, said it expects profitability to improve this year and to turn free cash flow positive in the second half as it begins deliveries of its next-generation sports cars in the third quarter.
“Aston Martin has been held back by logistics and supply issues, like many of its automotive peers. That’s kept a lid on volumes, but the engines are now firing,” said Sophie Lund-Yates, Lead Equity Analyst at Hargreaves Lansdown.of about 7,000 units for 2023, slightly below average market expectations of 7,134, but its outlook of for an adjusted core profit margin of about 20% came in ahead of analysts' average view.
“Fourth quarter wholesales have jumped, which shows that underlying demand is still strong. An average selling price well above £150,000 also shows how untouched Aston Martin’s core customer base is from income pressures and tough inflationary conditions,” said Lund-Yates.grew 26% to 1.38 billion pounds last year, chiefly because of higher prices. Its core average selling price in 2022 rose 18% to 177,000 pounds.
The British company reported a bigger adjusted operating loss of 118 million pounds for the year ended Dec. 31, compared with a loss of 74.3 million pounds for the same period a year earlier, because of supply chain snarls that delayed deliveries of its cars.Concerns about prospects of COVID vaccine maker Novavax sink shares
Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, Nov. 27, 2021.