ston Martin crashed to a loss of almost half a billion pounds last year amid concerns about its finances.
The luxury car maker insists demand for its products are high – sales rose 26% top £1.38 billion for the year to December.
And it insists it is on track to hit targets for next year and the year after. But it has faced concern ever since it floated in 2018, when it presented itself as a luxury brand that did far more than just make cars.
The business was valued then at £5 billion, compared to £1.4 billion now.
Today it blamed a loss of £495 million partly on the weakness of the pound which made some US dollar denominated debt more expensive.
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Meet the hero of Everest showing the way to climb mountains safelyOverall debts are actually down from £892 million to £766 million.
CEO Lawrence Stroll said: “2022 saw Aston Martin continue to build on the strong foundations that have been established during my three years as Executive Chairman. While the last 12 months presented industry-wide challenges, we look to the future with renewed confidence in our ability to deliver on our vision, and the targets we have set.”
He added: “We have made the biggest investment in our iconic brand through the launch of a bold new creative strategy and brand position that aligns Aston Martin to our future ambitions. Our high-performance DNA has been further amplified by our partnership with the Aston Martin Aramco Cognizant Formula One TM team, driving growing demand from a new generation of customers, with more than 60% new to the brand.”
