By Nina Kienle
Aston Martin posted a narrowed pretax loss for the first quarter, and said it signed a 50 million pound ($67.6 million) funding deal with Yew Tree Consortium, the investment vehicle of Executive Chairman Lawrence Stroll.
The funding deal, together with the recent sale of the Aston Martin F1 naming rights to AMR GP, increased the British luxury sports-car maker's available cash to about 230 million pounds at the end of the first quarter, it said Wednesday.
The London-listed company posted a pretax loss of 65.5 million pounds, compared to the prior year's pretax loss of 79.6 million pounds, an improvement as it continues to grapple with a host of challenges like higher U.S. tariffs and changes to China's luxury car taxes.
While there hasn't been a material direct impact to the business in the first quarter as a result of the conflict in the Middle East, the carmaker continues to monitor the situation, it said.
In morning European trade, shares are up 1.4%, at 40.50 pence, having risen more than 6% at market open.
Revenue rose by 16% to 270.4 million pounds, missing analysts' forecast of 286 million pounds, according to consensus estimates provided by the company. The company benefited from higher average selling prices and deliveries of its Valhalla model.
The group delivered total wholesale volumes of 939 vehicles, down from 950.
Adjusted loss before interest and taxes amounted to 56.9 million pounds compared to a loss of 64.5 million pounds in the prior year's period.
Aston Martin narrowed its operating loss to 8.9 million pounds from a loss of 67.3 million pounds.
"The first quarter confirms that we are on track to deliver material financial improvement this year," Chief Executive Adrian Hallmark said. This is expected through the expansion of the core model range, continued Valhalla deliveries and continuing operational discipline, he added.
The company reaffirmed its guidance for 2026.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
04-29-26 0446ET
