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Aston Martin Lagonda Q1 Loss Narrows, Volume Surges; Maintains Outlook; Stock Up

Luxury car brand Aston Martin Lagonda Global Holdings plc (AML.L) reported Thursday that its first-quarter loss before tax was 42.2 million pounds, narrower than last year's loss of 110.1 million pounds.

Adjusted EBITDA was 20.7 million pounds, compared to last year's loss of 38.1 million pounds.

Revenue increased 153 percent to 224 million pounds from prior year's 88.8 million pounds, principally due to wholesale growth and stronger pricing dynamics as dealer GT/Sport stock reduced as planned.

Total wholesale volumes surged 134 percent to 1,353 units from last year's 578 units.

Looking ahead, the company said its expectations and guidance for 2021, remain unchanged with first-quarter trading in-line with expectations and good forward visibility for both GT/Sport and DBX.

For the year, the company plans adjusted EBITDA margin in mid-teens, and Wholesales of about 6,000 units.

Adjusted EBITDA is expected to be heavily weighted to the second half and particularly Q4 given the timing of Specials.

By 2024/25, the company projects around 10,000 wholesales, around 2 billion pounds revenue and about 500 million pounds of adjusted EBITDA.

In London, Aston Martin shares were trading at 1,932.50 pence, up 1.68 percent.

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