36,325,525) (104,960,805) (40,704,993)
Finance costs 229,494 1,838,594 7,138,518 5,603,117
Foreign
exchange
(gain) loss (1,223,617) 868,016 (1,299,708) (283,061)
Change in fair
value of share
warrant
obligations (138,423,798) (444,061) (39,208,584) (444,061)
Net earnings
(loss) for the
period 123,012,973 (38,588,074) (71,591,031) (45,580,988)
Other
comprehensive
earnings (loss)
Item that will
be subsequently
reclassified to
net earnings
(loss)
Foreign
currency
translation
adjustment 1,033,693 (601,838) (3,412,890) (754,977)
Comprehensive
earnings
(loss) for the
period 124,046,666 (39,189,912) (75,003,921) (46,335,965)
Earnings (loss)
per share
Basic earnings
(loss) per
share 0.65 (0.35) (0.47) (0.41)
Diluted
earnings
(loss) per
share 0.60 (0.35) (0.47) (0.41)
截至三個月截至九個月九月三十號，九月三十號， 2021 2020 2021 2020 $ $ $ $ 收入11,925,381 2,612,522 34,839,798 9,918,436銷售成本13,152,702 3,144,848 36,974,147 10,458,064毛利(1,227,321)(532,326)(2,134,349)(539,628)行政性開支9969,149 26,689,652 66,241,280 28,595,968賣開支5,208,478 9,103,547 22,930,325 11,569,397交易-13,654,851--費用營業虧損(16,404,948)(36,325,525)(104,960,805)(40,704,993)財務成本229,494 1,838,594 7,138,518 5,603,117外國兑換(收益)虧損(1,223,617)868,016(1,299,708)(283,061)公平的變化股份價值搜查令債務(138,423,798)(444,061)(39,208,584)(444,061)淨收益(損失)期間123,012,973(38,588,074)(71,591,031)(45,580,988)其他全面收益(虧損)將執行以下操作的項目隨後是重新分類為淨收益(虧損)外國貨幣翻譯調整數1033693(601838)(3412890)(754 977)全面收益(損失)期間124,046,666(39,189,912)(75,003,921)(46,335,965)收益(虧損)每股基本收益(虧損)每份額0.65(0.35)(0.47)(0.41)稀釋收益(虧損)每股份0.60(0.35)(0.47)(0.41)
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
合併財務狀況表
As at September 30, 2021 and December 31, 2020
截至2021年9月30日和2020年12月31日
(Unaudited, in US dollars)
(未經審計，美元)
September 30, December 31,
2021 2020
$ $
ASSETS
Current
Cash 317,846,724 --
Inventories 89,801,661 38,073,303
Accounts receivable 29,797,304 18,505,072
Prepaid expenses 6,415,737 1,078,148
Current assets 443,861,426 57,656,523
Non-current
Property, plant and equipment 13,594,841 5,446,807
Right-of-use assets 10,480,072 7,498,724
Intangible assets 68,985,267 42,090,843
Contract asset 14,043,628 14,327,709
Non-current assets 107,103,808 69,364,083
Total assets 550,965,234 127,020,606
LIABILITIES
Current
Bank indebtedness and other indebtedness 10,512,351 28,733,983
Trade and other payables 41,547,007 12,404,614
Current portion of share-based
compensation liability -- 35,573,558
Current portion of long-term debt 2,699,301 26,699,276
Current portion of lease liabilities 2,372,034 1,814,635
Current liabilities 57,130,693 105,226,066
Non-current
Share-based compensation liability -- 35,126,025
Long-term debt 67,441 118,539
Convertible debt instruments -- 18,866,890
Lease liabilities 8,485,890 5,904,473
Share warrant obligations 152,461,774 31,549,033
Common shares, retractable -- 25,855,509
Non-current liabilities 161,015,105 117,420,469
Total liabilities 218,145,798 222,646,535
SHAREHOLDERS' EQUITY (DEFICIENCY)
Share capital 411,691,748 32,562,541
Conversion options on convertible debt
instruments,net of tax -- 1,472,520
Contributed surplus 125,792,599 --
Deficit (198,021,437) (126,430,406)
Cumulative translation adjustment (6,643,474) (3,230,584)
Total shareholders' equity (deficiency) 332,819,436 (95,625,929)
Total shareholders' equity (deficiency)
and liabilities 550,965,234 127,020,606
九月三十日，十二月三十一日， 2021 2020 $ $ 資產當前現金317,846,724--存貨89,801,661 38,073,303應收賬款29,797,304 18,505,072預付費用6,415,737,078,148流動資產443,861,426 57,656,523非電流房地產、廠房和設備13,594,841 5,446,807使用權資產10,480,072 7,498,724無形資產68,985,267 42,090,843合同資產14,043,628 14,327,709非流動資產107,103,808 69,364,083總資產550,965,234 127,020,606負債當前銀行負債及其他負債10,512,351 28,733,983貿易及其他應付款項41,547,007 12,404,614基於股份的當前部分賠償責任--35,573,558長期債務的當期部分2,699,301 26,699,276租賃負債的當前部分2,372,034 1,814,635流動負債57,130,693 105,226,066非電流基於股份的賠償責任--35,126,025長期債務67,441 118,539可轉換債務工具--18,866,890租賃負債8,485,890 5,904,473認股權證義務152,461,774 31,549,033普通股，可收回--25,855,509股非流動負債161,015,105 117,420,469總負債218,145,798 222,646,535股東權益(不足)股本411,691,748 32,562,541可轉換債券的轉換期權儀表税後淨額--1,472,520繳款盈餘125,792,599赤字(198,021,437)(126,430,406)累計翻譯調整數(6,643,474)(3,230,584)股東權益總額(不足)332,819,436(95,625,929)股東權益合計(不足)負債550,965,234 127,020,606
CONSOLIDATED STATEMENTS OF CASH FLOWS
合併現金流量表
For the three and nine months ended September 30, 2021 and 2020
截至2021年9月30日和2020年9月30日的三個月和九個月
譯文內容由第三人軟體翻譯。