Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "AML.L"


23 mentions found


REUTERS/Thomas Peter/File Photo Acquire Licensing RightsNov 1 (Reuters) - British luxury carmaker Aston Martin (AML.L) posted a wider-than-expected quarterly loss on Wednesday and lowered its 2023 volume outlook due to production issues for its new sports car DB12. Aston Martin started delivery of its next-generation sports car DB12 last quarter, and expects its 2023 volume to come in at 6,700 units, from an earlier forecast of about 7,000 units. "Given the initial delays experienced with the DB12 ramp up during Q3, we have marginally updated our FY volume outlook as the impact limits production capacity for the full year," the company said in a statement. The London-listed company, which retained the rest of its 2023 outlook, reported an adjusted operating loss of 48.4 million pounds ($58.82 million) on revenue of 362.1 million pounds in the three-month period ended Sept. 30. Analysts on average had expected an adjusted operating loss of 38 million pounds on net revenue of 370 million pounds.
Persons: Aston Martin, Thomas Peter, AML.L, Yadarisa, Sherry Jacob, Phillips Organizations: REUTERS, Thomson Locations: Beijing, China, London, Bengaluru
Aston Martin flips from cash-guzzler to carmaker
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Aug 1 (Reuters Breakingviews) - Aston Martin Lagonda (AML.L) is making a painful transition from cash-guzzler to viable carmaker. A 216 million pound cash call on Monday brings its total capital raised since 2018 to just under 1.8 billion pounds. By this year, Aston Martin will have grown revenue by 13% per annum since 2019, according to Refinitiv data, thanks to new models like the DB12 and higher prices. Aston’s current enterprise value is just under 2 times forecast 2024 sales, a discount to Porsche, and far below Ferrari’s (RACE.MI) more than 8 times multiple. Yet Aston still needs to show it can make an electric vehicle, with the first due in 2025.
Persons: Aston Martin Lagonda, James Bond, Lawrence Stroll’s, Aston Martin, Aston, Neil Unmack, Steve Cohen, Liam Proud, Oliver Taslic Organizations: Reuters, Public Investment Fund, Porsche AG, Porsche, Twitter, Sequoia, Thomson Locations: Japan, India
Aston Martin races past second quarter expectations
  + stars: | 2023-07-26 | by ( Yadarisa Shabong | ) www.reuters.com   time to read: +2 min
[1/2] FILE PHOTO-Employees work on a car at the Aston Martin factory in Gaydon, Britain, March 16, 2022. Aston Martin kept its 2023 forecast for volumes of about 7,000 vehicles and an adjusted core profit margin of about 20%. Aston Martin reported an adjusted operating loss of 38.9 million pounds ($50.2 million) and revenue of 381.5 million pounds in the quarter to June. Analysts on average had expected an adjusted operating loss of 51 million pounds on revenue of 344 million pounds, according to a company-compiled consensus. Aston Martin said it was also on track to meet its medium-term financial targets.
Persons: Aston Martin, Phil Noble, Amedeo Felisa, Felisa, JP Morgan, James Bond's, China's Geely, Yadarisa, Savio D'Souza, Mark Potter Organizations: Aston, REUTERS, HK, Lucid, Thomson Locations: Gaydon, Britain, Bengaluru
UK's FTSE 100 slips on dour earnings; NatWest falls
  + stars: | 2023-07-26 | by ( Shashwat Chauhan | ) www.reuters.com   time to read: +2 min
The FTSE 100 index (.FTSE) lost 0.2%, while the more domestically focussed FTSE 250 midcap index (.FTMC) was flat. UK earnings season picked up pace with Lloyds Banking Group(LLOY.L), Britain's biggest mortgage lender, posting a pre-tax first-half profit below analysts' forecast compiled by the bank. The lender fell 2.7%, while the UK banks index (.FTNMX301010) slipped 0.9%. Rolls-Royce (RR.L) soared 19.3%, to hit its highest level in over three years after the aero-engineering company raised its full-year operating profit forecast. Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.
Persons: Royce, Aston Martin, Alison Rose, Nigel Farage, Georgina Cooper, Aston, Shashwat Chauhan, Eileen Soreng, Sohini Organizations: HY, U.S, Fed, Lloyds, NatWest, NatWest Group, BBC, Lloyds Banking Group, BNY, Equity, Rio Tinto, Royce, Dunhill, Tobacco, Aston Martin Lagonda Global Holdings, U.S . Federal Reserve, Thomson Locations: Rio Tinto, London, Rio, Bengaluru
Lucid shares drop as deliveries take hit from Tesla's price war
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: +1 min
July 12 (Reuters) - Lucid Group (LCID.O) said its second-quarter production dropped from the previous three months while deliveries stayed flat, sending the shares of the luxury electric-vehicle maker down about 6% on Wednesday. The Saudi Arabia-backed startup has been struggling to ramp up production in the face of supply chain issues, while a price war started by market leader Tesla (TSLA.O) in January has intensified competition. Lucid delivered 1,404 vehicles in the quarter to June 30, compared with 1,406 deliveries in the previous quarter. The company had trimmed its 2023 production forecast and reported a lower-than-expected first-quarter revenue in May as it took a hit from Tesla's price war and rising interest rates. The company said it would report financial results for the second quarter on August 7 after markets close.
Persons: Tesla, Lucid, Aston Martin, Akash Sriram, Arun Koyyur Organizations: Air, Elon, Saudi Arabia's Public Investment Fund, Thomson Locations: Saudi Arabia, Bengaluru
"This (deal) really kicks off that wing of the Lucid Group's business," CEO Peter Rawlinson told Reuters. Lucid's initial focus will be on providing high-performance, ultra-high voltage technology that would not be suitable for the mass-market, reflected in the Aston deal, Rawlinson said. However, he continued, its business licensing out parts should grow as the company moves to more mass-market models. Aston and Lucid share a common shareholder in Saudi Arabia's Public Investment Fund (PIF), but Rawlinson said the Saudi wealth fund played no role in the deal. "Aston Martin had options and they chose quite independently what they felt is the best technology available on the planet," he added.
Persons: Aston Martin, Peter Rawlinson, Rawlinson, Tesla, I'm, Aston, Nick Carey, Emma Rumney Organizations: EV, Aston, Reuters, Tesla's, Public Investment Fund, Thomson Locations: U.S, Arizona, Croatian, Aston, Saudi
June 27 (Reuters) - Aston Martin (AML.L) said on Tuesday it remained on track to report an adjusted profit of 500 million pounds ($636.7 million) by the fiscal year 2025. The Gaydon-based group said it expects to "substantially achieve" those financial targets in 2024 - including a revenue forecast of about 2 billion pounds - and added it is likely to exceed them in 2025. The company had posted an adjusted core profit of 190.2 million pounds for the year ended Dec. 31, 2022. The luxury car maker, which has marked 2023 to be the "peak year" of capital spend, in May had maintained its outlook for the current financial year, helped by strong sales of its sport utility vehicle DBX and higher selling price. ($1 = 0.7854 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Aston Martin, AML.L, Aby Jose Koilparambil, Nivedita Organizations: Thomson Locations: Bengaluru
Adding to uncertainty was the start of the second quarter's final week on Monday, weeks ahead of the financial reporting season. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. But Carnival (CCL.N) slumped 7.6% after the cruise operator forecast third-quarter earnings below Wall Street expectations. The S&P 500 posted 18 new 52-week highs and two new lows; the Nasdaq Composite recorded 53 new highs and 154 new lows. On U.S. exchanges 9.28 billion shares changed hands compared with the 11.62 billion average for the last 20 sessions.
Persons: Tesla, Aston Martin, Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Brendan McDermid, Powell, Goldman Sachs, UK's Aston Martin, decliners, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Pfizer, Aston, Dow, Nasdaq, Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, BMO, Investors, Independent, Alliance, Dow Jones, New York Stock Exchange, REUTERS, University of, Pfizer Inc, UBS, Ares Management, NYSE, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, New York City, U.S, New York, Bengaluru
June 26 (Reuters) - U.S. stocks closed lower on Monday, as investors were wary of making riskier bets after Russia's aborted weekend mutiny. Investors were uncertain about the implications of the rebellion by Russian mercenaries that raised questions about President Vladimir Putin's future. Growth stocks weighed the most on the main indexes, with Meta Platforms Inc (META.O), Alphabet Inc (GOOGL.O) and Tesla Inc (TSLA.O) falling sharply. With this uncertainty in mind Schleif noted that investors were taking some profits in growth stocks that had advanced sharply this year. But Carnival (CCL.N) slumped after the cruise operator forecast third-quarter earnings below Wall Street expectations.
Persons: Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Goldman Sachs, UK's Aston Martin, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, Nasdaq, BMO, Independent, Alliance, Dow Jones, University of, Pfizer Inc, UBS, Ares Management, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, U.S, New York, Bengaluru
SummarySummary Companies STOXX 600 off 0.1%Defence firms fall after failed Russian mutinyHealthcare sector drags STOXX 600German business morale weakens againJune 26 (Reuters) - European shares inched lower on Monday, led by healthcare, while defence stocks fell after an aborted weekend mutiny in Russia. The pan-European STOXX 600 index (.STOXX) slipped 0.1% as of 1600 GMT, extending losses for its sixth straight session. Shares of major European defence firms Leonardo SpA (LDOF.MI), Saab AB (SAABb.ST) and Rheinmetall AG (RHMG.DE) each dropped more than 4%, weighing on the European aerospace and defence sub-index (.SXPARO) which fell 0.9%. "It's too early to price something into the market, that's why the really limited move on defence stocks." The healthcare index (.SXDP) fell 1.1% and was a big drag on the STOXX 600 index, which has come under pressure on concerns about an economic slowdown from a potentially longer-than-expected global interest rate hiking cycle.
Persons: Vladimir Putin, Leonardo, Shanti Kelemen, It's, Germany's DAX, Aston Martin, Amruta Khandekar, Varun H, Dhanya Ann Thoppil, Richard Chang Organizations: Wagner Group, Leonardo SpA, Saab AB, Rheinmetall AG, G Wealth, Energy, Siemens Energy, Lucid, Cineworld, SBB, Thomson Locations: Russia, Ukraine, Europe's, British, Swedish
[1/3] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoJune 26 (Reuters) - British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its "high performance" technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. Smaller carmakers such as Aston Martin are more reliant on partnerships to make the transition. Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF).
Persons: Hyunjoo Jin, Aston Martin, Lucid, Aston Martin's, PIF, Aby Jose Koilparambil, Rashmi Aich, Barbara Lewis Organizations: REUTERS, Lucid, Mercedes, Benz, Aston, Public Investment Fund, U.S, Tesla Inc, Thomson Locations: Scottsdale , Arizona, U.S, Aston Martin, Saudi, Bengaluru
The blue-chip FTSE 100 (.FTSE) slipped 0.4%, hitting a three month low as the aerospace and defence sector (.FTNMX502010) lost 2.1% after fighters of the Wagner group attempted a mutiny in Russia over the weekend. "Defence stocks tend to benefit from bad news in terms of geopolitical tensions," said Christopher Peters, trading floor manager at Accendo Markets. Britain's biggest defence company BAE Systems (BAES.L) slumped 3.1%, dropping to the bottom of the FTSE 100. The more domestically-focussed FTSE 250 midcap index (.FTMC) also fell 0.5%, touching a three-month low. Among individual stocks, Cineworld Group (CINE.L) dropped 28.9% after the cinema chain operator said it will file for administration as part of a proposed restructuring plan.
Persons: Russia Cineworld, Aston Martin, carmaker Aston Martin, Wagner, Christopher Peters, JP Morgan, Shashwat Chauhan, Sherry Jacob, Phillips Organizations: Defence, U.S, EV, Lucid, carmaker, Accendo, BAE Systems, Lloyds, Bank of England, Bank for International, Cineworld, Thomson Locations: Russia, Bengaluru
Aston Martin pulls out of slow lane in EV race
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +2 min
LONDON, June 26 (Reuters Breakingviews) - Aston Martin Lagonda’s (AML.L) route to viability is a brain-teaser worthy of Q, James Bond’s quartermaster famous for turning everyday objects into whizzy tools. The 2.6 billion pound carmaker’s latest deal with $11 billion Lucid (LCID.O) shows the marque made famous by the fictional spy is, however, making progress. The deal with Lucid – majority-owned by the PIF, handily enough – will make Aston’s ambition to roll out its first electric vehicle by 2025 more credible. The deal sent Aston shares up over 9% in early Monday trading. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Aston Martin Lagonda’s, Q, James Bond’s, Aston, Lawrence, , Mercedes, Neil Unmack, George Hay, Oliver Taslic Organizations: Reuters, Jefferies, Public Investment Fund, Porsche, Mercedes, Benz, U.S, Aston, Twitter, Canada, Siemens, Telecom Italia, Vivendi, Thomson
Technology (.SPLRCT) and real estate sectors (.SPLRCR) were the other top gainers among the 11 major S&P 500 sectors. ET, the Dow Jones Industrial Average (.DJI) was down 19.60 points, or 0.06%, at 33,707.83, the S&P 500 (.SPX) was up 6.90 points, or 0.16%, at 4,355.23, and the Nasdaq Composite (.IXIC) was up 51.68 points, or 0.38%, at 13,544.20. Advancing issues outnumbered decliners by a 2.97-to-1 ratio on the NYSE and 1.37-to-1 ratio on the Nasdaq. The S&P index recorded 17 new 52-week highs and one new low, while the Nasdaq recorded 37 new highs and 67 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Tesla, Aston Martin, Jerome Powell, Randy Frederick, Charles Schwab, Goldman Sachs, UK's Aston Martin, Lockheed Martin, Sruthi Shankar, Johann M, Shinjini Organizations: Pfizer, Aston, Dow, Nasdaq, Technology, University of, Dow Jones, Pfizer Inc, Inc, UBS, Tesla, Ares Management, Lockheed, Northrop Grumman Corp, Raytheon Technologies, NYSE, Thomson Locations: Russian, U.S, Russia, Bengaluru
Aston Martin stock soars after $295 million Geely investment
  + stars: | 2023-05-18 | by ( ) www.reuters.com   time to read: +2 min
May 18 (Reuters) - Aston Martin's (AML.L) stock popped nearly 22% on Thursday, after the luxury carmaker announced a 234 million pound investment by China's Geely (0715.HK), that will see the automotive firm become its third-largest shareholder. Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll's Yew Tree, which is currently the Aston Martin's largest stakeholder, at 335 pence apiece and subscribe for another 28 million shares at the same price. Aston Martin shares, which closed at 231.2 pence on Wednesday, were trading up to 279.4 pence at 0727 GMT. "Our decision to increase our shareholding in Aston Martin reflects our confidence in the company's growth prospects, its technologies and its management team," said Geely Chairman Eric Li. The investment gives Geely a 17% stake in the company and entitles it to one board seat, behind number two shareholder Saudi Arabia's Public Investment Fund (PIF).
"There's clearly a lack of real strategy and it's not enough to just say we're going to cut costs. Vodafone Group Plc (VOD.L) earlier this week said it would cut 11,000 jobs globally over three years after it warned that a poor performance in its biggest market Germany would hit cash flow. The blue-chip FTSE 100 (.FTSE) rose 0.6%, reflecting an upbeat mood in global markets on hopes that Washington is edging closer to a deal to raise the U.S. debt ceiling and avert a default. Among other movers, luxury group Burberry Group Plc (BRBY.L) fell 6.2% as continued weakness in the United States overshadowed a stronger-than-expected fourth quarter sales driven by a rebound in China. EasyJet Plc rose 1% after the airline posted a first-half loss in line with its guidance.
[1/2] Employees work on a car at the Aston Martin factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil NobleMay 3 (Reuters) - British luxury carmaker Aston Martin Lagonda (AML.L) on Wednesday reported a narrower quarterly pretax loss and maintained its 2023 outlook, benefiting from the strong sales of its sport utility vehicle DBX and higher selling prices. Free cash outflow in the quarter stood at 118 million pounds, compared with 25 million pounds of outflow a year ago as it spent on the development of new sports cars and its electrification programme. Aston Martin said it expects 2023 to be the "peak year" of capital spend. Loss before tax for the three months to March 31 was 74.2 million pounds ($92.7 million), compared with 111.6 million pounds a year earlier.
While the Fed is widely expected to raise rates by 25 basis points at its policy rate announcement at 1800 GMT, the hopes of a pause in increases have grown after a banking crisis that has threatened to hurt economic growth. Lloyds Banking Group (LLOY.L) edged down 0.8% despite beating quarterly profit estimates, as the bellwether lender echoed rivals in maintaining its full-year forecasts. However, energy stocks (.FTNMX601010) were a drag, down 1.2%, tracking weakness in crude prices. Haleon (HLN.L) lost 3.8% as the world's biggest standalone consumer health business reported first-quarter profit below analyst expectations. Luxury carmaker Aston Martin Lagonda (AML.L) lost 2.2% after it reported a narrower quarterly pre-tax loss and maintained its 2023 outlook.
Chief Financial Officer Lutz Meschke, however, warned that supply chain issues, geopolitical strains and rising inflation still presented a challenge for the industry. Porsche AG, historically a huge money spinner for the Volkswagen Group (VOWG_p.DE), which owns 75% minus one ordinary share of the group, is targeting a margin of 17-19% this year with a long-term goal of 20%, it said in a statement. Porsche reported a 27.4% rise in annual operating profit to 6.8 billion euros on revenue of 37.6 billion, slightly undershooting a consensus 6.86 billion in earnings and 38.3 billion in revenue expected by 19 analysts polled by Refinitiv. The logo of German carmaker Porsche AG is seen before the company's annual news conference in Stuttgart, Germany, March 17, 2017. He also said the company was investing 20 billion euros in digitalisation in the next five years.
Aston Martin forecasts positive free cash flow in second half
  + stars: | 2023-03-01 | by ( ) www.reuters.com   time to read: +1 min
[1/2] An Aston Martin Valkyrie car is driven off the production line at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil NobleMarch 1 (Reuters) - Aston Martin (AML.L) said on Wednesday it expected to improve its profitability this year and turn positive free cash flow in the second half, after 2022 losses came in better than market expectations. The London-listed company forecast wholesale volumes of about 7,000 units for 2023, slightly below average market expectations of 7,134. The British company reported a bigger adjusted operating loss of 118 million pounds ($142.20 million) for the year ended Dec. 31, compared with a loss of 74.3 million pounds for the same period a year earlier. Analysts on average had expected adjusted operating loss to come in at 135 million pounds for 2022, according to a company-compiled consensus.
Aurrigo has developed a four-seater "auto pod" with no steering wheel or pedals for slow non-road routes such as on university campuses. The company has also designed the "Auto-Dolly" and "Auto-DollyTug" for airports and is working with Singapore's Changi Airport, its lead customer, to automate baggage handling. But Aurrigo's CEO said airports provide the perfect environment because all vehicles travel at low speeds. Aurrigo is currently talking to 80 airports about following Changi's lead and Keene said the typical airport will need between 300 and 500 dollies. The IPO raised only 8 million pounds ($10 million), but Keene said that should pay for the rollout of airport dolly AVs.
[1/2] An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry NichollsNov 2 (Reuters) - British luxury carmaker Aston Martin (AML.L) on Wednesday warned that higher costs from global supply chain and logistical disruptions would hurt its margins, and lowered its wholesale delivery volume outlook for 2022. "Whilst (supply chain issue) has created short-term impacts on our performance, I am confident that with the actions we are taking, we will exit the year in a stronger position to deliver on our goals for 2023 and beyond," Chief Executive Officer Amedeo Felisa said. The London-listed company now expects to deliver 6,200-6,600 vehicles this year from more than 6,600 vehicles forecast earlier. Reporting by Pushkala Aripaka in Bengaluru; Editing by Dhanya Ann Thoppil and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
UK pharmaceuticals stocks (.FTNMX201030) rose 1.2% after GSK (GSK.L) said it expects sales to rise between 8% and 10%, sending its shares up 1.2%. The blue-chip FTSE 100 (.FTSE) was flat, while the mid-cap FTSE 250 (.FTMC) fell 0.4% by 0934 GMT, dragged down by budget airline Wizz Air (WIZZ.L) after it said uncertainty for consumers rose. Third-quarter earnings among companies on the FTSE 100 have so far painted a mixed picture, as some firms performed better than expected as COVID restrictions eased globally, while some battled supply chain snags and surging inflation. British American Tobacco Plc fell 3%, to the bottom of FTSE 100, after Goldman Sachs downgraded its performance rating for the stock to "neutral". Reporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Total: 23