{"id":2026919,"date":"2019-02-28T10:30:14","date_gmt":"2019-02-28T10:30:14","guid":{"rendered":"http:\/\/www.thebusinessdesk.com\/westmidlands\/?p=2026919"},"modified":"2019-03-01T08:01:27","modified_gmt":"2019-03-01T08:01:27","slug":"aston-martin-loses-500m-in-value-after-share-price-crash","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/westmidlands\/news\/2026919-aston-martin-loses-500m-in-value-after-share-price-crash","title":{"rendered":"Aston Martin loses \u00a3670m in value after share price crash"},"content":{"rendered":"<p>Shares in luxury car manufacturer Aston Martin fell more than 20% after it revealed pre-tax losses of \u00a368m.<\/p>\n<p>The market value of the Gaydon-based group dropped by \u00a3670m yesterday, continuing the downward trend since it floated in October.<\/p>\n<p>The company went public with a \u00a34.3bn valuation but it closing share price of \u00a310.80 now values it at less than \u00a32.5bn.<\/p>\n<div class=\"visualizer-front-container\" id=\"chart_wrapper_visualizer-2026920-827399520\"><style type=\"text\/css\" name=\"visualizer-custom-css\" id=\"customcss-visualizer-2026920\">.locker,.locker-loader{position:absolute;top:0;left:0;width:100%;height:100%}.locker{z-index:1000;opacity:.8;background-color:#fff;-ms-filter:\"progid:DXImageTransform.Microsoft.Alpha(Opacity=80)\";filter:alpha(opacity=80)}.locker-loader{z-index:1001;background:url(https:\/\/www.thebusinessdesk.com\/westmidlands\/wp-content\/plugins\/visualizer\/images\/ajax-loader.gif) no-repeat center center}.dt-button{display:none!important}.visualizer-front-container.visualizer-lazy-render{content-visibility: auto;}.google-visualization-controls-categoryfilter label.google-visualization-controls-label {vertical-align: middle;}.google-visualization-controls-categoryfilter li.goog-inline-block {margin: 0 0.2em;}.google-visualization-controls-categoryfilter li {padding: 0 0.2em;}.visualizer-front-container .dataTables_scrollHeadInner{margin: 0 auto;}<\/style><div id=\"visualizer-2026920-827399520\" class=\"visualizer-front  visualizer-front-2026920\"><\/div><!-- Not showing structured data for chart 2026920 because description is empty --><\/div>\n<p>Russ Mould, investment director at AJ Bell, said: &#8220;It may still be James Bond\u2019s favourite model but shares in luxury car maker Aston Martin Lagonda appear to have real engine trouble.&#8221;<\/p>\n<p>Aston Martin achieved annual revenues of more than \u00a31bn for the first time after it achieved a big jump in car sales. It sold 6,441 vehicles in 2018, 26% more than a year earlier, although the average selling price was down slightly to \u00a3157,000.<\/p>\n<p>Chief executive Dr Andy Palmer said it had been &#8220;an outstanding year&#8221; for the company, &#8220;delivering strong growth, with improving revenues, unit sales and adjusted profits&#8221;.<\/p>\n<p>Adjusted EBITDA &#8211; a measure of operational profitability &#8211; was up 20% to \u00a3247m.<\/p>\n<p>However adjusting items of \u00a3136m relating to the IPO &#8211; including the \u00a361m cost of settling long-term employee incentives &#8211; dragged the group&#8217;s operating performance down to a statutory pre-tax loss of \u00a368m.<\/p>\n<p>&#8220;So why does chief executive Andy Palmer describe last year as an \u2018exceptional\u2019 one for the group?,&#8221; asked Mould. &#8220;Well it did post record revenue of more than \u00a31bn with volumes ahead of guidance, but today\u2019s negative market reaction suggests it has a lot more to do to win over the sceptics.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors react badly despite record revenues<\/p>\n","protected":false},"author":18,"featured_media":2018779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[81],"class_list":["post-2026919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-top-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Aston Martin loses \u00a3670m in value after share price crash | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"Investors react badly despite record revenues\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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