Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Aston Martin off track on sales targets but retain investor confidence

by February 28, 2024
February 28, 2024
Aston Martin off track on sales targets but retain investor confidence

Aston Martin Lagonda fell short of its revised production targets for 2023, facing delays in the launch of the £185,000 DB12 sports car, resulting in 6,620 deliveries to dealers, below the revised goal of 6,700.

Despite this setback, the company reported an 18% increase in revenues to £1.6 billion, buoyed by the sale of limited edition supercars, with average selling prices reaching £255,000 in the last months of the year.

Underlying operating profits, excluding interest costs, tax, and depreciation, surged by 61% year-on-year to £305 million. Lawrence Stroll, the executive chairman, affirmed the company’s commitment to achieving its long-promised financial targets for 2024, expecting substantial growth in the second half of the year.

Although Stroll has revised predictions for car production downwards, he reiterated the target of reaching £500 million in EBITDA profits on £2 billion in annual sales by 2024-25. While margins for the current year are expected to be in “the low 20s per cent,” the company anticipates high single-digit percentage volume growth.

Despite reporting a bottom-line loss of £239 million, alongside rising net debt to £814 million, Stroll remains optimistic about the demand for ultra-luxury vehicles, emphasizing strong demand for Aston Martin’s high-performance products and personalized offerings.

Shares in Aston Martin rose by 5% in early trading following the announcement, signaling some confidence from investors despite the challenges faced by the company in meeting its targets.

Read more:
Aston Martin off track on sales targets but retain investor confidence

0
FacebookTwitterGoogle +Pinterest
previous post
Thames Water told by regulator to find extra cash itself
next post
Christian Horner set to be cleared of allegations of inappropriate behaviour

You may also like

Pound falls again as Bank of England rules...

September 26, 2022

US-China trade war risks wiping £8.5bn from UK...

November 15, 2024

The role of technology in modern commercial real...

May 17, 2023

Google’s Proposal for AI Systems and Publisher Opt-Out:...

August 9, 2023

In-Depth Q&A with Ernesto Morales, CEO of North...

August 9, 2024

Investors Withdraw $10 Billion from ‘Ethical’ Funds Amid...

February 16, 2024

Hybrid working demand sends IWG revenues to record...

March 6, 2024

Has Hunt done enough to stave off another...

October 15, 2022

Guide to safe and ethical use of facial...

April 11, 2024

Overseas buyers line up to hear pitches from...

April 28, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved