Aston Martin cuts full-year DB12 volume outlook

(Sharecast News) - Aston Martin Lagonda posted a wider-than-expected third-quarter loss on Wednesday as it downgraded its volume outlook for the DB12 model. In the three months to the end of September, the adjusted operating loss narrowed to £48.4m from £55.5m in the same period a year earlier, but came in worse than expectations of £37.5m. Meanwhile, revenue ticked up to £362.1m from £315.5m.

The luxury car maker backed its full-year guidance but made some changes to the volume outlook due to initial delays to the DB12 ramp-up in the third quarter.

AML said it remains on track to achieve its financial targets of around £2bn revenue and £500m adjusted EBITDA by 2024/25.

However, it now expects year-on-year growth in DB12 volumes to 6,700 units for 2023, down from around 7,000 previously.

"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," it said.

"Demand is very strong, with DB12 orders into Q2 2024 and production is now running at the rates required to meet our volume expectations for the year."