Aston Martin has issued a trading update to the stock exchange, warning that it expects to miss its EBITDA (earnings before interest, taxes, depreciation and amortisation) target for 2021 by around £15 million as a result of delays readying the Valkyrie hypercar for production.
Describing the hypercar project as “challenging” and noting that it was “inherited” when he led a consortium buying into the firm in 2020, executive chairman Lawrence Stroll highlighted that production had now begun and that 10 customer cars were delivered before the end of last year.
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What a poor piece of journalism and misleading headline.
The £15m miss is a timing difference and will be earned in 2022. The markets don't care, the shares closed up 6.6% on today's announcement.
Maybe stick to writing about cars rather than financial stuff eh?
Disagree. It's neither poor nor misleading journalism- they stated FACTS!. Not sure why you are being so personal about this. The stock is still hovering around lows and a fair bit below initial levels.
AM has some real challenges in the medium term that require considerable investment and a delay in moving to EV future both which will require cash injections.
The supply v demand scenario won't continue beyond 2022, which will probably affect residual values of AM cars, also DBX sales will tail off as the model moves on in it's lifecycle and the new RR & Ferrari eating some of the sales.