Aston Martin raises £210m after new chief executive issues second profit warning

Aston Martin has tapped up investors for a £211m fundraise after issuing a second profit warning in two months.

New chief executive Adrian Hallmark, who became the luxury car maker’s fourth boss in four years in September, has downgrading expectations again after delays in the delivery of some of its Valiant models.

The result is it now expects adjusted earnings to be £270m-£280m, up to 10% lower than last year.

Aston Martin is raising £210m through a £111m placing supported by the issue of £100m of additional senior secured notes.

Lawrence Stroll, executive chairman at Aston Martin, said: “Aston Martin has made huge strategic progress since the Yew Tree Consortium first invested in the company in 2020, transforming our product offering, revitalising our brand and accelerating our business operations forward.

“With the strong backing of Aston Martin’s strategic shareholders and the Board, Adrian now leads the company into an exciting 2025 with a stronger and more resilient balance sheet, readying Aston Martin to deliver long-term value for all stakeholders.”

The financing is designed to support the company’s long-term growth plans, providing “increased financial resilience and strength as the company maximises the potential of its fully reinvigorated core portfolio of class-leading next generation models”.

Hallmark added: “Building on the strength and desirability of Aston Martin’s iconic brand, we have clear sustainable growth opportunities for the business. As we bring incredible products to market, my focus is on maximising the commercial potential of the company.

“We are already taking decisive actions to better position the Group for the future including a more balanced production and delivery profile in the coming quarters.

“Coupled with a forensic approach to cost management and quality, these efforts will deliver enhanced operational and financial performance in 2025 and beyond, as we progress towards our mid-term targets. The financing we are undertaking supports our growth and provides the investment to continue with future product innovation.”