The financial metrics behind the downgrade from Fitch to CCC+ match our thinking. We believe a further cash injection will be needed and
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The Q3 and updated FY25 numbers are a little above our recent model update. For now, we are not altering our model and still expect new cash will be
Read MoreThe downgrade to CCC+ will restrict some investors; however, the overall impact is small. Management has already highlighted that some
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The profit warning is primarily driven by lower volumes, following a weak Q2 and a significant deceleration in sales in Q3. However, the group ended Q3 with
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Volumes were below our expectations, and the shift away from Specials deliveries meant that gross margin fell from 39% to 28% in H1. Given the target of
Read MoreThe refusal to supply under a contract is a serious step for a supplier. However, Aston Martin is now receiving the parts, and production has
Read MoreAston has resumed exporting cars to the US, indicating that pre-tariff inventory is now exhausted. Our forecasts already have
Read MoreAston Martin remains vulnerable to further shocks in the US, but we expect the risks to be receding for now. The potential impact on
Read MoreWhen equity has fallen so significantly, paying more cash becomes inevitable to attract the best senior executives and
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Q1 was as weak as the guidance given in the FY results. We are not changing our FY forecasts yet but will update after the 0830 analyst webcast. Volumes were
Read MoreAs tariffs continue to influence market dynamics, we've taken a comprehensive look across our coverage to highlight the names most likely to be affected. For full transparency, we've also included those that remain unaffected—it's just as important to understand where the impact isn't being felt.
The idea here is
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Yew Tree is contemplating taking its stake in AML as high as 35%, which would require approval from the rest of the shareholders not to seek a
Read MoreRaising an additional £125m in cash will plug any hole in Aston’s liquidity before it emerges. The sale of the minority stake in the
Read MoreAttracting a CEO from Bentley is a coup for Aston Martin (AML) and underlines the transition from a turnaround story. We saw Amedeo Felisa as an
Read MoreThe coupon for AML’s refinance will irritate Lawrence Stroll, but getting the deal away successfully allows management to focus on
Read MoreWith coupon guided at 10%+ on the $, the fall in cash interest from the refinancing will be modest. The company is expecting to be free cash flow
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