After posting its first profit in a decade during the first quarter of the year, Aston Martin’s return to profitability shows no signs of backing out.
The British sports car maker reported a record half-year profit, with revenues almost doubling year-on-year to £410,4 million compared to £211,8 million for the same period last year, a very impressive increase of 94 percent.
During the past 12 months, the company’s revenues have exceeded the $1 billion mark for the first time in Aston Martin’s history.
“Aston Martin is accelerating financially with our third successive quarter of pre-tax profit,” said Andy Palmer, Aston Martin President and Chief Executive Officer. “Our improving performance reflects rising demand for our new DB11 model, as well as for special edition vehicles and the ongoing benefits from our Second Century transformation plan.”
Sales volumes rose by 67 percent during the first half of the year, to 2,439 vehicles, with orders continuingly rising in the UK, mainland Europe, the Americas and China. The average selling price per model, excluding special editions, has also risen by 25 percent to £149,000, mainly driven by demand for the DB11.
Aston Martin continues its product offensive with the launch of the twin turbo 4.0-liter V8 version of the DB11 and already has confirmed that its first all-electric model, the limited RapidE will enter production in 2019.
“The strength of our first-half results prove that our strategy is on track,” said Mark Wilson, Executive Vice President and Chief Financial Officer. “We exceeded our budget for the tenth consecutive quarter, giving us confidence that we will deliver a step-change in full-year performance.”
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