Aston Martin Lagonda Global Holdings plc (AML) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us today for Aston Martin's Half One 2025 results. It's a pleasure to be here alongside Doug Lafferty, CFO, and James Arnold, Head of Investor Relations. Before Doug takes you through the financial performance in detail, I'm going to provide a summary of our key achievements and areas of focus during the first half as we prepare for a planned increase in volumes which will drive enhanced financial performance in the second half of 2025. This includes the expected delivery of positive free cash flow generation in the second half and a 2025 adjusted EBIT improving towards breakeven. As we outlined at the 2024 results, following an intense period of product development, our focus has shifted from pure volume orientation to value-driven growth in order to create a sustainably profitable business model. And I'm delighted to report that we're progressing well with our operational and cost transformation program, details of which I'll share with you shortly. Our first half performance, as guided, reflected our disciplined approach to production and deliveries. This resulted in retail volumes outpacing our wholesale volume by over 40%, as we seek to optimise our stock levels around the world by model. We're already seeing the benefits from the investment in our next generation of core models through strong ASP growth up 7% to £192,000. and this will further improve as we continue to launch new derivatives including the recently announced Vantage S, DBXS, Vantage Roadster and Vanquish Volante and drive further option sales. Supported by robust demand and a disciplined supply policy, once these core models become established across our markets, I expect to see our forward order book improve beyond the current five-month horizon...