F1 News, Reports and Race Results

Aston Martin F1 significantly reduces loss for fiscal year 2023

The Aston Martin Formula 1 team reported a £25.3 million post-tax loss for its fiscal year 2023, a significant improvement over the previous calendar year.

Although AMR GP Holdings’ post-tax position improved by nearly half compared to the previous year, revenue saw a substantial increase.

In 2023, Aston Martin reported total revenue of £260.1 million ($346.52 million), an approximate year-over-year increase of 39 per cent, according to Companies House.

Operating costs for the business also rose, though at a much slower pace, reaching £171.07 million ($227.83) last year—an increase of just under £20 million ($26.64 million) compared to 2022.

Aston’s operating loss narrowed significantly from £52.8 million ($70.34) in 2022 to £17.2 million ($22.91 million) in 2023.

As a result, the company's year-end position improved, with a post-tax loss of £25.3 million ($33.71), a significant improvement over 2022 when it recorded a £52.979 million loss.

Read also:

While most Formula 1’s teams are profitable businesses, Aston is an outlier mainly due to the significant investments made by Lawrence Stroll's company as part of its massive infrastructure build-up at its new Silverstone Park headquarters.

The F1 team’s state-of-the art factory was also an important factor in helping Aston secure the services of legendary F1 designer Adrian Newey who will join the team in the first quarter of next year.

Aston Martin's total assets are now valued at £243.77 million ($324.76 million).

Aston Martin F1 executive chairman Lawrence Stroll.

“The Group’s success is measured by its performance in the Constructors’ and Drivers’ World Championships and by reference to the financial parameters defined by its shareholders,” stated Aston Martin’s full-year report.

“The Group’s strategic objectives are to optimise its performance in the Constructors’ and Drivers’ World Championships, to build a team capable of competing to win both Championships within the next five years, and to diversify the Group into non-Formula One sectors through utilisation of our Formula One technology and insights.”

Keep up to date with all the F1 news via Facebook and Twitter

Michael Delaney

Recent Posts

Alpine double-podium in Brazil could deliver $30 million windfall

Alpine’s remarkable double podium at the São Paulo Grand Prix with Esteban Ocon and Pierre…

12 hours ago

F1i's Driver Ratings for the 2024 São Paulo GP

Alexander Albon, Williams (Did Not Start): 5.5/10 Alex Albon is definitely going through something of…

13 hours ago

Jos Verstappen rips British media after Brazilian Max fest

Jos Verstappen wasted no time after his son spectacular win at the São Paulo Grand…

15 hours ago

Leclerc left with ‘mixed feelings’ after disappointing Sao Paulo GP

Charles Leclerc's weekend in Sao Paulo was unfortunately a stark contrast to Ferrari's recent triumphs…

16 hours ago

Back when Kimi knew exactly what he was doing

Twelve years ago on this day, Kimi Raikkonen took a popular win at the 2012…

18 hours ago

Mercedes fined for starting grid tyre pressure infringement

The Mercedes team was hit with a fine by the FIA after Sunday’s Sao Paulo…

19 hours ago