Sono Group N.v. · NASDAQ:SSM
Sono — Investor Presentation (January 2023)
40 slides from Sono's investor presentation, January 2023
Slide 1: Solar on Every Vehicle
SOLAR ON EVERY VEHICLE SONO MOTORS – JANUARY 2023 Company Presentation
Slide 2: Disclaimer
DISCLAIMER 2 IMPORTANT NOTICE This presentation (and oral statements regarding the subjects of this presentation) includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward looking statements include any statements reflec
Slide 3: A World Without Fossil Fuels
3 OUR VISION A WORLD WITHOUT FOSSIL FUELS Key Investment Highlights
Slide 4: Management Board and Supervisory Board
MANAGEMENT BOARD LAURIN HAHN JONA CHRISTIANS TORSTEN KIEDEL THOMAS HAUSCH MARKUS VOLMER Co-CEO & Co-Founder CO-CEO & Co-Founder CFO COO CTO SUPERVISORY BOARD MARTINA BUCHHAUSER ROBERT JEFFE ARND SCHWIERHOLZ SEBASTIAN BÖTTGER JOHANNES TRISCHLER Chair Vice Chair Financial Expert Community Member Emplo
Slide 5: Sono Group – from a garage to a global vision
5 COMPANY OVERVIEW Sono Group – from a garage to a global vision HQ in Munich, Germany: Founded in 2016 IPO‘ed in Nov. 2021 (NASDAQ: SEV) ~418 employees as of December 1, 2022 (~300 engineers) >330 M€ raised1 and invested in our technology Solar business commercialized and generating revenues 1) Ang
Slide 6: Growth strategy underpinned by two building blocks
7 SONO’S BUSINESS CASE Growth strategy underpinned by two building blocks SONO SOLAR: SOLAR INTEGRATION AND RETROFIT SONO SION: SOLAR ELECTRIC VEHICLE FAMILY CAR Sion ~21,0002 B2C RESERVATIONS >22,5003 B2B PRE-ORDERS CAPITAL LIGHT AND COMMERCIALIZED TODAY1 >43,500 IN TOTAL Source: Company informatio
Slide 7: Sono Solar: Solar Technology & Licensing
88 SONO SOLAR Solar Technology & Licensing
Slide 8: Two trends make solar integration possible now
9 MARKET OPPORTUNITY Two trends make solar integration possible now PV MODULE PRICE ($/W) DECREASING PV MODULE EFFICIENCY INCREASING mono-Si 2 21% 20.30% 1.8 1.6 ~90% reduction 20% SOLAR IS NOW 1.4 since 2010 19% ONE OF THE 1.2 1 18% CHEAPEST 0.8 17% ELECTRICITY 0.6 16% SOURCES 0.4 0.15 15% IEA, 202
Slide 9: Technology edge over competitors
10 SOLAR COMPETITIVE EDGE Technology edge over competitors GLASS SOLAR POLYMER SOLAR Other OEMs WEIGHT Heavier Lighter PRODUCTION Slower & Complex Faster & Lean PRICE Expensive Affordable 34 PATENTS granted or filed1 1) In total (including same patents filed in different jurisdictions), 4 patents gr
Slide 10: Our core technology is a patented solar assembly process
11 SEAMLESS SYSTEM INTEGRATION Our core technology is a patented solar assembly process SONO MOTORS’ BASE PRODUCT INJECTION MOLDING FINAL PRODUCT Special pre-assembly of the solar Adapted injection molding process to Seamless integration of solar cells cells to protect them from high- allow solar in
Slide 11: Vertically integrated solar technology
12 SEAMLESS SYSTEM INTEGRATION Vertically integrated solar technology BASE PRODUCT SOLAR BODY PANEL POWER ELECTRONICS SOFTWARE Specialized solar electronics Ensuring high automotive Live energy data and Preassembly of cells providing CAN1 standard and functionality optimization of energy yields comm
Slide 12: Our proprietary technology – relevant for a large variety of vehicles
13 VARIETY OF USE CASES Our proprietary technology – relevant for a large variety of vehicles PATENTED BASE PRODUCT REACTIVE INJECTION SOLAR SOLAR SEMI-TRANSLUCENT MOLDING PV SANDWICH PANEL ON METAL SOLAR WINDOWS for large body panels of e-buses, for cargo boxes of for large 3D shaped panels of for
Slide 13: Business model: Solar revenue based on two pillars
14 SONO SOLAR Business model: Solar revenue based on two pillars RETROFIT “SOLAR BUS KIT” SERIES INTEGRATION IN SERVICE AND ON THE ROAD TODAY BEING TESTED BY MULTIPLE PARTNERS Source: Company information.
Slide 14: Solar Bus Kit: scalable solar retrofit for diesel busses
15 SONO SOLAR BUS KIT Solar Bus Kit: scalable solar retrofit for diesel busses • Product successfully launched and generating revenue • Potential payback time of ~3-4 years, and savings of up to 1,500 liters of diesel1 • LOI in place through which we expect to outsource installation, servicing and l
Slide 15: Premiered four customer projects at IAA Transportation
16 SONO SOLAR Premiered four customer projects at IAA Transportation • IAA Transportation is one of the • In September 2022 Sono premiered • Sono presented complete range of world‘s largest exhibitions for four customer projects at the technology and solutions for its commercial vehicles exhibition
Slide 16: Entered several new markets with diverse customers
17 SOLAR CUSTOMER TRACTION Entered several new markets with diverse customers Multiple products delivered 23 Customers2 10 Customers1 IPO November 2021 Today3 1) 9 non-binding LOIs and 3 purchase orders. 2) 12 non-binding LOIs and 16 purchase orders / contracts signed and/or products delivered. 3) A
Slide 17: Purchase order signed with one of the world's largest car manufacturers
18 SONO SOLAR Purchase order signed with one of the world’s largest car manufacturers • One of the world’s top global passenger car OEMs1 signed a purchase order with Sono Motors • Scope of the order: delivery of solar body panels • Together with Sono Motors, the OEM wants to explore solar integrati
Slide 18: Why other car manufacturers should license our technology
19 SOLAR TECHNOLOGY Why other car manufacturers should license our technology MAKE LICENSE (Insource 100%) (from Sono) Re-engineering Developed effort technology Time to market VS Ready for large scale production Patent Patent usage infringements
Slide 19: From retrofitting to fully integrated licensing revenues
20 KEY STEPS From retrofitting to fully integrated licensing revenues Start Launch Solar Refrigerated Autonomous Non Sono Business Unit Bus Kit Vehicles E-Vans E-Buses RVs shuttles E-Trucks BEVs (cars) 2021 2022 2023 2024 2025 2026 Prototypes Solar Kit for buses Prototypes & test fleets Co-developme
Slide 20: The Sion: Our First Solar Electric Vehicle
21 THE SION Our First Solar Electric Vehicle
Slide 21: Solar is the next wave in e-mobility
22 SOLAR ELECTRIC VEHICLES Solar is the next wave in e-mobility THE PAST THE PRESENT THE FUTURE
Slide 22: The Sion — German engineering, practical design
23 SONO – THE SEV BRAND The Sion — German engineering, practical design Family-sized SEV for ~21,0003 B2C reservations €25,126 ($25,1361) net. >22,5004 B2B pre-orders 5,800 km on solar per year2 417 km (250 mi) = 305 km + 112 km (60 mi) total range enabled by solar technology2 Integrated sharing Bid
Slide 23: Why solar? The average commuter has 4x more range
24 SOLAR ADVANTAGE EXPLAINED Why solar? The average commuter has 4x more range 300 Range in mi 200 100 0 300 Range in mi 200 100 0 Week Week Week Week Week Week Week Week 1 2 3 4 5 6 7 8 The average daily distance driven with a car is 16 km in German metropolitan areas 1. The Sion needs only 1 charg
Slide 24: Sono's capital efficient business model makes the Sion affordable
ASSET LIGHT 25 Sono’s capital efficient business model makes the Sion affordable TRADITIONAL OEM PURE EV OEM SONO MOTORS Combustion Engine Traditional Marketing Metal Stamping Metal Stamping Paint Shop Paint Shop Several Variants per Car Several Variants per Car Brick and Mortar Dealerships Brick an
Slide 25: Asset light — world class contract manufacturing strategy
26 ENGINEERED IN GERMANY, BUILT IN FINLAND Asset light — world class contract manufacturing strategy Valmet Automotive in Uusikaupunki, Finland
Slide 26: Trusted partner in Bosch Automotive for service and repair
27 THE SION Trusted partner in Bosch Automotive for service and repair • Long-term agreement signed for servicing and repairing the Sion • Completes Sono Motors’ three-pronged approach to allow self-repair, empower independent workshops and create a Europe-wide dedicated partner network • In the Sio
Slide 27: Financial Update
28 SONO MOTORS Financial Update
Slide 28: Milestones: 6+ years of successful development
29 MILESTONES 6+ years of successful development 2016 2017 2018/19 2020 2021 2022 TODAY 2023 2024 Series Solar Business Start Solar Bus Refrigerated Contract Solar Bus Kit Vehicles E-Vans signed Kits Car Business Gen 0 Gen I Gen II Series-Validation Pre-Series SOP2 Vehicles Vehicles & (Gen III) (Gen
Slide 29: >€1 billion of potential backlog revenues, >40% with down payment
30 SION REVENUE BACKLOG >€1 billion of potential backlog revenues, >40% with down payment B2C1 B2B2 B2B3 TOTAL ~21,000 12,600 >10,000 >43,500 € 251m3 € 317m2 >€ 1,000m € 463m1 1) Based on the net price of €21.4k per vehicle underlying the first 16,000 reservations, a net price of €23.9k for all rese
Slide 30: Sustainability
31 SONO MOTORS Sustainability
Slide 31: Sustainability principles guide us since the very beginning
32 SUSTAINABILITY AT THE ROOTS Sustainability principles guide us since the very beginning. “The company’s decisive criterion is the protection and conservation of the environment, of nature and of the human being. All products, services, actions and investments have to be based on this principle.”
Slide 32: We track environmental, social and governance indicators
33 STATUS QUO OF A SELECTION OF KEY METRICS We track environmental, social and governance indicators. ENVIRONMENTAL SOCIAL GOVERNANCE Scope 1-3 carbon emissions Gender equality and diversity Data security Energy usage Team growth and turnover Board independence Water usage Fair compensation Anti-cor
Slide 33: Our sustainability report aligned with international guidelines
34 REPORTING Our sustainability report aligned with international guidelines. Our yearly published report follows the GRI (Global Reporting Initiative) standard. It is an independent, international organization that established the world’s most widely used standards for sustainability reporting. .
Slide 34: Questions & Answers
QUESTION NSWERS
Slide 35: Investor Relations
36 ADDITIONAL INFORMATION Investor Relations STOCK OUR TEAM IS LOOKING FORWARD TO MEETING YOU! Type of shares Bearer shares Stock exchange Nasdaq, US Ticker SEV Dmitry Lisitsyn Konstantin Nobbe Kirill Bagachenko Director Manager Finance Director WKN A3C7QW Corporate Finance Investor Relations ISIN N
Slide 36: Sono Group N.V. contact details
SONO GROUP N.V. Waldmeisterstrasse 76 80935 Munich | Germany T +49 (0)89 45 205 818 E [email protected] W sonomotors.com Netherlands Chamber of Commerce (Kamer van Koophandel) CCI 80683568 Managing Directors: Laurin Hahn, Jona Christians, Torsten Kiedel, Thomas Hausch, Markus Volmer © Sono Mo
Slide 37: Appendix
38 Appendix
Slide 38: Balance Sheet
39 Q3 2022 FINANCIALS Balance Sheet €k Q3 2022 FY 2021 €k Q3 2022 FY 2021 ASSETS EQUITY AND LIABILITIES Intangible assets 189 206 Subscribed capital 9,592 8,735 Capital reserve 270,719 221,785 Property, plant and equipment 42,490 1,484 Accumulated deficit (251,550) (147,081) Right-of-use assets 3,62
Slide 39: Income Statement
40 Q3 2022 FINANCIALS Income Statement YTD Q3 YTD Q3 YTD Q3 YTD Q3 €k Q3 2022 Q3 2021 €k Q3 2022 Q3 2021 2022 2021 2022 2021 Revenue 138 - 180 - Tax on income and earnings - (18) - (60) Cost of sales (143) - (285) - Income (loss) after tax (43,517) (18,038) (104,470) (42,479) Gross income (loss) (5)
Slide 40: Cash Flow Statement
41 Q3 2022 FINANCIALS Cash Flow Statement €k YTD Q3 2022 YTD Q3 2021 €k YTD Q3 2022 YTD Q3 2021 Income (loss) after tax (104,470) (42,479) Purchase of intangible assets (36) (102) Depreciation of property, plant and 198 79 Purchase of property, plant and equipment (39,867) (1,203) equipment Deprecia