Aston Martin Lagonda 9-month Pre-tax Loss Narrows, Revenue Climbs

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.

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.

Excluding items, pre-tax loss moved down to 221.3 million pounds from previous year’s loss of 510.1 million pounds.

After tax, loss stood at 260 million pounds as against last year’s loss of 518 million pounds.

Operating loss was at 145.3 million pounds, compared with a loss of 148.4 million pounds in 2022.

Adjusted operating loss increased to 135.1 million pounds from a loss of 128.2 million pounds a year ago.

Excluding items, EBITDA surged to 131.1 million pounds from 79.8 million pounds in 2022.

Adjusted EBITDA margin was at 12.6 percent, higher than 9.3 percent a year ago.

Total wholesale volumes improved to 4398 from 4060 of previous year period.

Revenue was 1.039 billion pounds, up from 857.2 million pounds in 2022.

Looking ahead, for full year 2023, the company continues to expect to register adjusted EBITDA margin of up to around 20 percent.

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.

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.

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