Q1 2026 Aston Martin Lagonda Global Holdings PLC Earnings Call Transcript
Key Points
- Aston Martin Lagonda Global Holdings PLC (AMGDF) reported a 16% increase in total revenue, driven by a 17% rise in average selling price (ASP) to GBP252,000, largely due to Valhalla deliveries.
- The company achieved a significant improvement in gross margin, increasing to 35% from 28% in the prior-year period, demonstrating progress towards their full-year guidance.
- Adjusted EBITDA increased by GBP28 million year-on-year to GBP23 million, reflecting improved gross profits.
- The company successfully secured all Q1 shipments to the US at a favorable 10% tariff rate, despite challenges with the new quarterly tariff quota mechanism.
- Aston Martin Lagonda Global Holdings PLC (AMGDF) enhanced its liquidity position with a new GBP50 million committed facility, improving total liquidity to around GBP230 million, providing additional financial flexibility.
- The company reported an adjusted EBIT of minus GBP57 million, indicating ongoing operational challenges.
- Free cash outflow in Q1 2026 showed only marginal improvement compared to the prior year, with working capital outflow offsetting benefits from EBITDA and reduced capital expenditure.
- The company faces risks related to global macroeconomic and geopolitical events, which could impact consumer confidence, demand, and supply chains.
- The UK market showed a 25% decline in wholesales, raising concerns about potential market weakness or stock clearance issues.
- The company does not currently have a plug-in hybrid electric vehicle (PHEV) in its core portfolio, which could be a disadvantage as competitors move towards electrification, especially in the SUV segment.
Good morning, all, good afternoon, all, and welcome to the Aston Martin Lagonda Q1 2026 results call. My name is Adam, and I'll be your operator today. (Operator instructions) Now, we'll now hand the floor to Douglas Lafferty to begin. So Doug, please go ahead when you're ready.
Thanks, Adam. Morning, everyone. Thanks for joining the call, as always, this morning for our Q1 2026 results. As ever, there will be time for a few questions after I've provided a short summary of our performance for the first three months of this year.
Overall, our Q1 2026 performance was in line with our guidance, and we maintain our full-year outlook. As you were all aware, we expected Q1 to be the smallest quarter of the year as we continue to focus on realigning stock levels through a disciplined approach to managing production and delivery.
This was achieved with total wholesale volumes similar to the prior year period, whilst core retail volumes were
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