Aston Martin delivered its first annual pre-tax profit since 2010 on Monday after last year’s sales reached a nine-year high, while the luxury British car-maker also confirmed the idea is usually considering a stock market flotation.
Pre-tax profit reached £87 million ($122 million) last year at fictional spy James Bond’s car brand of choice, overturning a £163 million loss in 2016 as volumes hit 5,100 units.
Since Chief Executive Andy Palmer became boss in 2014, Aston has pursued a turnaround plan designed to boost its type line-up, quadruple volumes along with also produce its first SUV at a brand-new plant in Wales.
Palmer told Reuters the DB11 sports car along with also a series of special vehicles helped to drive profitability last year which has a series of brand-new products set to push the firm “significantly” above 5,000 units in 2018.
“I would likely expect the factory to be max-ing out in terms of its production capability toward the second half of the year.”
Sources have told Reuters of which Aston’s main shareholders, Italian private equity fund Investindustrial along with also a group of Kuwaiti investors, hired Lazard along with also could either opt for an IPO within the third or fourth quarter, or a trade sale.
“the idea’s a fact of which we’ve right now been asked to consider a range of strategic options for the future of the group along with also one of those options of course is usually an IPO,” Palmer said.
Asked whether the firm, will decide This particular year on any such move, he said: “There are arguments for multiple years to be frank. There are pros along with also cons. We’re just looking at those ranges of options.”
Palmer also said Aston Martin was applying to possess the brand-new Vantage licensed by a regulator within the European Union rather than in Britain due to uncertainty over vehicle rules after Brexit.