【Pacific Auto Network Industry Channel】
Ford expects adjusted EBITDA to be between $11.5 billion and $12.5 billion in 2022, up 15% to 25% year-over-year.
By 2023, Ford's global production capacity of pure electric vehicles will reach at least 600,000.
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Recently, Ford Motor Company announced its full-year 2021 financial report. Despite the impact of continued disruptions in the supply chain, the company's overall performance remained solid. 2021 is the year that Ford+ plans to advance at a high speed around the world, and Ford has achieved both business and stock price growth.
Ford motor's full-year 2021 net income of $17.9 billion and adjusted EBITDA of $10 billion increased year-over-year. Among them, the company's fourth-quarter revenue reached $37.7 billion, net income was $12.3 billion, and adjusted EBITDA was $2 billion, all higher than the same period in 2020.
Adjusted EBIT is within the guidance range of $9.6 billion to $10.6 billion issued by Ford Motor On October 27. Following Rivian's Nov. 10 initial public offering, Ford reclassified the proceeds from its investment in Rivian for the first quarter of 2021 as a special project.
As of the fourth quarter, Ford motor had more than $36 billion in cash and $52 billion in liquidity, all of which included income from Ford's investment in Rivian. By the end of 2021, the investment income reached $10.6 billion.
In addition, by buying back and redeeming $7.6 billion of high-cost debt, Ford Motor's balance sheet was further consolidated in the fourth quarter, while also significantly reducing ongoing interest expense costs.
In the fourth quarter, Ford Motor co., Ltd. had an EBIT margin of 7.1% in North America and an EBIT margin of 8.4% for the full year 2021. In the fourth quarter, ford bronco and Ford Maverick models, which had just won the North American SUV of the year and truck of the year, continued to be in high demand, coupled with the excellent market performance of Muskang Mach-E and Bronco Sport, which pushed Ford's market share up two percentage points to 15%, making Ford The number one automaker in the United States.
As one of the global "two pillars" market alongside Ford's North American market, Ford China delivered a total of 624,802 vehicles in 2021, an increase of 3.7% year-on-year.
In 2021, lincoln brand sales in China surpassed the U.S. market for the first time, with full-year sales up nearly 50% year-on-year. The new Lincoln Zephyr has exceeded 3,000 orders so far, and a series of brand-new products will also be launched.
In 2021, Ford China's electrification and intelligence have also entered a new stage, and the domestic Ford Mustang Mach-E officially opened for delivery in December last year. Ford has also opened and put into operation 25 ford select exclusive brand city stores for high-end smart electric vehicles, and accelerated the electrification transformation of the Ford brand through a digital experience that focuses on full-time user relationships, as well as a more convenient charging network and charging experience.
John Lawler, Chief Financial Officer of Ford Motor Company, said the company expects adjusted EBITDA to be between $11.5 billion and $12.5 billion in 2022, up 15% to 25% year-on-year, and will perform even stronger. The high end of the adjusted EBIT range will be able to achieve a profit margin of 8%, which will complete the company's target one year earlier than originally planned. Adjusted free cash flow for 2022 is expected to be between $5.5 billion and $6.5 billion.