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Aston Martin posts higher first-half revenue, but net debt rises
First-half revenue climbed to £629 million as deliveries increased, while net debt rose 12% to about £1.5 billion and the company secured a £550 million financing package to lift liquidity.
Aston Martin reported first-half revenue of £629 million, up 38% year over year, helped by a 21% increase in deliveries to 2,331 cars, according to Yahoo Finance. The Valhalla plug-in hybrid supercar contributed most of the volume, with more than 220 delivered and roughly 500 expected for the full year, supporting higher average selling prices.
Underlying operating losses narrowed 10% to £109 million, and free cash outflow improved to £198 million from £321 million a year earlier. The company said its full-year guidance remained steady, with wholesale volumes near 5,450 cars and gross margin expected to creep toward the upper 30% range.
The balance sheet, however, did not show the same momentum. Net debt climbed 12% to about £1.5 billion, finance costs rose, and investors are digesting a new £550 million financing package from HPS, the private credit arm of BlackRock.
The financing is split between a £450 million senior secured term loan and a £100 million delayed-draw facility, which the company expects will lift liquidity to roughly £340 million, providing additional time to execute its product plan. Yahoo Finance noted that private credit is not a cheap form of “rescue fuel,” even as the added liquidity aims to support operations.