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Attracting 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
The coupon for AML’s refinance will irritate Lawrence Stroll, but getting the deal away successfully allows management to focus on
With 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
Please find our unchanged analysis here.
Aston Martin (AML) will refinance in Q4 2024 and pricing reflects call levels. We have decided to exit our position to allocate capital elsewhere after a Q423 that
Despite a strong 2022 comp, AML beat our Q4 expectations for Revenue and Adjusted EBITDA. The weaker-than-expected operational cash flow resulted from a
We have been expecting Aston Martin (AML) to refinance its debt stack in 2024, and the company is moving towards that. We do not expect
That Aston Martin is starting to look for a new CEO is no surprise. When Amedeo Felisa stepped up from Non-Exec to CEO, we said he was not a
The shelving of the Vanquish will not impact the rollout of the new DBS and Vantage models. Just like the decision to buy an electric powertrain rather than
The increase in Saudi PIFs overall stake in Aston Martin (AML) is mainly cosmetic from a creditor’s perspective. However, the confidence shown in
Please find our slightly updated analysis here.
Aston Martin (AML) cut its 2023 volume target after production issues arose in the new DB12. Volume guidance for 2023 is now close to our original
Revenue and volumes were light relative to our expectations, and AML has reduced its volume target for 2023. AML experienced problems ramping up
Given we expect Geely will eventually buy Aston Martin, the increase in the Yew Tree stake was likely already discussed. It may have been an error
The additional 3.27% purchased by the Yew Tree Consortium makes no direct difference to Aston Martin but indicates that the existing
The tie-up with Lucid can now be completed after the issue of shares was approved at yesterday’s General Meeting. Failure to approve was never
Given that success in China is important for AML, the new appointments to Aston Martin’s executive team in China add valuable experience. The DBX is a