On February 3 local time, Ford Motor Company announced its fourth quarter report and full year financial report of 2021. Despite the continuous interruption of the supply chain, the overall performance of the company is still stable.
According to the financial report data, the annual operating revenue of Ford Motor in 2021 was 136.341 billion US dollars, up 7.23% year-on-year; Net income reached US $17.9 billion, a year-on-year increase of 1502.42%; Adjusted EBIT was $10 billion. The adjusted EBIT is just within the guidance range of $9.6 billion to $10.6 billion issued by Ford on October 27 last year.
Among them, Ford's fourth quarter revenue reached US $37.7 billion, net income was US $12.3 billion, and adjusted EBIT was US $2 billion, both higher than the same period in 2020. As of the fourth quarter, Ford had more than $36 billion in cash and $52 billion in working capital.
In the North American market, Ford's EBIT margin was 7.1% in the fourth quarter and 8.4% in 2021; In China's auto market, Ford China delivered 624802 cars in 2021, a year-on-year increase of 3.7%.
It is noteworthy that after rivian's initial public offering on November 10 last year, Ford reclassified the investment income of rivian in the first quarter of 2021 as a special project. By the end of 2021, the investment income had reached US $10.6 billion.
Statistics show that rivian, regarded as the "second Tesla" by investors, raised $13.7 billion in his IPO last November, becoming the largest IPO of US stocks since 2014. On the first day of listing on November 10 last year, rivian's share price rose by more than 50% and nearly 30% at the close. Less than a week after listing, rivian's share price rose by more than 100% and its total market value once reached US $146.7 billion, surpassing Volkswagen in one fell swoop.
Although rivian's share price has fallen, the industry is still full of confidence in its development based on the irreversible trend of electrification and intelligence in the world. According to the prospectus, before rivian's IPO, Amazon held 20.2% and Ford held 13%.
"Strong financial performance is an important cornerstone of enterprise development." Jim Farley, President and CEO of Ford Motor Company, said, "We are also very proud to see that Ford is becoming the mainstream brand that electric vehicle consumers choose to buy. Mustang mach-e, F-150 lightning and E-transit have accumulated orders and reservations of more than 275000 vehicles. We are breaking through the limit and delivering these vehicles to every customer as soon as possible."
It is noteworthy that Ford became the second largest electric vehicle manufacturer in the United States in 2021. Jim Farley said that this is the company's "important first step towards becoming a real leader in electric vehicles". Earlier, he said that the company plans to double the annual production capacity of global pure electric vehicles to at least 600000 by 2023. By 2030, the sales of pure electric vehicles will account for more than 40% of the company's total sales.
Looking ahead, Ford will further increase its investment in electrification. By the end of 2025, it will invest more than $30 billion in the R & D and production of pure electric vehicles and batteries.
With the hot sales of Mustang mach-e and F-150 lightning and the phased success of Ford's transformation, Ford city deserves to be improved.
On January 13 local time, the market value of Ford exceeded $100 billion for the first time, and its share price rose by more than 5% in early trading, a 52 week high.
For 2022, John Lawler, chief financial officer of Ford Motor Company, predicted that Ford's adjusted EBIT would be between us $11.5 billion and US $12.5 billion, with a year-on-year increase of 15% - 25%. The high end of the adjusted EBIT range will achieve a profit margin of 8%, and the company will complete the goal set by the company one year ahead of the original plan.
In addition, the adjusted free cash flow in 2022 is expected to be between $5.5 billion and $6.5 billion.
