Sports car and F1 company Aston Marton Lagonda (AML) has cut its earnings guidance for FY25 again. The firm had already lowered its outlook for the year in its interim results statement.
| Share price: 59p (-1%) | PE: n/a |
| Market cap: £600m | Yield: n/a |
Losses accelerating
For the quarter to December 2025, AML sees EBIT ‘slightly below’ the bottom end of the range of forecasts. As of January 2026, the low end of the range was an EBIT loss of £184 million.
In Q3 last year, AML said it expected an improved financial performance in Q4 ‘driven by increased core volumes’. Meanwhile, it forecast FY EBIT at the bottom of the range, which at the time was a loss of £110 million.
In other words, FY EBIT losses are now seen over £70 million higher than they were in Q3. This is despite a £50 million cut in adjusted operating costs and a £60 million cut in capital spending.
The firm blamed US tariffs and fewer high-margin Special deliveries for the impact on its financial performance. Total wholesale vehicle deliveries were 5,448 last year, down around 10% on the previous year.
Selling the F1 brand
In an effort to bring in cash, AML has agreed to sell the right to use Aston Marton as part of the ‘Aston Martin F1 Team’ name. AMR GP Holdings, indirectly controlled by AML chairman Lawrence Stroll, is paying £50 million for the right.
AMR GP will also own the chassis name in perpetuity as well as certain related branding rights for use in the context of F1. The sale needs majority shareholder approval as it is structured as a ‘substantial property transaction’.
AML has been in ‘limp mode’ for years, so another cut to earnings forecasts is no great surprise. However, the growing losses should be of concern to investors as they are clearly not sustainable.
The fact Lawrence Stroll has had to dig deep and find another £50 million to keep the lights on tells its own story. Don’t forget, this is a business which has gone bust seven times since it was founded in 1913.
Read the press release here: https://www.astonmartin.com/en/corporate/investors
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