Aston Martin Lagunda pledged to transfer a profit by 2025 – at least before paying interest on her enlarged debt – with Adrian Halmark, her new CEO, and promised a new era of operational discipline and financial accountability after a period of losses and leadership.
Halmark, 62, who joined the Gedon -based manufacturer last September after a long time in Bentley Motors in Crowe, said that his focus would be on reforming the defects in production, reducing costs, and ensuring the launch of the new models of the company.
“We are determined to provide operational excellence,” said Halmark. “We expect to see a physical improvement in financial performance.”
The payment for low costs includes a 5 % reduction in the workforce worth 3400 people, as it reduced 170 roles by an average annual salary of about 150,000 pounds, as it achieved about 25 million pounds. Investors have shown renewed optimism in recent weeks, which prompted the share price of about five. However, Jitters returned on Wednesday, as the shares lost all these gains and climbed more than 10 percent in the morning trade – which increases its 830 million pounds, which is much lower than the 2018 number of Al -Awaid of 4.3 billion pounds.
The results of Halmark are the first in the entire year that a company is still suffering from deep losses. The fourth quarter sales of 2,391 sports cars were 8 percent higher, but the focus on selling more low-price models-more discounts-revenues decreased by 1 percent to 589 million pounds, which reduced the total profit margin from 45 percent to 35 percent.
Operating profits of 33 million pounds were obliterated by 93 million pounds in interest payments on Aston Martin debts of 1.16 billion pounds, an increase of 814 million pounds. This led to a loss in the fourth quarter before the tax of 60 million pounds, compared to a profit worth 20 million pounds in the same period in the previous year. Pre -tax losses throughout the entire year increased by 21 percent to 289 million pounds, with business slide to red at the operating level by 99 million pounds.
According to former CEO Lawrence Strol, Aston Martin was once aimed to produce 10,000 vehicles annually by 2025. The ambition has been canceled since then, although the company still retains a final goal of 2.5 billion pounds in the annual revenue-which has now been postponed to 2027-28-with hopes of achieving 400 million pounds before profit before paying And tax.
Halmark admitted that the work had suffered from poor quality control and logistical lines, as cars often roll from the line by only 65 percent “for the first time” when they took responsibility. This number has improved to 90 percent, and Holmark aims to reach 95 percent of this year later this year. “Our ambition has relied on everything perfect,” he pointed out. “Not.”
Since the Stroll rescued in 2020, Aston Martin has been forced to make multiple urgent cash calls, or to raise or restructure the capital about 4 billion pounds with an increase in cumulative losses exceeding 1.6 billion pounds. However, Halmark insists that the year 2025 will show a basic turning point, as profits are at the level of operation and positive cash flow in the second half of the year.
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