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The Aston Martin Formula One team have filed a UK£53 million (US$64.96 million) loss for 2022.
Confirmed:
- Turnover increased 25 per cent year-over-year (YoY) to UK£188 million (US$229 million)
- Losses rose 23 per cent YoY between 2021 and 2022
- Gross profit decreased from UK£42.7 million (US$52.04 million) to UK£35.68 million (US$43.48 million)
Context:
Aston Martin signed numerous partnerships during 2022, including Hugo Boss, XP and Porto Seguro, with revenue increasingly significantly thanks to the team’s commercial activity. Aston Martin also finished the first phase of its US$276 million factory, but investment will continue in 2024 to fully upgrade the facilities.
Coming next:
Forbes’ recent study estimated that Aston Martin hit US$290 million in 2023 revenue and these figures add credence to those estimates. It highlights the financial health of Formula One teams at the moment, even in light of Aston Martin’s UK£53 million loss. The team’s increased losses reflect the first season of new regulations, something that is likely to level out, especially with the expected increase in prize money coming this year thanks to its improved performance on the track.