H1 2023 Results

Six months ended 30 June 2023

Amedeo Felisa

C H I E F E X E C U T I V E O F F I C E R

Agenda

  1. H1 2023 highlights
  2. Financial review Appendix

H1 2023 Highlights

Accelerating the pace of execution; new 2027/28 financial targets focused on growth through value

  • Q2 performance ahead of expectations; FY 2023 guidance maintained
    • New DB12 Coupe sold out for 2023 following launch at the end of May; GT/Sports sold out for 2023 ahead of new launches; DBX order book into Q4
    • H1 revenue growth of 25%, driven by strong DBX volume and ASP growth
    • Gross profit increased by 26% YoY with a gross margin of 35%
    • Adj. EBITDA increased 38% YoY to £81m or a margin of 12%, representing YoY margin expansion of c. 110bps
    • Free cash1 outflow of £218m; cash balance of £400m; net debt reduced by one-third YoY to £846m
    • On track to substantially achieve 2024/25 financial targets in 2024
  • Accelerating the pace of execution; transformation of our sports car line-up
    • New senior appointments in procurement, manufacturing & engineering
    • Opened first ultra-luxury flagship store in New York City
    • New DB12 Coupe deliveries commencing in Q3 2023
    • Initial DBS770 Ultimate deliveries commenced in Q2, ramping up in Q3 (all 499 units sold); Deliveries of Aston Martin Valkyrie Spider, DBR22 and Valour to commence in H2
    • Unprecedented demand for Valour, all 110 units sold within 2 weeks, with a growing waiting list
  • Landmark agreement with Lucid to supply EV technology
    • Moving forward in our ambition to create the world's most thrilling and highly desirable electric performance cars
    • Supports our target to launch our first BEV in 2025
    • Development of a single, bespoke Aston Martin flexible BEV platform
    • Mercedes-Benzremain strategic partner for ICE and PHEV technologies; Long-term partnership with Geely
  • New financial targets for 2027/28 announced at Capital Markets Day
    • Revenue of c.£2.5bn; gross margin in the mid 40s%; adj. EBITDA of c.£800m; adj. EBITDA margin of c.30%
    • Free cash flow to be sustainably positive; net leverage of c.1.0x

4 Certain financial data within this presentation has been rounded; See Appendix for more detail on APMs; (1) Operating cashflow less investing activities (excl. interest) and net cash interest; cash interest payments are in Q2 and Q4

110th Anniversary

Marking this historic occasion with a series of events, including a reception at the Houses of Parliament in London and a celebration lap of the Silverstone circuit featuring 110 Aston Martin cars, past and present

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Aston Martin Lagonda Global Holdings plc published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 06:14:26 UTC.