Editing Aston Martin Lagonda Global Holdings plc
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Key elements of Aston Martin's mission include: | Key elements of Aston Martin's mission include: | ||
# | # Exquisite Design and Craftsmanship: Aston Martin is committed to creating vehicles that showcase meticulous design, exquisite craftsmanship, and attention to detail. By blending traditional handcrafting techniques with advanced technology, Aston Martin aims to deliver cars that are not only visually stunning but also built to the highest standards of quality. | ||
# | # Unparalleled Performance: Aston Martin vehicles are renowned for their exceptional performance, offering exhilarating driving experiences. Whether on the racetrack or the open road, Aston Martin strives to engineer cars that deliver outstanding power, agility, and handling, reflecting its rich motorsport heritage and relentless pursuit of automotive excellence. | ||
# | # Timeless Elegance: Aston Martin vehicles exude timeless elegance, combining classic design cues with modern aesthetics. The brand aims to create cars that transcend trends and stand the test of time, appealing to individuals who appreciate understated luxury and sophistication. | ||
# | # Personalization and Exclusivity: Aston Martin recognizes the importance of personalization and exclusivity, offering customers the ability to tailor their vehicles to their unique preferences. By providing bespoke options and limited production models, Aston Martin seeks to create a sense of exclusivity and individuality for its discerning clientele. | ||
# | # Commitment to Innovation: Aston Martin is dedicated to pushing the boundaries of automotive technology and innovation. The brand continually invests in research and development to incorporate cutting-edge advancements, including electrification and sustainable solutions, while staying true to its core values of performance and luxury. | ||
# | # Engaging the Aston Martin Community: Aston Martin aims to foster a strong and engaged community of enthusiasts, owners, and fans worldwide. The brand actively cultivates relationships with its customers, organizing exclusive events, driving experiences, and providing exceptional customer service to create a sense of belonging and strengthen the Aston Martin community. | ||
Through its mission, Aston Martin aspires to be a globally recognized symbol of automotive excellence, embodying the passion, heritage, and craftsmanship that have defined the brand for over a century. | Through its mission, Aston Martin aspires to be a globally recognized symbol of automotive excellence, embodying the passion, heritage, and craftsmanship that have defined the brand for over a century. | ||
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Aston Martin offers a range of high-performance luxury sports cars and grand tourers that combine stunning design, exceptional performance, and refined craftsmanship. The main offerings of the company include: | Aston Martin offers a range of high-performance luxury sports cars and grand tourers that combine stunning design, exceptional performance, and refined craftsmanship. The main offerings of the company include: | ||
1. Sports Cars: | |||
[[File:Aston Martin Sports Car.png|thumb|292x292px|Aston Martin Sports Car]] | [[File:Aston Martin Sports Car.png|thumb|292x292px|Aston Martin Sports Car]] | ||
Aston Martin's sports cars embody the brand's racing heritage and commitment to exhilarating performance. These models are designed for pure driving pleasure, offering precise handling, powerful engines, and dynamic capabilities. Examples of Aston Martin sports cars include the Vantage, DB11, and DBS Superleggera. | Aston Martin's sports cars embody the brand's racing heritage and commitment to exhilarating performance. These models are designed for pure driving pleasure, offering precise handling, powerful engines, and dynamic capabilities. Examples of Aston Martin sports cars include the Vantage, DB11, and DBS Superleggera. | ||
2. Grand Tourers: | |||
[[File:Aston Martin Grand Tourer.png|thumb|Aston Martin Grand Tourer]] | [[File:Aston Martin Grand Tourer.png|thumb|Aston Martin Grand Tourer]] | ||
Aston Martin's grand tourers are designed for long-distance journeys in utmost comfort and style. These models prioritize luxurious interiors, advanced technologies, and high levels of refinement. Grand tourers from Aston Martin include the DB11 and DBS Superleggera Volante, offering open-top driving experiences. | Aston Martin's grand tourers are designed for long-distance journeys in utmost comfort and style. These models prioritize luxurious interiors, advanced technologies, and high levels of refinement. Grand tourers from Aston Martin include the DB11 and DBS Superleggera Volante, offering open-top driving experiences. | ||
3. Limited Edition and Special Edition Models: | |||
[[File:Aston Martin Valkyrie.png|thumb|Aston Martin Valkyrie]] | [[File:Aston Martin Valkyrie.png|thumb|Aston Martin Valkyrie]] | ||
Aston Martin frequently introduces limited edition and special edition models to create exclusivity and cater to collectors and enthusiasts. These unique offerings often feature bespoke design elements, enhanced performance, and limited production numbers. Examples include special editions like the DBS GT Zagato and limited-production models like the Valkyrie hypercar. | Aston Martin frequently introduces limited edition and special edition models to create exclusivity and cater to collectors and enthusiasts. These unique offerings often feature bespoke design elements, enhanced performance, and limited production numbers. Examples include special editions like the DBS GT Zagato and limited-production models like the Valkyrie hypercar. | ||
4. Luxury SUV: | |||
[[File:Aston Martin DBX.png|thumb|Aston Martin DBX]] | [[File:Aston Martin DBX.png|thumb|Aston Martin DBX]] | ||
Aston Martin has expanded its portfolio to include a luxury SUV called the DBX. The DBX represents Aston Martin's entry into the SUV segment, combining performance, versatility, and luxury. It offers ample space, advanced technologies, and off-road capabilities while maintaining the brand's signature design and driving experience. | Aston Martin has expanded its portfolio to include a luxury SUV called the DBX. The DBX represents Aston Martin's entry into the SUV segment, combining performance, versatility, and luxury. It offers ample space, advanced technologies, and off-road capabilities while maintaining the brand's signature design and driving experience. | ||
5. Electrification: | |||
As part of Aston Martin's commitment to sustainability and the future of automotive technology, the company has begun incorporating electrification into its offerings. The Aston Martin Rapide E, an all-electric vehicle, represents the brand's foray into electric powertrains. Aston Martin plans to introduce more electric and hybrid models in the future. | As part of Aston Martin's commitment to sustainability and the future of automotive technology, the company has begun incorporating electrification into its offerings. The Aston Martin Rapide E, an all-electric vehicle, represents the brand's foray into electric powertrains. Aston Martin plans to introduce more electric and hybrid models in the future. | ||
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Buying a car at Aston Martin is a personalized and comprehensive process that focuses on providing customers with a premium experience. Here's an overview of how cars are bought at Aston Martin: | Buying a car at Aston Martin is a personalized and comprehensive process that focuses on providing customers with a premium experience. Here's an overview of how cars are bought at Aston Martin: | ||
1. Showroom Visit: Prospective buyers typically begin by visiting an Aston Martin showroom. These showrooms are designed to reflect the elegance and luxury associated with the brand. Customers can explore the various models on display, experiencing firsthand the craftsmanship, design, and features of Aston Martin cars. | |||
2. Consultation and Customization: Aston Martin sales representatives engage in personalized consultations with customers to understand their preferences, requirements, and budget. They provide in-depth information about different models, performance specifications, available options, and customization possibilities. Customers can choose from a range of exterior colors, interior trims, and optional features to create a bespoke Aston Martin tailored to their tastes. | |||
3. Test Drive: To experience the performance and handling of Aston Martin cars, customers are offered test drives. This allows them to get a feel for the vehicle's power, responsiveness, and overall driving experience. Test drives can be arranged at the dealership or during specific events organized by Aston Martin. | |||
4. Financial Options: Aston Martin offers a variety of financial options to help customers purchase their desired vehicles. This may include financing plans, leasing options, and trade-in services. The sales team provides guidance on the available financing solutions, helping customers choose the option that best suits their needs and budget. | |||
5. Order Placement: Once the customer has decided on the specific Aston Martin model and customization details, an order is placed with the dealership. The sales team assists with the necessary paperwork and documentation, ensuring a smooth ordering process. | |||
6. Production and Delivery: After the order is confirmed, the customer's Aston Martin enters the production process. Aston Martin cars are meticulously handcrafted, and the manufacturing time can vary depending on the model and customization requirements. The customer is provided with regular updates on the production progress. | |||
7. Handover and After-Sales Support: When the vehicle is ready, the customer is invited to the dealership for a personalized handover. During this process, the sales team explains the features, controls, and maintenance requirements of the vehicle. They also provide information about the warranty coverage and after-sales support services available. | |||
8. Ownership Experience: Aston Martin aims to provide an exceptional ownership experience beyond the point of purchase. Customers gain access to exclusive events, owner clubs, and personalized support for any inquiries or service needs that may arise during ownership. Aston Martin strives to build long-lasting relationships with their customers, fostering a sense of community and pride in owning an Aston Martin. | |||
The buying process at Aston Martin revolves around delivering a bespoke and unforgettable experience, combining luxury, performance, and exceptional customer service. From consultation to customization, production to handover, Aston Martin ensures that customers receive a seamless and tailored journey when purchasing their dream car. | The buying process at Aston Martin revolves around delivering a bespoke and unforgettable experience, combining luxury, performance, and exceptional customer service. From consultation to customization, production to handover, Aston Martin ensures that customers receive a seamless and tailored journey when purchasing their dream car. | ||
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Leasing: | Leasing: | ||
1. Lower Monthly Payments: Leasing typically involves lower monthly payments compared to financing or outright purchasing. This is because the lease payments cover the depreciation of the vehicle during the lease term, rather than the full purchase price. | |||
2. Access to Newer Models: Leasing allows customers to regularly upgrade to the latest Aston Martin models. At the end of the lease term, customers can return the vehicle and lease a new one, keeping them at the forefront of automotive technology and design. | |||
3. Maintenance and Warranty Coverage: Leased vehicles are often covered by the manufacturer's warranty for the duration of the lease. This provides peace of mind as maintenance and repair costs may be included in the lease agreement, reducing the owner's financial responsibility for routine servicing and certain repairs. | |||
4. Flexibility: Leasing offers flexibility at the end of the lease term. Customers can choose to return the vehicle and lease a new one, extend the lease period, or potentially purchase the vehicle outright. This allows customers to evaluate their preferences and financial situation before committing to a long-term ownership arrangement. | |||
Outright Purchase: | Outright Purchase: | ||
1. Ownership and Equity: Purchasing an Aston Martin outright provides full ownership of the vehicle. Owners have the freedom to customize, modify, or sell the car as they see fit. Additionally, as the vehicle is paid off over time, equity is built, offering the potential for a return on investment if the vehicle is sold in the future. | |||
2. No Mileage Restrictions: Lease agreements often come with mileage restrictions to protect the vehicle's value. When purchasing outright, there are no mileage limitations, allowing owners to drive the vehicle without concerns about excess mileage fees or penalties. | |||
3. Customization: Outright ownership grants customers the freedom to personalize their Aston Martin to their preferences. There are no restrictions on modifications or alterations, enabling owners to create a truly unique and personalized driving experience. | |||
4. Long-Term Cost Savings: While the initial purchase price may be higher when outright buying an Aston Martin, in the long run, purchasing can be more cost-effective. Once the vehicle is fully paid off, owners no longer have monthly payments, unlike leasing, which requires continuous lease payments. | |||
5. Ownership Duration: Outright purchase is ideal for customers who intend to keep their Aston Martin for an extended period. It offers a long-term commitment to owning and enjoying the vehicle without the need for frequent upgrades or lease renewals. | |||
It's important to consider personal preferences, financial circumstances, and individual driving habits when deciding between leasing and outright purchasing an Aston Martin. Consulting with Aston Martin's sales team can provide valuable insights and help customers make an informed decision that aligns with their needs and lifestyle. | It's important to consider personal preferences, financial circumstances, and individual driving habits when deciding between leasing and outright purchasing an Aston Martin. Consulting with Aston Martin's sales team can provide valuable insights and help customers make an informed decision that aligns with their needs and lifestyle. | ||
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'''Most recent quarter''' | '''Most recent quarter''' | ||
First quarter results for the three months to 31 March 2023: | |||
* Revenue increased by 27% year-on-year to £296m primarily driven by: | |||
** favourable mix dynamics from the DBX707 and V12 Vantage, higher volumes and strong pricing dynamics in the core portfolio | |||
** higher year-on-year Aston Martin Valkyrie programme deliveries (18 vehicles compared to 14 in Q1 2022) | |||
The | * Gross profit increased by 21% year-on-year to £102m (Q1 2022: £84m), with gross margin of 34% (Q1 2022: 36%). The increase in gross profit was primarily driven by favourable mix and higher volumes of core models, partially offset by higher manufacturing, logistics and other costs. | ||
* Operating loss of £51m included a £19m year-on-year increase in depreciation and amortisation, driven by higher Aston Martin Valkyrie programme deliveries and the continuing accelerated amortisation of capitalised development costs ahead of next generation of sports cars starting in 2023 | |||
* Loss before tax of £74m (Q1 2022: loss of £112m) included lower year-on-year net financing charges due to a positive non-cash FX revaluation impact | |||
{| class="wikitable" | {| class="wikitable" | ||
|+ | |+ | ||
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|449.4 | |449.4 | ||
|} | |} | ||
FY-22 Highlights | |||
* Revenue increased by 26% year-on-year to £1.4bn and Q4 revenue increased by 46% year-on-year to £524m driven by: | |||
** Strong pricing dynamics and favourable mix in the core portfolio: | |||
*** FY-22 core Average Selling Price (ASP) of £177k, up 18% from £150k in FY-22 | |||
*** Q4 2022 core ASP of £184k, up 21% from £152k in Q4 2021 | |||
** 80 Aston Martin Valkyrie programme deliveries during 2022, including 36 in Q4 | |||
** Foreign exchange tailwinds for ASPs due to GBP weakness versus major currencies | |||
* Gross profit increased by 31% year-on-year to £451m (2021: £344m) and gross margin increased to 33% (2021: 31%), reflecting improved pricing and gross margin for core models, partially offset by the impact of lower year-on-year gross margin within Specials | |||
* Operating loss of £142m included a £96m year-on-year increase in depreciation and amortisation, primarily driven by higher year-on- year Aston Martin Valkyrie programme deliveries and, to a lesser extent, by accelerated amortisation of capitalised development costs ahead of the next generation of sports car launches | |||
* Net loss of £528m was materially impacted by a £156m negative non-cash FX revaluation of US dollar-denominated debt as the GBP weakened significantly against the US dollar during the year | |||
'''Financial Forecasts''' | '''Financial Forecasts''' | ||
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Forecast highlights: | Forecast highlights: | ||
* Revenue Growth: Revenue is expected to show consistent growth over the three fiscal years, increasing from £1,630.2 million in FY-23 to £2,404.0 million in FY-27, representing a compound annual growth rate (CAGR) of 11.8%. | |||
* Improving Gross Profit: Gross profit is expected to demonstrated a positive trend, rising from £554.3 million in FY-23 to £913.5million in FY-25. | |||
* Rising Gross Margin: Gross margin is forecast to reach its company target of 40% in FY-25, showing consistent year on year growth as the company increases its Average Selling Price to reflect the transition to the Ultra-Luxury segment of the market. | |||
* Net Profit Turnaround: Return to profitability estimated in 2025, with a net profit of £71.6m. | |||
== Risks == | == Risks == | ||