Aston Martin Lagonda Global Holdings plc (AML) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining the Aston Martin Quarter 1 2025 results call. I'm Adrian Hallmark, CEO of Aston Martin Lagonda. Alongside me today, I have Doug Lafferty, CFO, who will shortly take you through the Quarter 1 financial headlines. As I outlined at the four-year results in February, we have undertaken a disciplined approach to production and stock reduction at the start of this year. This is reflected in our Quarter 1 performance, with the wholesale broadly in line with the prior year as guided, but it's worth noting that the retail sales to customers significantly outpaced wholesale volumes by around 50%. We expect this positive trend to continue through the first half of 2025 as we destock and balance the supply with the underlying demand for our ultra-luxury high-performance cars. Over the last couple of years, Aston Martin has been through an extremely intense period of product development and launch. And as a result, we can now offer our customers a fully reinvigorated core product portfolio, benefits of which are demonstrated by the circa 10% increase in our quarter one core average selling price. But that's just the start. Our production innovation focus, which will support sustainable, profitable growth in the future, has already resulted this year in the launch of three new derivatives of our core models. These include the Vantage Roadster, the Vanquish Volante, in addition to today's announcement of the new DBX-S model, which from quarter four of this year will deliver even more power, reduced weight, and offer a more assertive and sporty design to complement our SUV product. The S name and the S range has long been associated with Aston Martin, and today's news highlights this remains very much part of our strategy going forward. ...