Nov 22, 2017, 15:11 PM

Aston Martin Posts Record Nine-Month Profits

Rising demand drives fourth consecutive quarter of pre-tax profitability
  • Nine-month revenues rise 84% to £567 million on strong demand for DB11 and limited-edition Vanquish Zagato
  • EBITDA up almost fourfold year-on-year to £121 million
  • Pre-tax profit of £22 million, reversing prior-year losses of £124 million
  • Strong cash generation of £150 million from operating activities
  • Third quarter revenues rise 62% to £156 million
  • Increasing full-year baseline revenue guidance to over £840m and EBITDA guidance to at least £180m

22 November 2017, Gaydon, UK: Aston Martin Holdings (UK) Ltd, the producer of luxury handcrafted sports cars, today reported record nine-month results on revenues up 84% to £567 million for the period ending September 30.

Continued strong demand for the DB11 helped drive a near fourfold increase in EBITDA to £121 million, whilst the company generated pre-tax profits of £22 million, reversing prior-year losses of £124 million.

Dr Andy Palmer, Aston Martin President and Chief Executive Officer, said: “Our strong financial performance and continued profitability reflects the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year. Our ‘Second Century’ transformation program continues to gain momentum, paving the way for an expanded global presence.”

For the first nine months of the year, wholesale unit sales jumped 65% to 3,330, while average selling price rose to £150,000 reflecting an improved mix and higher uptake of options.  The company also sold out its limited-edition Vanquish Zagato model.

For the three-month period to September 30, Aston Martin generated an operating profit of £8.6 million, compared with an operating loss of £8.5 million in the prior year quarter, on third quarter revenues that increased to £156.4 million from £96.6 million.

The company generated cash from operating activities of £150.3 million through the first nine months of 2017 and ended the period with £72 million of cash. Alongside its ongoing product renewal programme, Aston Martin has continued with the construction of its new St Athan manufacturing facility in Wales, where production of a new luxury sports utility vehicle is expected to begin in 2019.

Mark Wilson, Executive Vice President and Chief Financial Officer, said: “I am pleased to report that our performance has exceeded budget for 11 successive quarters and that revenue for the latest 12 months period continues to grow to record levels. Successful execution means the business is on track to outperform previous 2017 revenue and EBITDA guidance.”

Aston Martin has revised its guidance for the full-year, reflecting the strong performance in the first nine-month period. Aston Martin now anticipates delivering EBITDA of at least £180 million on revenues of over £840 million, compared with previous guidance of £175 million and £830 million respectively.

About Aston Martin:

Aston Martin is an exclusive luxury sports car company with a unique British heritage. The iconic brand fuses the latest technology, exceptional hand craftsmanship and graceful styling to produce pioneering models including the DB11, Rapide S, Vanquish S, Vantage S and Vanquish Zagato. Based in Gaydon, England, Aston Martin designs and creates sports cars offering style and performance which are sold in more than 50 countries around the world.

Founded in 1913, the company recently launched its Second Century Plan for sustainable long-term growth. This is underpinned by the introduction of new models including the DB11, new Vantage, RapidE and DBX concepts and the revival of Lagonda with the Lagonda Taraf as well as the development of a new manufacturing centre in St Athan, Wales. In 2016 Aston Martin, which is privately owned, generated revenues of more than £593 million and employed 1,495 people.  

For more information visit Aston Martin online at

Safe Harbour Statement

This release contains certain forward-looking statements, which are based on current assumptions and estimates by the management of Aston Martin Holdings (UK) Limited (“Aston Martin”). Such statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements. These risks may include, for example, changes in the global economic situation, and changes affecting individual markets and exchange rates.

Aston Martin provides no guarantee that future development and future results actually achieved will correspond to the assumptions and estimates stated here, and accepts no liability if they should fail to do so. We undertake no obligation to update these forward-looking statements and will not publicly release any revisions that may be made to these forward-looking statements, which may result from events or circumstances arising after the date of this presentation.

We confirm that to the best of our knowledge the condensed set of consolidated financial statements have been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the EU and fairly represent the financial condition and operations of the Aston Martin group as at 30 September 2017.