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Business F1: "The finance team has faced four crucial challenges to conserve cash, reduce the interest bill, turn a profit, and intangibles. Achieving that has left the management overstretched and overstressed, and Gregor was the first to crack”
"To ease the strain, Gregor was awarded a $100,000 bonus mid-way through 2021 but in the end he decided it was not worth the effect the strains of the job were having on his health. 54 year old Gregor has borne the brunt of the strain along with CEO, Moers”

Business magazine states Kenneth resigned because of the stress, and the expectation is a 750m(!!!) fundraise to help the balance sheet.

After drowning in dilution thus far, this is akin to waterboarding equity holders.

All data taken from results RNS and the following links:
https://www.ft.com/content/c3b1a209-865e-43b4-b860-10fe3d4da9b8
https://edge.media-server.com/mmc/p/vbdqg5se

2021 net debt of £892m which is 6.5 times earnings!!!!! Up 22% (or £165m) from £727m in 2020.
Only an 8% increase in sales expected this year, most of that increase will be DBX.
2 new models and only 8% increase?

Interest payments rose almost 130%!!!!!! to £171m in 2021, from £75m last year, and interest rates haven’t even really started rising yet.
"The group expects to pay a similar level this year, of which about £125m will be cash, Gregor added. Gregor on Wednesday confirmed the company still expected to lose money this year on the pre-tax level.
During the year, the company booked £71m from customer deposits on the open-roof version of its Valkyrie hypercar and for its Valhalla supercar"

Net outflow of deposits expected in 2022, but also hoping that 2nd deposits(?!) on Valkyrie Spyder and Valhalla ‘should' balance out the unwind of the deposits already taken for Valkyrie.
The deposit balance was £340m at the end of 2021!!!
That’s a lot of deposits that could be asked to be returned when depositors find out the Valkyrie does not work.
Also a lot of deposits that need unwound from the cash position on the balance sheet when the car is sold. Like I have been saying all along.
ash is not really cash, it's mostly customer deposits.

Valkyrie sales supposedly at around 75-90 for 2021, that’s double the rate at which the carbon fibre tubs can be produced, how?
Why was the promise of 3 per week made?
Stroll went in heavy, sounding very angry when asked this question by a super-nice/polite analyst.
Interesting to note he had returned to the earnings call, sounding rattled and nervous, saying the same things, and lying.
He kept saying they are the only company doing the Valkyrie type car, has he forgotten the AMG-one?

In 2022, AML hoping to increase ASP by 'double digit number', 10%, so £150k in 2021 should be around £165k ASP. It needs to be rise to £200k in 2024/25 to meet targets, how?

How do you get from 300 DBX to 5/6000 in 2 years? No-one answered that question.
This is a fundamental part of the growth. 2 new DBX models are expected to bring 8% growth, how do you DOUBLE it?

Stroll on the bonds: “We will be addressing this over the next 2 years" Haha, dodged it. They obviously can’t be renegotiated then, and we are stuck paying 13% average on them. Other bank loans etc will rise with inflation, cold be close to £200m per year in interest.

So income will rise slightly in 2022, debt will rise again as the loss will be similar to this year, which means the interest on the debt will rise too.

AML needs to DOUBLE DBX and GT Sports car sales in 2 years to hit their targets.
Wow, just wow. NO wonder the share price has halved.
More to come.....

https://www.investorschronicle.co.uk/news/2022/02/23/aston-martin-s-recovery-chugs-along/

Broker Panmure Gordon said it is discontinuing coverage of AML because it doesn’t see an investment case for the company’s shares until its balance sheet strengthens. This is hard to argue with.
The company needs to show meaningful progress in cutting debt to stand a chance of refinancing and lowering its interest burden. Otherwise, it may need to return to shareholders to tap them for more cash. Sell.

I am posting 'highlights' of the results soon, Dimi is more than welcome to critique them, as is anyone.
If you post, expect rebuttals. If you can't stand the heat, get out the kitchen.

I'll take back the 'charlatan' comment though, apologies Dimi, no need for name calling.

What's brave about posting on an internet BB behind a pseudonym?
My critique has nothing to do with whatever language he speaks, stop twisting it.
Funny how you both appear back here at roughly the same time, eh? ;)

Love the way a zig zag formation around 1070 covers just about every eventuality.
Same as tarot card readers, cover as many angles as you can.
Charlatan.

Farewell,
"Technically it can go down to £9.60"
It went down to £9, so way under 9.60, then you say in the next sentence it wasn't as bad as expected. Technically it was worse, so please excuse us if we think you are talking utter tripe.

I would advise anyone listening to be VERY careful about buying back into to ANY stock, for what it's worth.
There is going to be a lot of contagion over the next few days.

Oil price rise will feed inflation massively, it will hit double figures for sure, and won't be coming down any time soon as the Fed/BoE are caught between a rock and a hard place.
They can't raise rates to fight inflation because of market turmoil and overpriced equities.
I think there is 60-70% chance this will get a lot messier before it improves

As if a chart pay any attention to war.

You were warned and ignored it all Tiny. Only one person to blame, and that's yourself.
Take it on the chin.

Stille, the ignorant are always right... the SP has halved and down again today, but still they will be correct and I am totally wrong.

The Company is embedding the first tranche of technology from Mercedes-Benz AG into its product renewal and expansion pipeline. There are currently no plans to issue additional shares to Mercedes-Benz AG until early 2023.

https://karenable.com/the-saga-of-the-aston-martin-valkyrie/

When did they change it from Thursday to Wednesday?

Tomorrow, it's Thursday for results, no?

I agree Ishi.
It comes down to semantics. Stroll had to say they didn't 'need' any more cash. He knows how to support a share price, if a little late.
But what happens if it is 'wants' more cash to pay off some bond debt?

Like you suggest, raising £200/300m would take a big chunk off the debt load, after dilution the share price would probably react favourably, as that would mean AML could renegotiate the bonds to a more favourable rate.
AML's cashflow won't be enough on it's own.

The main thing is it's a good sign that they are not loading dealers with DBX, as it would be going the other way.

Good work, I meant to do that recently!
When you say 260-270. cars... you mean the full AML range, total?

https://www.ft.com/content/429230ab-a5fd-41fb-9fb7-c47d7ab0e465

We all want Aston to be the British Ferrari.
If Ferrari are so terrible, why would we want to be like them?

Stop with the primitive thinking and emotional reactions.