Arrival Sees Wider Q4 Loss Hit By $406M Impairment Charges

Arrival SA ARVL said it expects a fourth-quarter FY22 loss of $(588) million - $(597) million versus a loss of $(67) million last year.
The loss includes non-cash impairment charges and write-offs of approximately $406 million.
It sees adjusted EBITDA loss of $(162) million - $(172) million versus a loss of $(85) million last year.
ARVL expects administrative expenses for the quarter to be about $133 million and non-capitalized R&D expenses of approximately $31 million.
Arrival sees capital expenditure, including tangible and intangible purchases, of $25 million versus $104 million in Q4 FY21.
In Q4, the cash balance was reduced by $126 million to $205 million. It held cash and equivalents of $205 million as of Dec. 31, 2022.
Price Action: ARVL shares are trading higher by 1.32% at $0.22 on the last check Thursday.