Aston Martin Lagonda Global Holdings Plc · LSE:AML
Aston Martin Lagonda Global — FY 2025 Earnings Presentation
29 slides from Aston Martin Lagonda Global's earnings presentation, Feb 25, 2026
Slide 1: FY 2025 Results
FY 2025 Results Preliminary results for the fourth quarter and twelve months ended 31 December 2025 FY 2025 Results, 25 February 2026
Slide 2: Agenda
Agenda CEO Review 3 Financial review 11 Appendix 22 FY 2025 Results, 25 February 2026
Slide 3: Adrian Hallmark, Chief Executive Officer
Adrian Hallmark CHIEF EXECUTIVE OFFICER FY 2025 Results, 25 February 2026
Slide 4: FY 2025 Summary
FY 2025 Summary Delivered significantly stronger H2 2025 performance compared to H1 2025, reflecting the planned timing of new core derivatives, initial Valhalla deliveries and benefits from the transformation programme • Overall performance reflective of challenging macroeconomic environment and ge
Slide 5: Continued product range refresh with core derivatives
VANTAGE S DB12 S UNRELENTING.THRILL. ICON.DRIVEN. Continued product range refresh with thrilling, FOR DRIVERS WHO DEMAND MORE high-performance core THE NEW PINNACLE OF SUPER TOURER derivatives DBX S VANQUISH VOLANTE POWER.DRIVEN. ZENITH.DRIVEN. THE SUPERCAR OF SUVs FY 2025 Results, 25 February 2026
Slide 6: Valhalla
VALHALLA MASTERY. DRIVEN. Valhalla has been a monumental groundbreaking project, successfully achieving the major milestone of delivering the first 152 supercars in Q4 2025 Customers and media reception has been overwhelmingly positive, following extensive global driving events during Q4 2025, with
Slide 7: Responding to challenging market dynamics
Responding to challenging market dynamics Decisive mitigating actions taken Faced external challenges… … Whilst delivering • Continued uncertainty from a challenging • Disciplined approach to balancing production and retail demand to support dealer de-stocking macroeconomic and geopolitical environm
Slide 8: Aston Martin's unique strengths
Aston Martin’s unique strengths Supporting our transformation from a high potential to high performing business Iconic Customer Relentless High Limited Our Brand Focused Innovation Performance Edition People 8 FY 2025 Results, 25 February 2026
Slide 9: Strategic priorities to unlock our future potential
Strategic priorities to unlock our future potential Taking proactive steps and advancing our transformation programme to strengthen our overall position Market Demand Quality • The Valhalla programme has established new • Significant Valhalla customer engagements benchmarks for our launch cycles • N
Slide 10: Positioning for future success
Future product cycle plan to strengthen Aston Martin’s ultra-luxury high performance status An assertive and clear product proposition which puts the customer at the heart of everything we do 2025 2026-2030 2030-2035 Core models • Strongest and most • Extend existing model-line coverage before comme
Slide 11: Doug Lafferty, Chief Financial Officer
Doug Lafferty CHIEF FINANCIAL OFFICER FY 2025 Results, 25 February 2026
Slide 12: 2025 Financial summary
2025 Financial summary Performance impacted by macroeconomic challenges and geopolitical uncertainties, in particular U.S. tariffs Last twelve months • FY 2025 volumes decreased 10%, reflecting, as 6,412 guided, fewer Specials, disciplined approach to Total Wholesales1 6,030 5,448 core production an
Slide 13: Wholesale volumes & Average Selling Prices (ASP)
Wholesale volumes & Average Selling Prices (ASP) Maintained disciplined approach to balancing production and retail demand Total FY 2025 wholesales1: 5,448, down 10% Total ASP: £209k, down 15% Specials: 182 (17)% 245 231 201 209 SUV: 1,717 (9)% Sport/GT2: 3,549 £k (10)% 177 188 177 185 FY 2022 FY 20
Slide 14: 2025 Wholesales by region
2025 Wholesales1 by region Total volumes impacted by a challenging macroeconomic environment and geopolitical uncertainties; relatively well-balanced delivery across the regions YoY change in wholesales by region • US and UK reasonably (5)% (3)% robust, although behind (12)% original expectations (2
Slide 15: 2025 Gross margin
2025 Gross margin Reduction in gross margin reflects decrease in Specials and core volumes in addition to increased warranty costs partially offset by manufacturing & logistics costs, dealer support, other quality related investments and the impact from U.S. tariffs (%) 1.3% (5.5)% 36.9% (0.7)% (0.1
Slide 16: FY 2025 adjusted EBIT
FY 2025 adjusted EBIT Adjusted EBIT declined YoY reflecting gross margin decrease, partially offset by a 16% decrease in both adjusted net operating expenses (exc. D&A) and adjusted D&A (£m) EBT Analysis (83) £m FY 2025 FY 2024 (189) Adjusted EBITDA 108.1 271.0 (5.2)% margin Adjusted D&A (297.3) (35
Slide 17: 2025 Free cash flow
2025 Free cash flow Significant improvement in H2 2025 FCF benefiting from extensive range of new core derivatives, Valhalla and improved cash collection in Q4 2025 (£m) 437 6 (5) 68 (364) (410) (341) (143) 1 2 EBT Add back Tax paid Cash generated Working Capital Investing activities Net interest pa
Slide 18: FY 2025 cash & debt
FY 2025 cash & debt Total year-end liquidity* of £250m following strong sequential Q4 performance (£m) £m FY 2025 FY 2024 305 Loan notes** (1,329.8) (1,378.9) (5) Inventory financing (39.6) (38.4) 360 Bank loans and overdrafts (170.4) (8.4) 250 Lease liabilities (91.8) (96.6) Gross debt (1,631.6) (1
Slide 19: Expect to deliver a material improvement in FY 2026 financial performance
Expect to deliver a material improvement in FY 2026 financial performance Driven by an enhanced product mix and benefits from the ongoing transformation programme and disciplined approach to operations FY 2026 Guidance 2026 adjusted EBIT margin improving towards breakeven Total wholesale Similar to
Slide 20: Adrian Hallmark, Chief Executive Officer
Adrian Hallmark CHIEF EXECUTIVE OFFICER FY 2025 Results, 25 February 2026
Slide 21: Q&A
Q&A FY 2025 Results, 25 February 2026
Slide 22: Appendix
Appendix Income Statement 23 Cashflow, Balance Sheet & Net Debt 24 Quarterly Breakdown 25 Alternative performance measures 26 Racing. Green. sustainability strategy 27 overview Disclaimer 28 Contacts 29 FY 2025 Results, 25 February 2026
Slide 23: Income Statement
Income Statement FY 2025 vs FY 2024 and Q4 2025 vs Q4 2024 £m FY 2025 FY 2024 Q4 2025 Q4 2024 Revenue 1,257.7 1,583.9 518.1 589.3 Cost of sales (887.9) (1,000.0) (357.7) (382.3) Gross profit 369.8 583.9 160.4 207.0 Gross margin % 29.4% 36.9% 31.0% 35.1% Adjusted operating expenses (559.0) (666.7) (1
Slide 24: Cashflow, Balance Sheet & Net Debt
Cashflow, Balance Sheet & Net Debt FY 2025 vs FY 2024 and Q4 2025 vs Q4 2024 £m FY 2025 FY 2024 Q4 2025 Q4 2024 Cash generated from operating activities 74.1 123.9 163.5 175.3 Cash used in investing activities (excl. interest) (341.0) (400.6) (87.0) (100.6) Net cash interest paid (143.0) (114.9) (71
Slide 25: 2025 Quarterly Breakdown
2025 Quarterly Breakdown Income statement, cashflow and Alternative Performance Measures £m Q1 2025 Q2 2025 Q3 2025 Q4 2025 £m Q1 2025 Q2 2025 Q3 2025 Q4 2025 Revenue 233.9 220.5 285.2 518.1 Cash (used in)/generated from (31.1) (49.9) (8.4) 163.5 Cost of sales (168.7) (159.1) (202.4) (357.7) operati
Slide 26: 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 27: 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 28: Disclaimer
Disclaimer This presentation has been prepared by Aston Martin Lagonda Global Holdings PLC (“AML”) solely for use at the FY 2025 results analyst and investor meetings being held on 25th February 2026 in connection with a discussion of its FY 2025 results. For the purposes of this notice, this “prese
Slide 29: 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 Maddie Herborn – Investor Relations Analyst madeleine.herborn@astonmartin.com Tel: +44 (0) 734
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