Arrival Q2 Loss Widens On Higher Expenses

by Shivani Kumaresan, Benzinga Staff Writer

August 12, 2021 8:56 AM | 1 min read |

Arrival SA ARVL reported a second-quarter FY21 net loss that widened to €(38.6) million.
The operating loss increased Y/Y to €(41.6) million.
The company held €445 million in cash and equivalents as of June 30, 2021.
Adjusted EBITDA loss was €(35) million, versus €(12) million last year. EBITDA loss widened to €(29) million.
Administrative expenses were €35 million, and not capitalised R&D expenses were €6 million.
"We are delighted to have announced our current non-binding Orders and LOIs total 59k vehicles with the most recent addition in India for our Bus platform," said CEO Denis Sverdlov.
Price Action: ARVL shares are trading lower by 0.78% at $12.70 in premarket on the last check Thursday.

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