New Vantage helped Aston promote 1343 extra items than in 2017However whereas gross sales progress was robust, £68m pre-tax losses introduced immediately have hit its share value onerous
Aston Martin gross sales rose by 1 / 4 in 2018, regardless of difficult market situations affecting the broader automotive market.
As a luxurious automotive model, the Gaydon-based automotive maker is at the very least, partly, protected by its high-end place available in the market with comparable manufacturers comparable to McLaren and Ferrari additionally seeing progress in 2018. Aston Martin additionally launched a plethora of latest merchandise final 12 months, serving to it to fight broader automotive gross sales tendencies.
It bought 6441 items in 2018, up from 5098 the earlier 12 months, aided by the introduction of the brand new Vantage, DBS Superleggera and particular editions of the Vanquish Zagato Capturing Brake, Vanquish Zagato Speedster and DB4 GT Continuation.
Development was led by China and the Americas, up by 31% and 38% respectively. UK gross sales grew by 17%.
Income rose by 25% to £1.096bn 12 months on 12 months and earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) elevated by 20% to £247.3m.
Nonetheless, it additionally revealed pre-tax losses of £68m, largely right down to £136m in prices for its inventory market flotation in October. Funding in its new manufacturing facility in St Athan, Wales plus growth prices for brand new fashions additionally thwarted earnings.
In consequence its share costs fell greater than 15%, dropping by £500m in early buying and selling, persevering with a downward development because it floated. The agency went public with a £four.3bn valuation however is now value round £2.6bn.
Aston Martin boss Andy Palmer mentioned: “2018 was an impressive 12 months for Aston Martin Lagonda, delivering robust progress, with bettering revenues, unit gross sales and adjusted earnings. Because the UK’s solely listed luxurious automotive group, we now have demonstrated our legitimacy within the international luxurious market.
“Our well-defined growth plans, that mix excellent high-performance automobiles with iconic model standing, are on observe as we handle by the uncertainties and disruption impacting the broader auto business.”
Palmer added that it was assured of “one other 12 months of progress”.
He mentioned: “While we’re aware of the unsure and more difficult exterior setting, notably within the UK and Europe, we stay disciplined in our execution… while additionally reconfirming our medium-term goals.”
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