RE: Aston Martin’s FY 2023 Results: Turtle Flambé5 Mar 2024 05:08
Ref. this write-up (karenable), what’s in the title ‘turtle flambe’ is not impressing me (and I wouldn’t eat it, either). When thinking of the new Vantage and the DB12, I feel anything but 'turtle'.
Likewise, if you run your own, private and self-funded (?) website and post an article that is full of negativity, then better do get all your numbers right. He doesn’t:
His “… AML’s total debt pile (Net Debt + Trade & Other Payables + Customer Deposits) is around £2 billion.” is just wrong as the ‘customer deposits’ are already included into ‘trade & other payables’ (see annual report 2022 page 199) and you must not count them double. When taking out £250m for the customer deposits then even the revised number for debt pile is debatable as you could argue you’d also have to include the receivables once you count in the payables (as he does) and that's another £322m to take out. So, wrong again.
I reduced my holding yesterday and bought back lower. Any cash raise should it come or not is increasingly priced in.