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

Hamilton delighted with ‘consistently strong day’ in Vegas

Lewis Hamilton was particularly happy with his opening day of running at the Las Vegas…

7 mins ago

Verstappen stuck with 'draggy' rear wing for Vegas

Red Bull fears that its prospects for this weekend's Las Vegas Grand Prix - which…

52 mins ago

Ferrari and Mercedes admit to plank changes based on FIA’s TD

Ferrari and Mercedes have both modified their car’s floor element in Las Vegas to comply…

2 hours ago

Las Vegas GP: Hamilton continues on top in second practice

Lewis Hamilton put Mercedes on top of the timesheets for the second time in Las…

2 hours ago

2024 Las Vegas Grand Prix Free Practice 2 - Results

Full results from Free Practice 2 for the Las Vegas Grand Prix at Las Vegas,…

2 hours ago

Leclerc confident Ferrari ‘has a shot’ at F1 Constructors’ title

Charles Leclerc believes that Ferrari has a genuine “shot” at beating rival McLaren to Formula…

3 hours ago