Aston Martin Lagonda Global Holdings PLC (OTCPK:AMGDF)
$ 1.355 0.045 (3.44%) Market Cap: 1.22 Bil Enterprise Value: 2.67 Bil PE Ratio: 0 PB Ratio: 1.18 GF Score: 56/100
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Full Year 2019 Aston Martin Lagonda Global Holdings PLC Earnings Call Transcript

Feb 27, 2020 / 09:00AM GMT
Release Date Price: $10.6 (-5.10%)
Penelope Lesley Hughes
Aston Martin Lagonda Global Holdings plc - Non-Executive Chairman of the Board

Good morning, everyone. It has 9:00. I'm Penny Hughes, Chairman of Aston Martin Lagonda. Welcome to our results meeting.

This has been a disappointing year for Aston Martin Lagonda with revenues 9% lower, and a significant fall in adjusted EBITDA to GBP 134 million have contributed to severe pressure on liquidity, which has left the company with no alternative but to seek GBP 500 million of additional equity financing, without which the balance sheet is not robust enough to support the operations of the group.

The Second Century Plan, to which the business has committed since 2015 and through IPO, ultimately proved to be too ambitious and was not able to withstand the demanding scale of investment required, including committed new manufacturing facilities and the unexpectedly large downside risk of underperformance that the business has experienced. This has required decisions of the Board in relation to the capital structure of the company and the business plan to be reset.

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