Alpine F1 team generated £26.2M profit in 2022

Alpine is struggling out on the track this season, but the French F1 outfit produced another healthy profit in 2022, with £26.2M of earnings – or approximately $31.6 M – added to the team's bottom line.

According to a report from Motorsport.com, the team's revenue for its fiscal year 2022 increased from £201,485,000 in 2021 to £249,038,000, which equates to a percentage gain of 23.6%.

Cost of sales increased by 21.6% year-over-year from £145,264,000 to £170,395,000.

The team stated that "whilst operations have been impacted by inflation, a second year of financial regulations coupled with a disciplined approach to cost control has led to an improvement in operating margin of 37%, resulting in an operating profit of £36.6m."

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However, although that number was some £9.5m higher than in 2021, net profitability was down by £2.9m relative to the previous year.

Alpine's accounts show that Renault's financial contribution decreased from £60.6m to £42.2m, a drop that reflects the team's healthy income from other partners, and especially from title sponsor BWT.

The head count at Enstone expanded from 820 in 2021 to 871 in 2022, with most of the team's new staff joining its administration department.

The team's financial structure underwent a slight change in 2022 with Genii Capital - which had retained a small interest in the team following its sale to Renault at the end of 2015 - selling its remaining stake to Renault.

As a reminder, Renault sold a 24% interest in the Alpine F1 team last June to a consortium of US investors - Otro Capital, RedBird Capital Partners and Maximum Effort Investments – that included Hollywood actor Ryan Reynolds.

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