LONDON (dpa-AFX) - Aston Martin Lagonda Global Holdings plc (AML.L) announced that Preliminary revenues for the 12 months to 31 December 2019 fell 9% to £997 million from £1.096 billion in 2018. Total wholesale volumes for the year also declined 9%.
Loss before tax widened to £104.3 million from £68.2 million in 2018. Loss per share was 49.6 pence, versus loss of 31.0 pence last year.
Andy Palmer, Aston Martin Lagonda President and Group CEO said, '2019 was an extremely challenging period for the Company. While retail sales grew, we were unable to generate the revenue and profits we had originally planned and today report a 9% year-on-year revenue decline alongside an operating loss of £37m.'
For 2020, the company expects Sports car wholesales to be materially lower than in 2019. The company expects this year's capex to be c.£285 million.
The company also announced that Mark Wilson will step down as Chief Financial Officer and as an Executive Director no later than April 30, 2020.
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