Aston Martin Lagonda Slips To Loss In FY18

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Aston Martin Lagonda Global Holdings plc (AML.L) on Thursday reported loss before tax of 68.2 million pounds or 31.0 pence per share for the year ended 31 December 2018, compared to profit before tax of 84.5 million pounds or 36.5 pence in the prior year.

The company noted that loss for the year reflects 136 million pounds of associated costs related to its IPO on the London Stock Exchange in October 2018, of which 29 million pounds were cash.

Before one-off IPO costs, adjusted profit before tax for the year was 67.8 million pounds, compared to adjusted profit of 73.1 million pounds last year. Normalized adjusted earnings per share for the year were 27.5 pence, compared to 32.9 pence a year ago.

Adjusted EBITDA for the year was 247.3 million pounds, compared to 206.5 million pounds in the prior year.

Revenue for the year grew 25 percent to 1.10 billion pounds from 876.0 million pounds last year.

Total volumes for the year increased 26 percent to 6,441 units, which was ahead of guidance. Core car volumes were up 30 percent. The company noted that special editions continue to be in high demand.

Looking ahead, Aston Martin said it is maintaining its guidance for financial year 2019, whilst also reconfirming its medium-term objectives.

Dr Andy Palmer, Aston Martin Lagonda President and Group CEO said, "Given our progress on the Second Century plan - including completion of our new manufacturing plant at St Athan and our preparations for the DBX, we are confident that Aston Martin Lagonda will deliver another year of growth."