Aston Martin Lagonda Global Holdings PLC (AMGDF) reported revenue of 629 million for the first half of 2026, representing a 38% increase compared to the same period in 2025.
Wholesale volumes climbed 21% to 2,331 units, while retail volumes outpaced wholesales by more than 30%, signaling robust consumer demand across the brand’s model lineup.
The average selling price rose 17% to 241,000, reflecting a stronger product mix and the continued impact of high-value Valhalla supercar deliveries on overall revenue composition.
Gross profit surged 68% from 127 million to 213 million, with the gross margin expanding to 34% from 28% in the prior year period, a meaningful improvement in underlying profitability.
The company delivered over 220 Valhallas during the period, marking a significant milestone for Aston Martin’s first mid-engine plug-in hybrid electric supercar and contributing heavily to financial performance.
Despite the revenue and margin gains, AMGDF reported an adjusted EBIT loss of 109 million, an improvement of 10% compared to the prior year but still a substantial drag on overall results.
Free cash flow showed an outflow of 198 million, improved from the 321 million outflow recorded in H1 2025, while net debt increased to 1.5 billion during the period.
The company secured a new 550 million debt financing package, structured as a 450 million senior secured term loan and a 100 million delayed draw term loan, to enhance liquidity and support future product plans.
Liquidity at the end of the first half stood at 145 million, bolstered by the new financing, though the net adjusted leverage ratio reached 8.9 times and net adjusted financing costs rose sharply to 99 million from 9 million.
CFO Douglas Lafferty addressed free cash flow expectations, saying the full-year position is expected to be “close to the half-year position, with material cumulative year-on-year improvement from Q2 onwards.”
CEO Adrian Hallmark noted that the rundown of aged stock was slower than anticipated but is improving, with wholesale and retail balance expected to be achieved in the second half of 2026.
Hallmark also highlighted strong demand dynamics across core models, noting that DB12 is the highest volume car, followed by Vantage, with Vanquish positioned as the highest-priced, lower-volume offering.
Depreciation and amortization increased by 45% to 172 million, adding pressure to overall profitability even as operational metrics continued to show improvement across key categories.
The company flagged ongoing headwinds from a strengthening pound against the US dollar, as well as broader macroeconomic and geopolitical pressures including the conflict in the Middle East and US tariffs.
Lafferty indicated that second-half gross margin improvement will be driven by a stronger product mix, normalization of dealer support, and reduced costs related to quality and warranty across the model range.
