Aston Martin raises economic forecasts for 2023
2023.03.01 04:09
Aston Martin raises economic forecasts for 2023
By Tiffany Smith
Budrigannews.com – After 2022 losses exceeded market expectations, Aston Martin stated on Wednesday that it expected to improve profitability this year and turn positive free cash flow in the second half.
The company, which is listed in London, expects wholesale volumes of approximately 7,000 units in 2023, which is slightly lower than the average market expectation of 7,134 units. However, its forecast of an adjusted core profit margin of about 20% was higher than the typical expectation of analysts.
For the year that ended on December 31, the British company reported a larger adjusted operating loss of 118 million pounds ($142.20 million) compared to a loss of 74.3 million pounds for the same time period a year earlier.
A consensus compiled by the company stated that analysts expected an adjusted operating loss of 135 million pounds for 2022.
