- for speed listening, go to the settings wheel on the bottom right of the video and choose playback speed -

Intro, Cap and Legal Structure - 9 Apr 25

Main Drivers - 9 Apr 25

Tariffs and Expectations - 9 April 25

Brand Value - 9 Apr 25

Investment Discussion - 9 April 25

SARRIA News - CWT
Aengus McMahon
Aston Martin - comment
Aengus McMahon

Aston Martin remains vulnerable to further shocks in the US, but we expect the risks to be receding for now. The potential impact on

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

When equity has fallen so significantly, paying more cash becomes inevitable to attract the best senior executives and

Aengus McMahon
Aston Martin - comment
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon
Aengus McMahon
Wolfgang Felix
Sarria: Tariff Terror - what it means for every name
Wolfgang Felix

As 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

Wolfgang Felix
Aston Martin - Plugging gaps - Initiation
Aengus McMahon
Aston Martin - Plugging gaps - Initiation
Aengus McMahon

Please find our new analysis here.

 

Aston Martin’s new models have all been very well received. However, the company is still some distance from the 12k annual production levels by

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

Raising an additional £125m in cash will plug any hole in Aston’s liquidity before it emerges. The sale of the minority stake in the

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

The coupon for AML’s refinance will irritate Lawrence Stroll, but getting the deal away successfully allows management to focus on

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aston Martin – Motoring on – Positioning
Aengus McMahon
Aston Martin – Motoring on – Positioning
Aengus McMahon

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

Aengus McMahon
Aston Martin - comment
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon
Aengus McMahon
Aston Martin - comment
Aengus McMahon

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

Aengus McMahon