Thursday , February 25 2021

Rolls-Royce celebrates record sales, but Aston Martin warns on profits – business live – The Guardian, Theguardian.com


Back on

Rolls-Royce…. and its chief executive has warned that Britain needs to ensure smooth trading with the EU after Brexit:

Olly Barratt(@ ollybarratt)

Rolls-Royce CEO Torsten Müller-Ötvös tells me the UK election ‘removed some uncertainty’ around Brexit and says ‘that’s great’.

January 7,

Olly Barratt(@ ollybarratt)

Rolls-Royce CEO Torsten Müller-Ötvös tells me imports and exports for the automaker need to be ‘frictionless’ in a UK-EU trade deal.

January 7,

****************Olly Barratt(@ ollybarratt)

And would Rolls-Royce build cars away from the UK if a trade deal With the EU isn’t favorable?

Rolls-Royce CEO Torsten Müller-Ötvös tells me, ‘there are no plans to move somewhere else, that’s for sure. ‘

January 7,

**************************************************************************************************************************************************

4. ******************************************************************************************************************************************************************************************************************************************************************************************************** (AM) ********* (EST) **********************************************************************************************************************************************************************************************************************************************************************************************:

Neil Wilson (of) ****************************** (Markets.com) ****************************** (reckons) ******************************** Aston Martinhas been forced to slash prices due to weak demand, saying:

**********************

**************

Heavy discounting when buyers can see multiple models on the forecourt is impossible to avoid.

He points out that the strong order book for the DBX SUV means Aston Martin can now borrow another $ 100 m from lenders.

However ….

**********************

**************

This is a drop in the ocean though and for sure Aston needs to raise cash in some way. The bond market looks unpalatable but even an equity raise could prove tricky. The rationale to go private is impossible to resist – the brand still has the cache to make it appealing.

(********************************** (*************************************** Neil Hume(@ humenm)If it was a horse. .. they would shoot it. https: // t .co / r7t0yBmmzJ pic.twitter.com/EsZVcvDnpA

January 7,

(********************************************** 3. (amEST**************************************************************************************************************************************************************************************************************************************************************************:

Cat Rutter Pooley of the Financial Times says Aston Martin’s “car crash” of a stock market float has got even worse.

She writes:

**********************

**************

This morning’s unscheduled trading update is a doozy. Adjusted earnings before interest tax depreciation and amortisation – the luxury carmaker’s preferred earnings measure – is expected to be just £ 130 m- £ (m in. FactSet reports a consensus estimate of £ 247 m. Adjusted ebitda margins will be between 5 per cent and 5 per cent. Back

The list of reasons for the latest profit warning are long. Wholesale sales have fallen 7 per cent year-on-year, with Europe underperforming. Core retail sales increased, but customers needed more financing support to persuade them to buy. The cheaper Vantage model made up more of the sales mix.

(3.) ****************************************************************************************************************************************************************************************************************************************************************************** (AM) ********* (EST) **************************************************************************************************************************************************************************************************************************************************************************************************************: ******************************************************************************************************************************************************************************************************************************************************************************

That pulls them down to (p, from

************************************************************************************************************************************************************************************** p last night, dragging the company value down to just over £ 1bn.

It’s only months ago Aston Martin floated on the UK stock market, at a price of £ 21 per share. The stock has performed dreadfully since, as this chart shows:

************************************ (************************************************************ (**************************************************************** (****************************************************(********************************************************************************************************************************************************************************************************************** (**************************************************************************(****************************************************************************(****************************************************************************

(********************************************************************************(**************************, Aston Martin’s share price Photograph: Refinitiv

3. **************************************************************************************************************************************************************************************************************************************************************************************************** (AMEST)

**************************************************************************************************************************************************************************************************************************************************************************************************:

Aston Martin is explaining what went (badly) wrong in 2333 now, on a call with analysts and investors (and my colleague Julia Kollewe).

CEO Andy Palmer is talking up the prospects for its new sport utility vehicle …..

Julia Kollewe(@ JuliaKollewe)Shocking profit warning from Aston Martin sees (profits at £) m- £ m, roughly half of 2018 levels; but CEO highlights surge in orders for new DBX SUV to 1, since Nov launch – ‘significantly better than any other previous models’ (January 7, ************************************************************************************************************************************************************)

… while also explaining how Aston Matin has been forced to slash prices:

************************Julia Kollewe(@ JuliaKollewe)Aston MartinCEO Andy Palmer: had to discount more heavily than planned and pay higher volume bonuses to dealers, to sell cars in Europe after slump in demand (January 7,

(****************************************************************************************

(2.) amEST: 55

Aston Martin posts profits warning after “very disappointing year”

(****************************************************************************************(************************************************************

************************************ (************************************************************ (**************************************************************** (****************************************************(**************************************************************************************************(****************************************************************************(**************************************************************************

**************************************************************** (**************************************************************************

(********************************************************************************

(**************************, Photograph: Aston Martin / PA

Newsflash: Aston Martin

, another storied carmaker, has hit shareholders with a stinging profits warning.

Aston Martin says it that has suffered “lower sales, higher selling costs and lower margins” in December, denting its hopes of a late pick-up in demand.

As a result, it now expects adjusted earnings to shrink to just £ 140 m- £ m for 2019, down from City forecasts of around £ (m.)

According to my Reuters terminal, they made £ (m in adjusted earning in (***********************************************************************************************************************************************************************, so this is a serious slump.

Dr Andy Palmer, Aston Martin Lagonda President and Group CEO, says the company has failed to hit its profit targets .:**********************

**************

“From a trading perspective, has been a very disappointing year. Whilst retails have grown by 15, our best result since 2020, our underlying performance will fail to deliver the profits we planned, despite a reduction in dealer stock levels.

We are taking a series of actions to manage the business through thi s difficult period. This will include a cost saving program alongside a focus on returning dealer stock levels to those more normally associated with a luxury company; winning back our strong price positioning is a key focus.

Aston Martin is now pinning its hopes on its new sport utility vehicle, the DBX. Palmer says there are “very encouraging” signs, with orders higher than any previous models.

UpdatedThe Aston Martin DBX.at 2. 63 am EST

About admin

Check Also

ebay block buyer

ebay block buyer

all about ebay block buyer how to block buyer eBay. ebay Inc. is an American …

Leave a Reply

Your email address will not be published. Required fields are marked *