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AML now has great products, but as everyone who’s ever run a business knows, in the end it’s all about cash and having great products and services to sell is no guarantee of success. IMO the worst is in the ‘rear view mirror’, but cash management is crucial now (which may or may not require a further cash raise, but that will be more like working capital than funding losses) as the business moves to being cash generative. Execution risks remain, but this is now a completely different proposition.
There is me mention of when cars will be sold, “by the end of 2024” is what all are saying.
That’s a long time to wait with 79m cash left.
Ok, load another 100m on the credit card, net debt increases again.
I wonder how the rating agencies will see that.
Same old AML.
New models and all their teething problems costs money.
The db12 alone added 200m to the debt.
Has the Answerisno dropped his guard, maybe C26 forgot to check which ID he was emailing from!
I should add even SSO aka Karenable recognises that cash isn’t a problem until Q4 and that’s only if the new models don’t sell well and if there is any production issues.
Plus 170 million in revolving credit facility which is specifically there to cover cash requirements until revenue from new models is recieved.
Absolute rubblish, peoples always choose Ferrari. End
The timing is crucial….
There is article from Bloomberg by Hannah Elliott 14/5 08.10am…. Time will tell but I am certainly each month getting better and AM just got our King royal warrant…..
Hope it going be slowly getting better.
Oh yeah, Q2 ends sooner than I thought.
Yes Chesil , let's load up more credit/debt on the balance sheet, that's working well so far?!
The whole reason AML share price is awful, is the debt. £1.2bn, more than the current market cap.
The board promised a better deal, but net debt has increased 20% in 3 months.
If he’s still talking about cash, he also doesn’t take the 170 million credit facility into account.
Actually, only £79m cash left in 6 weeks, end of Q2 is end of June.
C26 is right, but misses the point. Things have changed. It’s now all about timing. The business now has cars which people want to buy and which generate a decent margin. The business needs cash to give them the runway to manufacture those cars and sell them to generate more cash to pay down debt and grow. That’s a completely different proposition from what shareholders have endured since the IPO.
Yes, and all of that costs LOTS of money AML doesn't have.
229.6 million cash left at end of Q1.
Q1 cash burn was £192.4.m
Q2 cash burn due to be £150m
Therefore £79m left in 3 months, not enough to cover all liabilities
Thanks Noah, lots of positive articles out yesterday about the new Vantage. DBX launch next, followed by Vanquish then news about the new special.
Worthwhile watching Steve Sutcliffe review the new Vantage on Utube. He'd choose it above the Porsche 911 Turbo. There's no higher praise than that. He who waits...........................l
Ches,
There is good reading at CITYAM article today - changed from Sport Car to super cars 👍.
Nice to see the range getting positive reviews which was a big issue for me overall. Now it is down to execution and in view of that I am happy to hold and add on any dips ahead of further trading statements.. looking far more positive from a business perspective. I just ignore the usual haters and hence the green bars are back I see.
What's your average here Tim (NDB)!!!!
What's your average here Noah?
C26,
Increased on 2nd May to .52 from .49.
Been on LSE for days days and YOU KNOW IT for some reason you bring up today!!
But yes it increasing….
New shares come out today.
229.6 million cash left at end of Q1.
AML said themselves Q2 would be similar to Q1, so 192.4 million GBP cash outflow, minus interest 42.6 million because it has been paid already in Q1.
That means burning through c.150m this quarter.
229 (cash left) - 150 Q2 (cash burn for Q2) = 79 million.
That is not enough to cover all liabilities.
Cash raise. Incoming. Driven.
In deepest darkest Africa!!!
I was hoping you’d still be in hospital having your phone removed from your backside!
🤷🏼