Jan 16 (Reuters) - Polestar Automotive Holding Uk Plc
:
* POLESTAR Q3 REVENUE $550.7 MILLION; Q3 ADJUSTED EBITDA $-180.5 MILLION
* POLESTAR: SEES MID-TEENS PERCENT FALL IN 2024 REVENUE & NEGATIVE GROSS MARGIN SAME AS 2023 LEVELS
* POLESTAR: SEES POSITIVE FREE CASH FLOW AFTER INVESTMENTS IN 2027
* POLESTAR: SEES 2025 - 2027 COMPOUND ANNUAL RETAIL SALES VOLUME GROWTH 30-35% & POSITIVE ADJUSTED EBITDA IN 2025
* POLESTAR: CONTINUES TO WORK WITH GEELY ON SECURING NEW EQUITY & DEBT FUNDING
* POLESTAR: CLUB-LOAN LENDERS TO AMEND REVENUE COVENANT FOR 2024 & WAIVE TESTING OF 2024 END & Q1 2025 DEBT RATIO COVENANT
* POLESTAR: SECURED OVER $800 MILLION IN LOAN FACILITIES IN DEC, WORKING ON SECURING ADDITIONAL FACILITY OF OVER $400 MILLION
* POLESTAR: TO RESTATE FY 2022, 2023, AND HY 2023, HY 2024 FINANCIAL STATEMENTS DUE TO UNDERREPORTING OF ASSETS & ACCRUED LIABILITIES
* POLESTAR: POLESTAR 5 LAUNCH IN 2025; POLESTAR 7 TO BE PRODUCED IN EUROPE
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