Almost a year after the equity investment by construction and manufacturing specialist Investindustrial, Aston Martin has posted a modest improvement in its performance as it gears up for the biggest programme of change in the company’s long and often troubled history.
Over the next five years up to £500 million (US$800 million) will be invested in new products and technology, aided greatly by the company’s recent strategic partnership with Daimler AG, which will see the wholesale replacement of its ageing V8 powertrains with a bespoke new architecture developed together with Mercedes-AMG.
The company’s Chief Financial Officer, Hanno Kirner, announced revenues for the 12 months ended 31 December 2013 of £519m (up 13 per cent on 2012), with earnings (EBITDA) up 22 per cent to £84.8m. Impressive though these sound, it’s worth putting these in context with the company’s performance in 2011, which at £511 million and £81 million respectively show its two-year performance to be broadly flat.
“We made excellent progress on a number of fronts in 2013,” said Kirner, “growing our global sales, improving our EBITDA and building further on the company’s strong brand as we celebrated our centenary around the globe. We will, in the next few years, be implementing the biggest investment programme in our 101-year history, preparing the ground for new and exciting products in the future.”
Aston Martin finalised their partnership with Daimler AG in December 2013, which saw up to five percent of non-voting shares transferred to Daimler together with an observer status on the Aston Martin Holdings board. Daimler also joined the existing shareholder body that includes Primewagon, Adeem Investment and Investindustrial.
Kirner added, “We are engineering a completely new architecture and technologies to ensure that our next generation of sports cars is at the forefront of design, performance and technology.”
“The strategic partnership with Daimler AG will bring with it cutting edge electrical and electronic expertise, and the shared development of world-class bespoke V8 powertrains.”
During the past year, Aston Martin have launched the Vanquish Volante and V12 Vantage S, while these increased revenues benefited from a full year of Vanquish Coupé sales.