Formula 1 is not just on the track, it's the same zamIt is now the scene of a gripping struggle in the financial arena. Aston Martin announced the loss of 2022 million dollars in the 53 season. Although this exceeds the turnover from sponsorships and awards, it is a result of general cost increases.
Restructuring and Financial Situation
After completing its restructuring process, Aston Martin now operates under AMR GP Limited, a subsidiary of AMR GP Holdings Limited. However, interestingly, the financial figures of these two organizations are exactly the same.
Increase Reflected in Turnover
Aston Martin, whose turnover was 2021 dollars in 150.438.000 and increased to 2022 dollars in 188.728.000, has financially strengthened its presence in the racing world. However, behind this increase lies a huge cost.
Total Sales Cost and Loss
The team's total cost of sales to compete increased from $2021 in 107.735.000 to $2022 in 152.046.00. When other revenues, such as administrative expenses and government grants, were also calculated, a loss of $2022 in 52.915.000 emerged.
Personnel Expenses and Growth
The group's total personnel expenses increased by approximately 10% compared to the previous year, reaching $54.983.000. Aston Martin's continued growth sees its total number of employees reach 504.
Investments and Expenditures
Aston Martin has made significant investments in its new facility at Silverstone. As of December 31, 2021, capital expenditure of $1 has been committed to the development of the Aston Martin F64.985.490 Campus.
Marketing Contribution and Payments to Lance Stroll
Aston Martin Lagonda's marketing contribution to the F1 team was determined as 844.000 pounds, decreasing by 19.208.000 pounds compared to the previous year. Additionally, the team's payout to Lance Stroll was recorded as $2021 lower than in 225.000.
Conclusion
Aston Martin has had a financially difficult season in 2022. Although they increased turnover, increasing costs and high investments dragged the team into a loss of $53 million. However, it is important to remember that this situation is only temporary and is part of strategic investments for the team's future success.