{"id":45965,"date":"2023-08-08T13:31:38","date_gmt":"2023-08-08T17:31:38","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/could-aston-martin-be-ready-to-thrive-not-just-survive\/"},"modified":"2023-08-08T13:31:40","modified_gmt":"2023-08-08T17:31:40","slug":"could-aston-martin-be-ready-to-thrive-not-just-survive","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45965","title":{"rendered":"Could Aston Martin Be Ready To Thrive, Not Just Survive?"},"content":{"rendered":"
\n

For a while it looked as though financial problems might deprive legendary movie spy James Bond of his traditional Aston Martin getaway wheels. Still, according to a report, the next 007 can stop worrying because the British luxury sports carmaker is rallying and can look forward to some positives.<\/p>\n

The report, from Moody\u2019s Investors Service, said a recent improvement in Aston Martin\u2019s finances suggest a buoyant performance through 2025. The report raised Aston Martin\u2019s rating to positive from stable.<\/p>\n

\u201c(the change) reflects the company\u2019s improving operating performance in the first half of 2023, which Moody\u2019s expects to be sustained over the next 18 months on the back of the company\u2019s ongoing launch of the next generation sports cars,\u201d the report said.<\/p>\n

By 2025, Aston Martin should also be able to present its first battery- electric vehicles.<\/p>\n

Aston Martin’s news has been positive recently, with losses and loan costs cut. New investments show confidence in its future. Another positive was a technology deal with Lucid to buy its electric driving systems.<\/p>\n

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In July, Aston Martin announced it cut adjusted operating losses in the 2nd<\/sup> quarter ended June 30 to \u00a338.9 million ($49.5 million), down from an expected loss of \u00a351 million ($65 million), spurred by higher prices and sales of its DBX707 SUV and limited-edition V-12 Vantage Roadsters. The recently launched next-generation DB12 has sold out. The \u00a31 million ($1.3 million) limited edition Valour should begin sales before the end of the year. Aston Martin stuck with its 7,000 vehicles sales forecast for 2023, and an adjusted core profit margin of about 20%.<\/p>\n

In June, Aston Martin said it planned to double sales to \u00a32.5 billion ($3.2 billion) within 5 years and produce earnings before interest, tax, depreciation and amortization (EBITDA) of \u00a3800 million ($1 billion) in 5 years. The long-term sales target was 17,000 a year.<\/p>\n

Earlier this month Aston Martin announced plans to raise \u00a3210 million ($267 million) by selling new shares. The largest shareholder, Chairman Lawrence Stroll\u2019s Yew Tree consortium, Saudi Arabia\u2019s Public Investment Fund, Geely of China, and Mercedes agreed to buy about \u00a3115 million ($146 million) of the shares with the rest available to institutional investors.<\/p>\n

Moody\u2019s said the new share placement showed the company had a more balanced financial policy, and it listed some positives for Aston Martin\u2019s outlook, including sales of more than 8,000 vehicles by the end of next year.<\/p>\n

\u201cMoody’s forecasts (Aston Martin) to achieve strong revenue growth of about 15% to \u00a31.6 billion ($2.0 billion) revenue in 2023, and a further 25% increase in 2024 to reach close to its \u00a32 billion ($2.5 billion) revenue ambition. The recently launched and well-received DB12, the additional new model launches planned for the next 12 months, as well as the continued success of its DBX should support strong volume growth over the next 18 months, and Moody’s forecasts sales to exceed 8,000 units by the end of 2024,\u201d the report said.<\/p>\n

\u201cWhile volume growth is considered a key driver to achieve its revenue and EBITDA targets, Moody’s understands that (Aston Martin) no longer has specific volume targets. Instead, the company focuses on increasing its average selling price (ASP) and achieving a gross margin of above 40% for new models launched to drive its revenue and EBITDA growth,\u201d according to the report.<\/p>\n

The current average selling price for Aston Martins is about \u00a3184,000 ($234,000).<\/p>\n

In a report entitled \u201cImproving the pace \u2013 faster laps yet to come\u201d, Bernstein Research had some positive thoughts, saying DBX707 and V12 Vantage Roadster deliveries continue to accelerate, especially in the U.S. Gross profits should hit 40% in 2024.<\/p>\n

\u201cGross margins are expected to increase alongside the proportion of new models in wholesale volumes. Management has insisted that every new model it produces enjoys gross margins of at least 40%. With the new DB12 and new special Valour set to begin deliveries in Q4, Aston\u2019s gross margins are expected to receive a significant boost towards this target,\u201d Bernstein analyst Daniel Roeska said in a report.<\/p>\n

Investment researcher Jefferies was slightly less positive in a report describing Aston Martin\u2019s latest earnings report as a small step in the right direction.<\/p>\n

\u201cBetter than consensus across all key metrics confirms stabilization at Aston Martin although gross margin improvement remains slow,\u201d Jefferies said.<\/p>\n

Aston Martin\u2019s losses in 2022 rose to \u00a3495 million ($629 million) from \u00a3213.8 million ($272 million) the previous year. In the final quarter of 2022 though the company posted an operating profit of \u00a36.6 million ($8.4 million). Aston Martin\u2019s recovery has been undermined by supply and production problems.<\/p>\n

The 26th James Bond movie is expected by 2025. Just in time for the hero to sneak away from the bad guys in a silent and electric Aston Martin?<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For a while it looked as though financial problems might deprive legendary movie spy James Bond of his traditional Aston Martin getaway wheels. Still, according to a report, the next 007 can stop worrying because the British luxury sports carmaker is rallying and can look forward to some positives. The report, from Moody\u2019s Investors Service, […]<\/p>\n","protected":false},"author":1,"featured_media":45966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-45965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-featured"],"yoast_head":"\nCould Aston Martin Be Ready To Thrive, Not Just Survive? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"For a while it looked as though financial problems might deprive legendary movie spy James Bond of his traditional Aston Martin getaway wheels. 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