Aston Martin Lagonda (AML) Ordinary 10p
0.70p
(0.68%)
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0.70p
(0.68%)
Deal for just £11.95 per trade in a
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Lifetime ISA
,
SIPP
or
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0.70p
(0.68%)
Deal for just £11.95 per trade in a
Stocks and Shares ISA,
Lifetime ISA
,
SIPP
or
Fund and Share Account
HL comment (27 November 2024)
No recommendation - No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest.
Aston Martin has raised around £110mn of net proceeds by issuing new equity shares at 100p per share. This represents a discount of 7.3% to the closing price on the prior day.
The group also intends to raise a further £100mn by issuing new debt. This debt will carry interest rates of above 10% on average, and will mature in 2029.
The combined £210mn of funds will be used to support the group’s “long-term growth plans” by providing “increased financial resilience.”
Due to a delay with its Valiant model, the group now expects to deliver around half of the 38 new Valiant models by the end of the year (previously the majority). As a result, full-year underlying cash profit (EBITDA) is expected to land in the £270-280mn range (2023: £305.9mn).
The shares fell 4.7% in early trading.
Our view
HL view to follow.
Aston Martin key facts
Forward price/sales ratio (next 12 months): 0.48
Ten year average forward price/sales ratio: 1.09
Prospective dividend yield (next 12 months): 0.0%
Ten year average prospective dividend yield: 0.0%
All ratios are sourced from Refinitiv, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.
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