Aston Martin: fine performances in 2023 but challenges to be met in 2024

The famous luxury automaker posted a significant increase in sales and a significant reduction in losses, thanks to a strategy focused on customized vehicles and “record” prices. But the group’s debt continues to rise, while Aston Martin faces a delay in its electrification program, pushing back the planned launch of its first battery-electric vehicle by a year.

 

Aston Martin goes amber. On Wednesday, February 28, the British carmaker announced a significant reduction in its losses for the past year, reflecting a strategy focused on moving upmarket towards customized vehicles and “record” prices.

 

Published figures reveal an 18% increase in sales to £1.6 billion (approx. €1.87 billion), mainly driven by price increases and slightly higher volumes, notably thanks to the success of iconic models such as the DB12 launched in 2023.

 

Despite the significant improvement, the pre-tax loss was still £240 million (€280 million), after the £495 million (€578 million) of 2022. This performance exceeded market expectations, with an adjusted pre-tax loss of £171.8 million (€200.8 million), against analysts’ average estimate of £209 million (€244.3 million).

 

Despite this progress, Group debt increased by 6% to £814 million (€951.6 million).

 

Reducing debt and pursuing electrification

 

Aston Martin is staying on course with its long-term objectives. It is targeting sales of £2.5 billion (€2.92 billion) by 2027/2028, a substantial reduction in debt and a margin of around 45%, compared with 39% last year.

 



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Featured photo : © Aston Martin

Picture of Hugues Reydellet
Hugues Reydellet
Hugues Reydellet is a young and passionate journalist whose favorite subjects are economy, culture, gastronomy, but also cars, and sports. With a sharp pen and an insatiable curiosity, Hugues is constantly on the lookout for new hot information to report.

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