Aston Martin Holdings (UK) Ltd has just reported its highest-ever revenues in 2017, posting a successful financial turnaround for the Gaydon based supercar maker. The positive financials put Aston Martin ahead of its schedule of its Second Century Plan – launching a new car every year until 2022.
For the 12 months ending 31 December 2017, Aston Martin posted a revenue of £876 million (RM4.7 billion), up 48 percent compared to the previous year. Pre-tax profit rose by £250 million to £87 million (RM473 million), covering the company’s pre-tax losses of £163m (RM887 million) in 2016.
The improved financial performance was largely due to an increase in wholesale sales to 5,098 units, driven by rising demand in North America, UK and China. In 2017, Aston Martin shifted a total of 5,117 cars, a 58 percent growth from 3,229 units in 2016. The average selling price of an Aston Martin vehicle has gone up by 9 percent as reflected by higher uptake of personalisation options from customers.
Aston Martin President and CEO, Dr. Andy Palmer, said: “In 2017, we delivered record revenue, full-year profitability and positive free cash flow. The financial turnaround of Aston Martin is now complete, which enables us to drive further improvements across the business as we maintain our new launch schedule and continue delivering on the Second Century Plan. The outstandingly positive reaction to our new models gives us confidence that we will deliver further performance improvement in 2018.”
Considering the strong growth recorded by Aston Martin in the past year, perhaps Aston Martin Kuala Lumpur couldn’t have picked a better time to make a Malaysian comeback.