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Something else I called way in advance, it takes 6-8 weeks MINIMUM to build a Valklyrie. That means over 5 YEARS to build them all.
WHere';s the cash coming from to buy the bonds back Lawrence?
You know when he stresses something so much it's probably exactly the opposite.
Just like last time he promised no fundraising then promptly raised £77 more.
Liar through and through.

https://www.ft.com/content/abf7d63d-d1e9-4eaa-8a29-3cbf817a7d92

Moers said the carbon fibre tub that formed the body of the car, which arrives at Aston’s Gaydon factory ready-made, takes between six and eight weeks to manufacture. “It takes weeks, almost months,” he said at the plant.

Richard, then share the information with us all then.
Same goes for your sales projection this year, 7000 cars with an ASP of £200k.

Because everyone remembers you having the most 'excellent source' that the Valkyrie would be delivered in Q3 last year and look what happened to that. It's still not fully functioning.
Either you are a liar and make things up to suit your own agenda, or you share the source of your findings.
Simple.

Posted in: AML
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Price: 1,887.00
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Valkyrie18 Jun 2021 18:04
I noticed there were some comments referring to Valkyrie and delivery dates yesterday. I think I've mentioned I filtered long ago one or two of the reactive posters on here - utter waste of space and they remain forever filtered. From an impeccable source and to set the record straight, Valkyrie deliveries are expected to commence in Q3 with majority in Q4 as per weighting of profit guidance for the year. So effectively as previously stated.

Oh dear, You said it this afternoon. ;)

I asked how they are gong to buy the debt back and you replied with this...
RE: DebtToday 16:25
"They have 420 million in the bank you clown!"

You just spout whatever comes into your tiny mind without even thinking, or remembering.

Then when I proved they can't use the cash because it has to cover liabilities, you said "selling more cars". Simpleton ideology.
I've given you the fact that £500m ebitda in 2025 only makes AML around £10m actual profit when selling 10,000 cars at an average of £200k each after deductions.

So I'll ask you again, Stroll claim he can buy the bonds back to help the balance sheet.
Where is the cash coming from to do so?

Tiny, you said they could use the cash balance to buy the bond debt back, and were completely wrong on that.
You never clarify anything you say with numbers, so it's pure conjecture.

I've shown everyone here the numbers which Stroll himself claims, and not one single person has proven me wrong with numbers/facts.

That tells the readers all they need to know.

Richard, give us a breakdown of those 7000 cars and your average price per car please.
Otherwise it's just numbers in your head.

Stroll's target is: 10,000 cars at 200k per car, EBITDA £500M in 2025.
Take off the deductions and you are left with £10m profit, and that's the target in 2025.
If you guys want to prove me wrong, then come up with some figures and FAST.
otherwise everything you say is pure made up rambling nonsense.

"If things are that bad, why are the directors pumping so much of their own money in?"

Piciotto started buying at £19 and is close to £2m down.
The recent fund doubled their stake from 5% to 10%, Stroll and Moers buy shares and the SP is still dropping.
Care to take a guess at WHY?

"Just a a guess but.......... selling cars?"
They are selling cars right now, and making honking losses. IN fact they have been doing that for the most part of 109 years.

"Rich people and banks keen to lend us money?"
Like they did 2 yerars ago when Stroll took out the bonds at ridiculous interest rates?

It's too easy TinyPie

Nice links Vorlich, I particularly like this quote from stroll:
"How can you have an Aston Martin that sells for £150,000 with three-year-old technology? It is a silly thing the previous management agreed to," said Stroll.

The DBX 707 still has that tech inside it doesn't it Lawrence?
And it costs almost 200k. chortle.

First 9 months of 2021:

Revenue was £736.4m
Loss was £188m before tax.

Extrapolate that for full year:
Revenue of £981m
Loss of 250m

So let’s say revenue of 1bn equates to a loss of 250m.
Now look ahead to….

2022:
Interest charges = £165M
CAPEX and R&D = >300m

That’s at least £465m in deductions in 2022 alone.

6000 sales at an average price of say £160k (that’s higher than the most recent ASP of 150k) equates to £960m
That’s the same revenue as 2021.
Expenses are RISING! Interest rates are going up, as is Capex and R&D.

2022 will be another train wreck, losing close to 250m.
Then you have the court case decision too.
Where is the cash coming from Lawrence?

I'll ask again, how can they use the £420m when they need it to cover current liabilities?
Do you know how much the current liabilities are Tiny?
Nope. Not a clue.

That £420m has to cover liabilities.
So tell me how you can use that money when it needs to cover other things?
And you call me the clown.
This is why the CFO left.

This article was written in January 2020.
Net debt then was £385m.
Today it stands at £808m.

Way to go Stroll!

https://www.ft.com/content/166bd7a9-7849-4503-b779-92b38f561c5c

Jed, you are bang on.
We are sole voices of reason here compared to all the rampers who have no clue about a balance sheet

A loss making company who cannot even pay the interest on the bond debt wants to pay off the bond debt, it's hilarious. With WHAT?

When they raised the bond debt they had cash in the bank, It ran out now they are running down the deposits from Valkyrie. They burn through cash at a crazy rate, with bond interest at an average of 12.5%, it's hilarious.
This is why the CFO left, sick of Stroll's utter negligence, ineptitude and ego.
Stroll thinks if he says it enough in the press it will happen.

Tell you what Lawrence, try asking the bondholders now if they will take a smaller payment (even although the net debt has increased and interest rates are rising, inflation running at 7% etc) since they agreed on the bonds. They will point towards the clause in the contract saying how much you owe them for cutting short the bonds. Then you're back in your tiny little box.

How's he going to pay it off Tiny?
His goal is £500m ebitda in 2024/25.
Minus bond interest, interest rates on other debt, R&D etc he is left with £10m even if he hits his target of 10,000 sales at an average price of £200k.

The bonds costs something like £75m to finance. So it would costs you that again to refinance, PLUS the cost for cutting short the current bonds.
WHERE IS THIS MONEY COMING FROM when you don't make enough profit to cover the interest on the current bonds (£165m per annum)?

So, can anyone here show us how Stroll is going to refinance please?
Cash positive in 2023 haha, don't make me laugh. The man is an absolute lying charlatan, complete sociopath who says anything that suits his agenda.
The free market always finds them out.

Remember his promise the Valkyrie would be delivered in Q3, 2021.?
Remember him quoting no more cash raises only to raise £77m in bonds Feb 2021?

https://www.ft.com/content/52d0de4b-b077-49f0-b659-c75cc6eb6472

Aston's reported EBITDA is completely fake - the real EBITDA is deeply negative. The main reason for this is that they capitalise 95% of R&D, which makes no sense. Ferrari capitalises <50%. Most other OEM globally capitalise c. 50%.
So their real EV / EBITDA ratio shows the equity is still grossly overvalued. There is no way this business is worth more than £1bn even with the DBX up and running, yet the debt stack is already almost £1.3bn and costs £165m per year.

That will be increasing too, with interest rates going up across the world.

It's a fair point Jed.
I've been saying it for months though. When you hear it from Stroll's mouth it'll be too late.

Stroll is an absolute idiot. He was the one who took on the bond debt, 100%.
Now he realises it was an idiotic move at the highest interest rates anyone has ever seen, literally eye watering. He could have lent us the money himself and taken 6% and shareholders would have been happy.
He quickly forgets his bond for the F1 got canned becasue no-one would touch him.
Why would bondholders suddenly accept a decline in interest rate now? Utterly deluded.
Now he things he can just refinance. Tell you what Lawrence, why don;t you lend us the money at half the rate and everyone is happy?
We all know why, you don't want the risk of bankruptcy, same ad the bondholders.
What a nugget he is.. Should have stuck to chinese handbags.

“I will be renegotiating the bonds at a more favorable rate, probably, and taking some cash to pay down” part of the debt, Stroll told reporters

Aston Martin had net debt of 809 million pounds ($1.1 billion) at the end of the third quarter, and expects interest costs of 165 million pounds in 2021, it said in November. A year ago, the company raised $98.5 million in Senior Secured Notes due in 2025 with a 10.5% coupon. These notes come with a four-year call protection, meaning refinancing the senior debt will come with a penalty.

How else are they going to do it?

It's dropped 90% since the IPO if you want to go further back.
And massive dilution to boot, shareholders have been drowned in dilution, where's the equity and shareholder worth now?
Stroll doesn't care about the small shareholders, all he cares about is his son winning F1.