AML.L - Aston Martin Lagonda Global Holdings plc
| Previous close | 429.10 |
| Open | 425.00 |
| Bid | 422.40 x 0 |
| Ask | 423.80 x 0 |
| Day's range | 420.00 - 442.92 |
| 52-week range | 4.50 - 1,374.40 |
| Volume | 699,694 |
| Avg. volume | 1,072,091 |
| Market cap | 950.64M |
| Beta (5Y monthly) | N/A |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -120.80 |
| Earnings date | 27 Feb 2020 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 1,849.11 |
- Bloomberg
Billionaire Stroll Becomes Frontrunner for Aston Martin Stake
(Bloomberg) -- Shares of luxury carmaker Aston Martin Lagonda Global Holdings Plc declined Friday, after people familiar with the matter said there’s waning interest from a potential Chinese investor to buy a stake.Zhejiang Geely Holding Group Co., the automaker backed by Chinese tycoon Li Shufu, is cooling on the idea of a deal with Aston Martin after holding some preliminary talks, the people said. Aston Martin shares fell 6.6% in Friday afternoon trading, valuing the firm at 1.04 billion pounds ($1.35 billion), after earlier dropping as much as 7.4%.Canadian billionaire Lawrence Stroll is emerging as the frontrunner to buy a stake in British manufacturer, according to the people, who asked not to be identified because the information is private. Aston Martin could decide on its plan of action as early as this month, the people said.Stroll has been discussing a potential investment of about 200 million pounds, Bloomberg News reported earlier. Aston Martin spoke to several investors about a potential capital increase as it makes a final effort to bring in fresh funding, the people said at the time.Geely already controls Sweden’s Volvo Cars and Britain’s Lotus Cars and has a minority stake in Daimler AG. It was examining Aston Martin primarily to find a technology-sharing deal to benefit businesses such as Lotus.Aston Martin needs at least 400 million pounds of fresh equity to keep funding its critical products, Jefferies Financial Group Inc. said in note to clients earlier this week.No final agreements have been reached, and the carmaker could fail to reach an agreement or decide against bringing in new investors, the people said. Representatives for Aston Martin and Geely declined to comment, while a representative for Stroll couldn’t immediately be reached for comment.The U.K. company, best known as the ride of choice for on-screen spy James Bond, has been battered by an industry downturn, uncertainty around Brexit and a lukewarm response to some models. Weaker-than-expected sales have forced the carmaker to scale back its sales volume targets.It is set to begin deliveries this year for the new DBX sports-utility vehicle that’s turned into a make-or-break product for the company. The $189,000 DBX sits at the heart of plans to more than double annual output to 14,000 autos by 2023.Raising fresh funds could help with the rollout of the SUV as well as lower debt levels, the people said. Aston Martin previously announced it has received 1,800 orders for the model, meeting a condition for the carmaker to obtain a follow-on loan for $100 million.(Updates with shares from first paragraph)To contact Bloomberg News staff for this story: Tommaso Ebhardt in Milan at tebhardt@bloomberg.net;Siddharth Philip in London at sphilip3@bloomberg.net;Aaron Kirchfeld in London at akirchfeld@bloomberg.net;Tian Ying in Beijing at ytian@bloomberg.net;Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Aaron KirchfeldFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Aston Martin White Knight Will Only Fund Months of Running Cost
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Relief for Aston Martin Lagonda Global Holdings Plc from a potential 200 million pounds ($260 million) of rescue money may only prove temporary unless the company finds a permanent fix to its cash burn.News on Friday that the troubled luxury carmaker is in advanced talks with billionaire Lawrence Stroll and China’s Geely Group to inject new funding triggered the biggest rally in its sterling bonds since April 2017, according to data compiled by Bloomberg. Stocks also soared 15%.That reaction may be premature. The potential 200 million pounds in new cash represents little more than half a year of capital expenditure -- it spent about 162 million pounds in the first half of 2019, according to an earnings statement.“It buys them time and helps management focus on improving execution rather than balance sheet issues,” said Olivier Monnoyeur, a portfolio manager at BNP Paribas Asset Management.Aston Martin warned last week its earnings will fall short of earlier forecasts following what Chief Executive Officer Andy Palmer called a “very disappointing year” in 2019. Flagging operational performance has underscored the need for new funds to finance the costs of running the firm and much depends on the success of a new SUV.The $189,000 DBX model is at the heart of Aston Martin’s turnaround plans, which include more than doubling annual output to 14,000 autos by 2023. Aston Martin has received 1,800 orders for the model, meeting a condition for the carmaker to obtain a follow-on loan for $100 million.The company is planning to issue new bonds. Under the terms of its debt, the new securities will need to be issued at a pricey 15% coupon, which would bring its total debt above 1 billion pounds.While the debt load is considerable -- between 6.9 and 7.6 times earnings, according to its trading statement last week -- debt is not due for repayment until 2022.“Aston needs a liquidity boost,” said Brian Studioso, an analyst at CreditSights. “While Aston has received sufficient DBX orders to draw up to $100m in delayed draw notes, an equity investment by Stroll and or Geely would further enhance the company’s financial flexibility and ability to see the DBX launch through to reap the incremental cash flows from the new SUV.”Talks with potential rescuers allude to a capital raise. The company however, has found its ability to harness equity capital hindered by a restriction on management’s power to issue stock of up to 5% of its equity without shareholder approval, Bloomberg reported in November.“If you look at the state of the share price, if you just do a rights issue you’re going to have a massive amount of dilution so you need to come up with something a bit more creative,” said Philippe Houchois, equity analyst at Jefferies.For bondholders, a proposed injection via equity raises some questions.“Debt holders will want to know if there is a discount on the new equity and what this implies for valuations, should the deal fail given high leverage”, said George Flynn, a managing director at Everest Research.\--With assistance from Siddharth Philip and Charlotte Ryan.To contact the reporters on this story: Laura Benitez in London at lbenitez1@bloomberg.net;Irene García Pérez in London at igarciaperez@bloomberg.netTo contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Chris Vellacott, Luca CasiraghiFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Bloomberg
Aston Martin Is Said in Last-Ditch Funding Talks With Stroll, Geely
(Bloomberg) -- Aston Martin Lagonda Global Holdings Plc is making a last-ditch effort to bring in fresh funding, with billionaire Lawrence Stroll closest to committing to buying a stake in the struggling U.K. luxury-car maker, according to people familiar with the matter.The Canadian investor and owner of the Racing Point Formula One team is in advanced discussions to inject about 200 million pounds ($260 million) as part of a capital increase by the automaker, said one of the people, asking not to be identified because the talks are confidential.Separately, Chinese tycoon Li Shufu’s Geely Group has held preliminary discussions about a possible investment in Aston Martin, the people said. Geely, which controls Sweden’s Volvo, Britain’s Lotus Cars and holds a minority stake in Daimler AG, is primarily interested in a technology-sharing deal that could benefit businesses such as Lotus, they said.Aston Martin’s profit warning last week underscored the urgency for the carmaker to secure new investors to help pare debt and finance the production of the DBX sports utility vehicle. The $189,000 DBX is at the heart of Aston Martin’s turnaround plans, which include more than doubling annual output to 14,000 autos by 2023. Aston Martin has received 1,800 orders for the model, meeting a condition for the carmaker to obtain a follow-on loan for $100 million.“We remain in discussion with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment,” Aston Martin said in an e-mailed statement over the weekend.A representative for Racing Point didn’t immediately respond to requests seeking comment outside of business hours. Geely declined to comment.Talks with various investors may not lead to a transaction and the size of any stake sale could change, the people said.Aston Martin’s shares rose as much as 5.4% in early trade on Monday before paring gains.The stock has tumbled more than 60% over the past 12 months. Its sterling bonds jumped on Friday after Financial Times reported on a possible investment by Geely. Sky News reported over the weekend that Chinese battery maker Contemporary Amperex Technology Co. Ltd. may take a stake in Aston Martin. A CATL representative denied the report.Stroll built his fortune by investing in fashion labels including Pierre Cardin, Ralph Lauren and Tommy Hilfiger through Global Brands Acquisition Corp. The tycoon may seek a seat on Aston Martin’s board of directors if he goes ahead with the investment, one of the people said.Aston Martin made clear the depth of its troubles as it reported a severe decline in profit in its first full year as a listed company on Tuesday. Its avenues for financing have narrowed amid weak operating performance and its year-end cash balance stood at 107 million pounds, according to January’s trading statement.Alongside declining profit, Aston Martin is facing the prospect of raising additional debt funding which may bring its total outstanding debt to over 1 billion pounds. It is set to pay a 15% coupon on the planned $100 million of debt financing.Private equity firms Investindustrial and Kuwait’s Adeem control more than 60% of Aston Martin. European investment firm Investindustrial is expected to participate in a capital increase, two of the people said.(Updates with share price in eighth paragraph.)\--With assistance from Tian Ying, Andrew Davis and Chunying Zhang.To contact the reporters on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net;Siddharth Philip in London at sphilip3@bloomberg.net;Tommaso Ebhardt in Milan at tebhardt@bloomberg.netTo contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, ;Kenneth Wong at kwong11@bloomberg.net, John BowkerFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Fool.co.uk
The Aston Martin share price rallied 13% on Friday! Is it time to buy or sell?
News that potential investors are lining up has given Aston Martin a boost, but is it enough for longer-term success?
- Reuters
China's Geely in talks to take stake in Aston Martin
The Chinese group is conducting due diligence on the 107-year-old UK business, the cars of which are the drive of choice for fictional British secret agent James Bond, the FT reported, citing four people familiar with the discussions. News of Geely's interest comes a month after Aston Martin confirmed it was in early talks with potential investors as it launched a review of its funding.
- Bloomberg
Geely of China in Talks About Taking Aston Martin Stake, FT Says
(Bloomberg) -- Zhejiang Geely Holding Group Co. of China has held talks with management and investors in Aston Martin Lagonda Global Holdings Plc about taking a stake in the U.K. carmaker, the Financial Times reported.Aston Martin shares jumped as much as 20%, and traded 13% higher at 460.00 pence as of 4:29 p.m. in London. The stock has declined almost two thirds over the past 12 months.The company said last month it was in talks with potential investors, and this week showed the depth of its financial troubles by reporting a severe decline in profit in its first full year as a listed company.Geely is conducting due diligence, the FT said Friday, citing unidentified sources. A technology partnership is also a potential outcome of talks, the British newspaper said.Alongside declining profit, Aston Martin is facing the prospect of raising additional debt funding in the next four weeks, which may bring its total outstanding debt to over 1 billion pounds. Those borrowings may be unsecured, increasing borrowing costs.In December, industry magazine Autocar reported that Canadian fashion billionaire Lawrence Stroll was planning a bid for the company.To contact the reporter on this story: John Bowker in Johannesburg at jbowker2@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Frank Connelly, Tara PatelFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Fool.co.uk
Tempted to take the Aston Martin share price for a test drive? I’m not.
Since its IPO, shares in Aston Martin have gone straight down. The latest trading update won't help to lift them.
- Bloomberg
Aston Martin Slumps After ‘Disappointing’ Year of Profit Decline
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The crisis at Aston Martin Lagonda Global Holdings deepened after the U.K. carmaker reported a steep profit decline in its first full year as a listed company, hammering its stock and bonds and increasing the urgency to attract fresh capital for a turnaround.Adjusted earnings were about 130 million pounds ($171 million) to 140 million pounds last year, compared with the 247 million pounds reported for 2018, the company said. The shares fell as much as 16% to 436 pence, bringing the decline since the initial public offering in late 2018 to about 75%.Aston has turned out to be a deeply unprofitable investment for shareholders, ending the year as the the second-worst performing stock on the FTSE 350 index. Ferrari NV‘s stock, by contrast, returned 70% last year, highlighting the diverging fortunes between the two super-car brands in a year that Aston Martin Chief Executive Officer Andy Palmer called “very disappointing.”“It’s extraordinary to see how much the Aston Martin equity story has unravelled since the IPO,” Max Warburton, an analyst at Sanford C. Bernstein in London, wrote in a note titled “Shattered Dreams.” Warburton said the need to raise capital is “long overdue” and that partnering with another manufacturer is “probably desirable.”“Whether such a partner is available and whether there will be substantial equity value upside from a deal remains unclear,” he wrote in the note.Speaking in an interview, Palmer sought to focus on what he called the “one bright spot” at Aston: the order book for the new DBX sports-utility vehicle that’s turned into a make-or-break product for the company. The $189,000 DBX sits at the heart of plans to more than double annual output to 14,000 autos by 2023. Aston Martin said it got 1,800 orders for the model, meeting a condition it had to obtain a follow-on loan for $100 million.Aston Martin said on Tuesday it will draw on the additional debt funding in the next four weeks, which may bring its total outstanding debt to over 1 billion pounds. Moreover, the funds may be issued in the form of unsecured debt, which in turn would further increase its borrowing costs to as high as 15% from 12%.The company’s sterling bonds due in 2022 posted their biggest one-day drop since October following the earnings release, before retracing to trade little changed on the day by midday in London. The stock dropped as much as 84 pence to 436 pence.The company, best known as the ride of choice for onscreen spy James Bond, has been battered by an industry downturn, uncertainty around Brexit and a lukewarm response to some models. Weaker-than-expected sales have forced the carmaker to scale back its sales volume targets. While Aston Martin made progress reducing inventory, it remains “a bit higher than we’d like,” the CEO said in an interview.Aston Martin said it had to boost customer financing support and increase marketing, especially in the U.S., which undermined its cost-savings plan. The rally in the pound in December has also become an obstacle as it reduces the value of sales from abroad. The carmaker said higher sales of its entry-level Vantage model eroded average selling prices.“The main question is not how many DBX have been ordered, but at what price and will it generate free cash or enough money to offset falling sales of Vantage/DB11,” said Sanjay Jha, an analyst at Panmure Gordon in an email.The carmaker said it remains in talks with potential investors that were originally announced in December. That month, industry magazine Autocar reported that Canadian fashion billionaire Lawrence Stroll is planning a bid for the company.(Updates with analyst comment in eighth paragraph.)\--With assistance from Joe Easton, Thomas Mulier and Laura Benitez.To contact the reporter on this story: Siddharth Philip in London at sphilip3@bloomberg.netTo contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, Benedikt Kammel, Tara PatelFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Bloomberg
Aston Martin Isn't a Patch on Ferrari
(Bloomberg Opinion) -- Barely a year has passed since Aston Martin Lagonda Global Holdings Plc listed shares in London and persuaded investors it deserved a premium valuation similar to that of Ferrari NV. The luxury carmaker’s preliminary yearly results, published on Tuesday, were a reminder that its management badly misjudged both the strength of the brand and the resilience of its balance sheet.In reality Aston Martin isn’t a patch on Ferrari and instead faces an uphill battle just to keep the lights on. A year ago the U.K. company told investors that its dealers would probably purchase about 7,200 vehicles in 2019. In fact, wholesale volumes fell 7% to a dismal 5,800 (or about 5,900 if special models are included).Instead of the 24% Ebitda margin promised in 2019, Aston Martin achieved only 13%. This means it almost certainly lost money for the second year running. The ratio of Aston Martin’s indebtedness to Ebitda — at more than 6 times — is alarmingly high. About 3 billion pounds ($3.9 billion) of equity value has gone up in smoke since the initial public offering.Aston Martin wants investors to look past all this and focus on promising orders for the DBX sports utility vehicle, on which the fate of the company depends. Access to a second $100 million tranche of debt financing was contingent on quickly gaining 1,400 orders for the DBX, which Aston Martin has achieved.While that’s a relief, that Aston Martin now plans to draw on this very expensive borrowing reveals how fragile its finances have become. And even this might not be enough to tide the company over until DBX sales start in the second quarter.Management is reviewing funding options, including the possibility that strategic investors make an equity investment. A capital injection would reassure Aston Martin’s bondholders — while the sterling bonds sold off on Tuesday, they remain well above the October lows. But existing shareholders, who’ve suffered plenty already, must fear getting diluted (unless they engineer a takeover).In view of its salience to cash flow, the focus on the DBX is understandable, yet it shouldn’t distract from the pretty lamentable performance of Aston Martin’s core business. On Tuesday luxury rival Rolls-Royce (owned by BMW AG) confirmed its sales increased by one-quarter last year. Ferrari is expected to report a 34% adjusted Ebitda margin for 2019, almost treble what Aston Martin achieved.The British carmaker has been guilty of pushing too many cars to dealers, which puts downward pressure on pricing. Rectifying this will be a slog. Residual values for luxury cars have softened, according to Goldman Sachs Group Inc. analysts, which might make customers reluctant to pay top dollar for a new car and can make leasing expensive. Aston Martin managed to cut an inventory overhang toward the end of the year only by stepping up financing support and marketing spend.Though difficult to quantify, negative headlines about Aston Martin’s finances probably aren’t helping dealers shift models. Plenty of its customers are banker types who’ll know better than most how precarious the situation has become.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2020 Bloomberg L.P.
- Yahoo Finance UK
What to Watch: Aston Martin sinks, Premier Oil deal and supermarket woes
A daily overview of the top business, market and economic stories you should be watching today in the UK and abroad.
- Yahoo Finance UK
Aston Martin issues stark profit warning after 'very disappointing' year
The carmaker saw a steep decline in European sales.
- Fool.co.uk
These FTSE 250 stocks slumped last year. This is what I’d do now
Andy Ross looks at two struggling share prices and what 2020 could have in store for investors.
- Fool.co.uk
Should you drive forward with this UK stock or make an escape?
Does the latest development at Aston Martin Lagonda (AML) merit an investment?
- Yahoo Finance UK
The worst stocks of 2019: Tullow Oil, Aston Martin, and more
The FTSE 350 rose 15% during 2019 — but not everyone has shared the spoils. These 10 stocks were the worst performers.
- Fool.co.uk
Is 2020 the year to buy Sirius Minerals & these other big fallers?
Roland Head asks if the Sirius Minerals (SXX) share price could stage a recovery in 2020.
- Fool.co.uk
The Aston Martin share price has skidded again. Here’s what I’d do
G A Chester discusses the big share-price-shifting news from James Bond's favourite car maker Aston Martin, and roadside assistance firm AA.
- Reuters
Britain's Aston Martin talking to investors as reviews funding
The Financial Times reported earlier that Aston Martin has held meetings over recent weeks with Canadian billionaire Lawrence Stroll, other carmakers and potential investors from the Middle East, India and China. Autocar magazine reported last week that Stroll, owner of Formula One team Racing Point, is preparing to buy a major stake in Aston, whose market capitalisation is now only around 1.27 billion pounds ($1.63 billion). As the car industry consolidates through deals such as the Peugeot and Fiat merger, Aston has said it does not need to belong to a bigger automotive group, pointing to the success of stand-alone rival Ferrari .
- Yahoo Finance UK
Aston Martin opens new factory in Wales
New plant will make Aston's first SUV and create 600 new jobs.
- Reuters - UK Focus
UPDATE 1-Aston Martin not actively pursuing new investors as opens SUV plant
Aston Martin, which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors on Friday as it opened a new factory to build its first sport utility vehicle. As some in the global car industry turn to partnerships, alliances or mergers to handle the challenge of electrification, new technology and tighter margins, Autocar magazine reported on Thursday that Stroll, the owner of Formula One team Racing Point, is preparing to buy a major stake in Aston. The British automaker's new factory in south Wales holds the key to ending a poor performance this year from Aston, whose shares have tumbled 75% this year on weaker-than-expected sales.
- Reuters
Aston Martin CEO says shareholders in it for the long-term, not soliciting participation
Aston Martin's two major shareholders are in it for the long term and the company is not actively soliciting participation, the firm's boss said on Friday after a media report said Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake. "They look to the long term," Andy Palmer said of the company's biggest owners.
- Reuters
Aston Martin not actively pursuing new investors as opens SUV plant
Aston Martin , which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors on Friday as it opened a new factory to build its first sport utility vehicle. As some in the global car industry turn to partnerships, alliances or mergers to handle the challenge of electrification, new technology and tighter margins, Autocar magazine reported on Thursday that Stroll, the owner of Formula One team Racing Point, is preparing to buy a major stake in Aston. The British automaker's new factory in south Wales holds the key to ending a poor performance this year from Aston, whose shares have tumbled 75% this year on weaker-than-expected sales.
