Aston Martin Lagonda Global Holdings plc (AML) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I noticed that it seems to be more H2 weighted this year versus at least 2024 and 2025 when it's more balanced. I'm wondering why is that? And then I've got two more or three more questions, but should I ask them one at a time? No. Why don't you ask And the other issue a little then the other one was just on the age stock realignment and dealer support. It seems it was supposed to be completed in Q2, but now it seems to continue into H2. Can you clarify please how much remains to be done? And once it's complete, let's think in 2027, where should average selling prices for core settle, do you believe? That's the second question. And then the third one would be just on the new financing facility. So that's great news. And you mentioned the 100,000,000 drawdown term loan and I think there's an additional $100,000,000 on top of that. I just wanted to make sure that they're currently available and if not what's required to unlock them? Thank you. Thanks, Kristian. If I can start, I'll do the easier one first if I may, the aged stock question. You're absolutely right that the rundown of that stock was slower than we thought. And as I mentioned, I think globally, it's probably at the half year 70 to 80 cars worse than we'd anticipated, but it's hundreds of cars better than it was at the beginning of the year. And you can do the calculation. With 30% more retail than wholesales, that is a huge shift in the total number. So we missed by, let's say, 10% of what we plan to achieve. As we move forward, as we get the stock in balance and as the retails and the wholesales come into balance in the second half of the year and through 2027, I can't give you an absolute prediction on what that will do to the ASP, but you can see what the VM is. You can see what normal VM or variable m...