Aston Martin Lagonda Global Holdings Plc · LSE:AML
Aston Martin Lagonda Global — FY 2024 Earnings Presentation
31 slides from Aston Martin Lagonda Global's earnings presentation, Feb 26, 2025
Slide 1: FY 2024 Results
FY 2024 Results Preliminary results for the fourth quarter and twelve months ended 31 December 2024 FY 2024 Results, 26 February 2025
Slide 2: Agenda
Agenda CEO Review 3 Financial review 12 Appendix 24 FY 2024 Results, 26 February 2025
Slide 3: Adrian Hallmark, Chief Executive Officer
Adrian Hallmark CHIEF EXECUTIVE OFFICER FY 2024 Results, 26 February 2025
Slide 4: Reinvigorated core Portfolio
VANTAGE DB12 THRILL.DRIVEN. ICON.DRIVEN. Reinvigorated ENGINEERED FOR PURIST DRIVERS core THE WORLD’S FIRST SUPER TOURER DBX707 Portfolio VANQUISH POWER.DRIVEN. ZENITH.DRIVEN. THE SUPERCAR OF SUVs FY 2024 Results, 26 February 2025 VENI VIDI VANQUISH
Slide 5: 2024 – a year of significant product milestones
2024 – a year of significant product milestones Delivered an entirely reinvigorated range of models in line with our ultra-luxury high performance strategy • Launched four highly acclaimed new core models within 18 months • Delivered three iconic Specials • Elevating customer experience through our
Slide 6: Consistent feedback from key stakeholders: customers, dealers and people
Consistent feedback from key stakeholders: our customers, dealers and people… Highlights our brand positioning is aligned across internal and external audiences Rarity Performance Passion INTENSITY. DRIVEN. Elegance Refined Strength Underlines our confidence in and power of Aston Martin’s unique bra
Slide 7: Requirements to successfully deliver in the ultra-luxury sector
Requirements to successfully deliver in the ultra-luxury sector What excellence looks like… Production and Brand Innovation Manufacturing Capital Investment 7 FY 2024 Results, 26 February 2025
Slide 8: Foundations to build future success
Foundations to build future success Vital ingredients are already in place following a period of significant investment and strategic transformation Passionate loyal customers Iconic history Ultra-luxury positioning Portfolio transformation Supercharged in addition to those new to 112 years of Aston
Slide 9: Unlocking our future potential
Unlocking our future potential Our immediate priorities to strengthen the position of the Company through operational excellence and strong discipline Brand awareness and demand Cost base optimisation and Product innovation Excellence in quality and generation productivity enhancements throughout th
Slide 10: Valhalla. The next major milestone in Aston Martin's history
Valhalla. The next major milestone in Aston Martin’s history Our first series-production mid-engined PHEV supercar, taking learnings from Valkyrie and Formula 1 and applying groundbreaking technology to a road vehicle We are entering a new era for Valhalla is here. We are firmly Aston Martin as we d
Slide 11: Creating a sustainably profitable business model to deliver future success
Creating a sustainably profitable business model to deliver future success Entering a period of greater product stability following the transition to an all-new portfolio 4. 1. Delivering Driving operational sustainably positive excellence and adjusted EBIT and discipline across the Free Cash Flow b
Slide 12: Doug Lafferty, Chief Financial Officer
Doug Lafferty CHIEF FINANCIAL OFFICER FY 2024 Results, 26 February 2025
Slide 13: 2024 Financial summary
2024 Financial summary Performance reflects significant H2 weighting of wholesale volumes during year of portfolio transition Last twelve months 6,620 • FY 2024 volumes decreased 9%, in line with 6,412 revised guidance, during year of portfolio Total Wholesales1 6,178 transition 6,030 (Units) • Q4 2
Slide 14: Performance progression in FY 2023 & FY 2024
Performance progression in FY 2023 & FY 2024 Delivery has been H2 weighted for various reasons including launch timings of both Core and Special products Total Wholesales1 Revenue (Units) (£m) FY’24: 6,030 | FY’23: 6,620 FY’24: 1,584 | FY’23: 1,633 2,391 593 589 1,685 1,641 2,222 392 382 1,269 296 1
Slide 15: Wholesale volumes & Average Selling Prices (ASP)
Wholesale volumes & Average Selling Prices (ASP) Sport/GT volumes benefited from a full year of DB12; DBX volumes impacted by transition to upgraded model; Total ASP supported by higher Specials volumes and mix Total FY 2024 wholesales1: 6,030, down 9% Total ASP: £245k, up 6% By model (units); YoY %
Slide 16: 2024 Wholesales by region
2024 Wholesales1 by region Total volume impacted by planned portfolio transition and disruptions experienced in H2; balanced delivery across all regions but with material impact in China YoY change in wholesales by region (5)% (5)% (10)% (16)% Ex. China 2% 2,037 1,928 1,994 1,796 1,448 1,141 1,086 1
Slide 17: 2024 Gross margin
2024 Gross margin 220 basis point reduction in gross margin impacted by volumes and general inflationary affects; remain committed to delivering minimum 40% gross margin (%) 0.5% 0.3% (1.7)% (1.0)% (0.3)% 39.1% 36.9% FY Core Wholesales1 Special M&L FX Other FY 2023 2024 Core Wholesales Specials Manu
Slide 18: 2024 Adjusted EBITDA
2024 Adjusted EBITDA 160 basis point decrease in EBITDA margin reflects volume impact through a year of transition and FX headwinds, partially offset by a reduction in OpEx (£m) EBT Analysis 18.7% margin 17.1% £m FY 2024 FY 2023 margin 22 Adjusted EBITDA 271.0 305.9 8 (40) (5) D&A (353.8) (385.6) (2
Slide 19: 2024 Free cash flow
2024 Free cash flow Free cash flow improved sequentially each quarter; overall outflow significantly impacted by Deposit unwind as Specials were delivered to customers throughout the year (£m) 532 (1) 242 (118) (289) (392) (401) (115) 1 2 EBT Add back Tax paid Cash generated Working Capital Investin
Slide 20: 2024 Cash & debt
2024 Cash & debt Total liquidity* of £514m, in line with guidance, supported by financing activities in 2024 and strong collections in Q4 (£m) £m FY 2024 FY 2023 357 2 Loan notes** (1,378.9) (980.3) Inventory financing (38.4) (39.7) Bank loans and overdrafts (8.4) (89.4) 392 360 Lease liabilities (9
Slide 21: 2025 - Material improvement in financial performance; positive adjusted EBIT in FY25 and FCF in H2
2025 - Material improvement in financial performance; positive adjusted EBIT in FY25 and FCF in H2 Positively positioning the Company as it enters 2026 progressing towards unchanged mid-term financial targets FY 2025 Guidance FY 2027/28 Targets Unchanged Total wholesale Mid single-digit % growth Rev
Slide 22: Adrian Hallmark, Chief Executive Officer
Adrian Hallmark CHIEF EXECUTIVE OFFICER FY 2024 Results, 26 February 2025
Slide 23: Q&A
Q&A FY 2024 Results, 26 February 2025
Slide 24: Appendix
Appendix Income Statement 25 Cashflow, Balance Sheet & Net Debt 26 Quarterly Breakdown 27 Alternative performance measures 28 Racing. Green. sustainability strategy overview 29 Disclaimer 30 Contacts 31 FY 2024 Results, 26 February 2025
Slide 25: Income Statement
Income Statement FY 2024 vs FY 2023 and Q4 2024 vs Q4 2023 £m FY 2024 FY 2023 Q4 2024 Q4 2023 Revenue 1,583.9 1,632.8 589.3 593.3 Cost of sales (1,000.0) (993.6) (382.3) (324.9) Gross profit 583.9 639.2 207.0 268.4 Gross margin % 36.9% 39.1% 35.1% 45.2% Adjusted operating expenses (666.7) (718.9) (1
Slide 26: Cashflow, Balance Sheet & Net Debt
Cashflow, Balance Sheet & Net Debt FY 2024 vs FY 2023 and Q4 2024 vs Q4 2023 £m FY 2024 FY 2023 Q4 2024 Q4 2023 Cash generated from operating activities 123.9 145.9 175.3 114.5 Cash used in investing activities (excl. interest) (400.6) (396.9) (100.6) (121.9) Net cash interest paid (114.9) (109.0) (
Slide 27: 2024 Quarterly Breakdown
2024 Quarterly Breakdown Income statement, cashflow and Alternative Performance Measures £m Q1 2024 Q2 2024 Q3 2024 Q4 2024 £m Q1 2024 Q2 2024 Q3 2024 Q4 2024 Revenue 267.7 335.3 391.6 589.3 Cash (used in)/generated from (61.5) (10.4) 20.5 175.3 Cost of sales (168.0) (202.1) (247.6) (382.3) operatin
Slide 28: Alternative performance measures
Alternative performance measures In the reporting of financial information, the Directors have adopted various Alternative Performance Measures ("APMs"). APMs should be considered in addition to IFRS measurements. The Directors believe that these APMs assist in providing useful information on the un
Slide 29: Racing. Green. sustainability strategy overview
Racing. Green. sustainability strategy overview Aston Martin is embracing a new, driving ambition: to be a world-leading sustainable ultra-luxury automotive business. This ambition is the central objective of our sustainability strategy, Racing. Green. Sustainability reports and disclosures ESG prog
Slide 30: Disclaimer
Disclaimer This presentation has been prepared by Aston Martin Lagonda Global Holdings PLC (“AML”) solely for use at the FY 2024 results analyst and investor meetings being held on 26th February 2025 in connection with a discussion of its FY 2024 results. For the purposes of this notice, this “prese
Slide 31: Aston Martin Lagonda Investor Relations Team
Aston Martin Lagonda Investor Relations Team investor.relations@astonmartin.com www.astonmartin.com/corporate James Arnold – Head of Investor Relations james.arnold@astonmartin.com Tel: +44 (0) 7385 222347 Ella South – Investor Relations Analyst ella.south@astonmartin.com Tel: +44 (0) 7776 545420 FY
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