Aston Finances

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Discussion

Neil1300R

Original Poster:

5,490 posts

180 months

Sunday 27th February 2011
quotequote all
No, not me needing help on financing the next car. Just a quick update on Aston Martin's financial results - figures curtesy of the Sunday Times. Thought I'd post them up here as there has been many comments on Pistonheads of late re the dire state of the company's finances.
Now making 5000 cars per annum (700 when Dr Bez took over).
Profits - £80M - up 30% from the previous year
Revenues - £433M - up fgrom £309M for 2009.

Dar (Kuwait private equity group) - the biggest shareholder has re-financed its debt repayments.

Dar's spokesman said: "Of course they are private equity company, so at some point they will exit (ownership). We have been talking about a listing at some point in the mediium term".

My take on it - looks quite good, but doesn't leave lots of additional money for R&D. 'Only' make ~£16k profit per car. Figures don't take account of any profit on the One-77.

Edited by Neil1300R on Sunday 27th February 21:18

anonymous-user

56 months

Sunday 27th February 2011
quotequote all
Isn't 80m / 5000 = 16000?

michaelniwot

42 posts

242 months

Sunday 27th February 2011
quotequote all
Greg66 said:
Isn't 80m / 5000 = 16000?
Isn't that what he said? 16k = 16,000.

fluffer

34 posts

166 months

Monday 28th February 2011
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The timestamps on each post/edit will reveal the problem here!

Neil1300R

Original Poster:

5,490 posts

180 months

Monday 28th February 2011
quotequote all
I blame Top Gear - typing the info just as the F40 vs 959 piece came on - lost all concentration!
Yes I did edit it after the typo was pointed out.

MichaelV8V

650 posts

263 months

Wednesday 2nd March 2011
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rjn21 said:
Profits from car manufcature and sales were roughly £21.5m so at 5000 cars, that is £4,300 car.
.
.
.
Provision for warranty claims of £21.6m
Err, I'm not an accountant, but does that mean they set aside their entire profit on each car, i.e. > £4300 per car, to cover the cost of warranty claims? Thats not good!


UH-Matt

2,172 posts

242 months

Wednesday 2nd March 2011
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While its good to see improvement, to me thats not very good at all. When you see how much money other makers are throwing in to R&D of new models (and lots of new models are being delivered this year, you can see from these figures why AM have only come up with the Cygnet and Virage which are based on a Toyota and an existing model for a gap they didn't need to fill...


hartley

704 posts

201 months

Wednesday 2nd March 2011
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Good analysis -in other words they are in deep do do - totally dependant on bank or an equity investor itself in trouble with it's own bankers . Not good news - any money they make will go straight to one of these two parties

Murph7355

37,944 posts

258 months

Wednesday 2nd March 2011
quotequote all
Would R&D not be an "operating cost" and hence you can't really tell what they're spending on it from those figures?

This amused me "Sale of the AM brand (other than for cars) to Dar for £5m". Guess we can expect all manner of tat bearing the wings soon...though the brand guys on the car side don't seem too "aware", so I guess it doesn't really matter.

It's what they're doing with the model line up/brand that worries me the most...