Aston Martin Lagonda Global Holdings Plc (AML.L), a British luxury car maker, on Wednesday reported a narrower pre-tax loss of the nine-month period to September 30, supported by an improvement in revenue, driven by a strong demand, and a positive year-on-year impact from the revaluation of dollar-denominated debt.<\/p>\n
For the nine-month period, the automaker posted a pre-tax loss of 259.8 million pounds, compared with a loss of 511.3 million pounds, recorded for the same period last year. <\/p>\n
Excluding items, pre-tax loss moved down to 221.3 million pounds from previous year’s loss of 510.1 million pounds.<\/p>\n
After tax, loss stood at 260 million pounds as against last year’s loss of 518 million pounds. <\/p>\n
Operating loss was at 145.3 million pounds, compared with a loss of 148.4 million pounds in 2022. <\/p>\n
Adjusted operating loss increased to 135.1 million pounds from a loss of 128.2 million pounds a year ago. <\/p>\n
Excluding items, EBITDA surged to 131.1 million pounds from 79.8 million pounds in 2022.<\/p>\n
Adjusted EBITDA margin was at 12.6 percent, higher than 9.3 percent a year ago. <\/p>\n
Total wholesale volumes improved to 4398 from 4060 of previous year period. <\/p>\n
Revenue was 1.039 billion pounds, up from 857.2 million pounds in 2022.<\/p>\n
Looking ahead, for full year 2023, the company continues to expect to register adjusted EBITDA margin of up to around 20 percent.<\/p>\n
For full year, the vehicle maker now expects year-on-year wholesales growth of around 6,700 units, lesser than its previous expectation of around 7000 units. <\/p>\n
Further, the car maker said that it is on track to achieve its financial targets of around 2 billion revenue and 500 million pounds adjusted EBITDA by 2024-25. The company expects to substantially achieve these financial targets in 2024. <\/p>\n