Aston Martin Lagonda Global Holdings PLC

AML

Equity

ISIN GB00BN7CG237 / Valor 58426745

LSE London Stock Exchange, SETS (2024-09-17)

GBP 1.60-0.68%

Aston Martin Lagonda Global Holdings PLC
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About company

Aston Martin Lagonda Global Holdings PLC, headquartered in Gaydon, England, is a prestigious manufacturer of luxury and sports cars, with a rich heritage dating back to the early 20th century. The company, which is listed on the London Stock Exchange, operates globally, exporting vehicles to 55 countries. Its product lineup includes the renowned sports cars manufactured in Gaydon and the luxury DBX SUV range produced in St Athan, Wales. Aston Martin, founded in 1913, and Lagonda, established in 1899, were unified under the leadership of Sir David Brown in 1947. The brand is celebrated for its blend of style, luxury, performance, and exclusivity, crafting vehicles that incorporate advanced technology with traditional craftsmanship. Among its critically acclaimed models are the Vantage, DB11, DBS, and DBX, alongside its first hypercar, the Aston Martin Valkyrie. The company's operations and governance are overseen by the Corporate Officer team, ensuring the brand's legacy of excellence continues to thrive in the global automotive industry.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Decline

In Q2 2024, Aston Martin Lagonda Global Holdings PLC reported a revenue of £335.3 million, reflecting a 12% decrease compared to £381.5 million in Q2 2023. This decline is attributed to the planned transition of their core portfolio, which is expected to ramp up significantly in the second half of the year.

Gross Profit and Margin

Despite the decrease in revenue, Aston Martin Lagonda Global Holdings PLC's gross profit for Q2 2024 remained relatively stable at £133.2 million, a slight decrease from £134.4 million in Q2 2023. However, the gross margin improved significantly to 39.7% from 35.2% in the same period last year, driven by increased volumes of Specials and personalization options.

Adjusted EBITDA

Adjusted EBITDA for Q2 2024 was £42.3 million, down 16% from £50.4 million in Q2 2023. This decrease reflects the lower core volumes during the portfolio transition period, partially offset by strong delivery of Specials. The company remains optimistic about a significant ramp-up in the second half of the year.

Net Debt

As of 30 June 2024, Aston Martin Lagonda Global Holdings PLC's net debt stood at £1,194 million, a 41% increase from £846.2 million on 30 June 2023. This increase is due to higher gross debt following refinancing in Q1 2024 and a lower cash balance.

Outlook and Guidance

Aston Martin Lagonda Global Holdings PLC reiterated its 2024 guidance, including expectations for positive free cash flow in the second half of the year. The company anticipates significant growth in wholesale volumes and profitability, driven by the launch of new models and continued strong demand for their high-performance and ultra-luxury vehicles.

Summarized from source with an LLMView Source

Key figures

-50.8%1Y

-77.3%3Y

-88.1%5Y

Performance

46.0%1Y

67.5%3Y

86.9%5Y

Volatility