Q3 2024 Aston Martin Lagonda Global Holdings PLC Earnings Call Transcript
Key Points
- Aston Martin Lagonda Global Holdings PLC (AMGDF) successfully launched the Vanquish in September, marking the sixth class-leading product launch in 16 months, revitalizing their product range.
- The company received overwhelmingly positive feedback from international automotive media for the Vanquish, validating its claim of delivering segment-leading products.
- The order book extends well into Q1 2025 across all model lines, indicating strong demand and future sales potential.
- The company is focused on maximizing the commercial potential of its brand and new models, aiming for higher gross and EBITDA margins in the midterm.
- Q3 financial performance showed improvement with wholesale volumes up 14%, revenue up 8%, and gross profits increased by 7% compared to the prior year.
- Continued volatility in global supply chains and macroeconomic challenges, particularly in China, have impacted the company's performance in 2024.
- The company had to adjust production plans due to component shortages, affecting the smoothness of operations.
- Liquidity concerns remain as the company expects further cash outflow in Q4, despite improved free cash flow trends.
- The order book only extends into Q1 2025, which is shorter than the desired 6 to 8 months coverage, indicating potential challenges in sustaining demand.
- The company's personalization options are currently limited compared to competitors, which could impact revenue potential from upselling.
Good morning everybody. Adrian Hallmark here with the team in Gayden and thank you for joining us today. It's great to be back with you. It's it's incredible. It's been already 60 days. I've been tense learning and a lot of good experiences since I joined Aston Martin.
And I'm really excited about the growth potential that we see before us. For this iconic brand, we continue to continue to deliver against our commitments on product launches. And the, the latest version of which is, of course, Vanquish which we launched in September successfully completing the most diverse and dynamic portfolio of products in Aston's history. And certainly we believe the freshest and most dynamic in the world today. In our segment, we expect initial customer deliveries of vanquish to start before the year end context. This launch is the sixth class leading product that Aston has launched in the past 16 months.
And that activity has fully reinvigorated the product range, which I feel demonstrates the team's unique talent and
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