GAYDON, England, April 30, 2015 /PRNewswire/ --
- Investindustrial and Tejara Capital led a further £200 million in investment capital in the form of preference shares
- Enables production of DBX luxury crossover, building on range of iconic luxury sports cars
- FY 2014 revenues of £468 million and adjusted EBITDA of £66 million announced
Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of £200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan.
The additional capital investment comes in the form of £200 million of preference shares; £100 million of which were issued on 29 April 2015 with the remaining £100 million - already subscribed for - to be issued in the next twelve months, and will further expand the previously announced investment plan.
This major investment in new luxury models is at the core of Aston Martin's strategic vision. Under the plan, the company will expand into the luxury GT crossover market with the introduction of a new vehicle based on the DBX concept shown at the recent Geneva and Shanghai motor shows. With the addition of new model lines, the company's strategy will help drive future growth, always ensuring that Aston Martin builds the world's most beautiful cars that deliver true sporting ability with passion and refined luxury.
Aston Martin Lagonda CEO Dr Andy Palmer commented: "This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept, has generated interest far beyond our expectations. The additional investment announced today will allow us to realise the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history".
"Our shareholders have shown their strong commitment and confidence in the management team to execute the strategic plan." continued Palmer.
Separately, Aston Martin Holdings (UK) Limited today announces results for the 12 months ended 31 December 2014. In 2014 the company delivered full year revenues of £468 million and adjusted EBITDA of £66 million whilst simultaneously increasing its product development spend by 45%. In 2015, the company expects global demand for its luxury sports cars to remain high, whilst it continues to develop and expand its current range starting with first customer deliveries of the limited edition track-only Aston Martin Vulcan and the race inspired, Vantage GT12.
Notes to editors:
Founded in 1913, Aston Martin Lagonda is an iconic British sports car marque of unrivalled heritage that has entered its second century developing the strongest model line-up in the company's history. The company boasts state-of-the-art headquarters in Gaydon, UK, combining cutting-edge technology with hand-craftsmanship and traditional techniques. Each car embodies the essence of Power, Beauty and Soul. Aston Martin's strategic plan was detailed at the Geneva and Shanghai motor shows by Dr Palmer. The plan is a comprehensive strategy for the ongoing growth and development of the 102-year old luxury sport car maker and lays out the principle mid-term actions, particularly in the area of new product development that will drive the growth of the company.
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SOURCE Aston Martin