RE: Shorttracker8 Mar 2023 16:03
Still the same rampers on here I see.
Stroll said: “Let me be crystal-clear, black-and-white: we do not need money.” In Feb 2022.
He then raised £653m in November 2022, admitting the capital raise had been months in the making, so lied about not needing funding.
AML have burned through 80% of this cash already already…. by March 1st: 4/5 MONTHS!
Where has the cash gone? Interest payments and new car models, like I said, £200m per new car design minimum. 3 new cars coming out, no way will they all be out in 2023.
I See Valhalla is pushed out to 2024 now too, another things I was correct on.
Gross debt has actually INCREASED to £1.35 BILLION,
Imagine raising 653m and gross debt increases, haha.
The interest payments on this debt are:
£139m in cash, and £156m negative FX on the balance sheet as they stupidly took it out in dollars
Thus stupendous debt is currently costing AML £295m per year.
I remember asking everyone here how AML would be profitable on 10,000 car sales, 2bn turnover and £500m EBITDA, as Stroll promised….and no-one could do it. Now Stroll is back-peddling from this target and saying 10,000 in the ‘coming years’.
Try doing the math on 7,000, or 8,000 cars.
Faith and hype over substance.
Loading dealers up in Q4 to hit your targets is desperate, DBX is a flop, even with the 707 in the mix. No mention of the China only version, another failure.