Aston Martin declares big loss for 2022 F1 marketing campaign

Aston Martin has revealed a lack of £53 million for final yr’s Method 1 marketing campaign – a rise of the deficit declared in 2021.

The loss comes regardless of its turnover growing by over £32m as a result of sponsorship and prize cash funds.

Aston Martin has been increasing its F1 operation because it joined the grid in 2021, setting up a brand new manufacturing unit at Silverstone, with its doorways formally opening in July earlier this yr.

It was famous that “as of December 31 2021 the group was dedicated to capital expenditure of $64,985,490 referring to the event of the Aston Martin F1 Campus”.

Working underneath the identify of AMR GP Restricted, figures launched to the general public area this weekend confirmed that AMR GP generated a turnover of £187,728,000 final yr, up from £150,438,000 in 2021.

However the price of the bills to go racing rose considerably – £152,046,00 from £107,735,000.

With different figures resembling administrative bills and earnings from authorities grants included, its loss totalled £52,915,000 in comparison with £43,332,000 in 2021.

The corporate additionally revealed that its workers amounted to 504 workers, 81 of which labored in administration whereas the remaining 423 had been in “design, manufacturing and technical”.

There was additionally a advertising contribution of £19,208,000 from the F1 workforce directed in the direction of the Aston Martin Lagonda street automotive firm, down £844,000 in comparison with 2021.

A element additionally outlines that AMR GP paid Falcon Racing Companies Inc £1,835,000 for the availability of the racing companies of Lance Stroll.

That is down by £225,000 on 2021, with Falcon giving £1,125,000 in sponsorship funds final yr.

The Aston Martin Efficiency Applied sciences division, which is headed by ex-F1 workforce boss Martin Whitmarsh, was additionally included within the report.

It was famous that the corporate is increasing its operations by the mission because it “takes our learnings from the racetrack and applies them to real-world issues.”

Aston Martin ended final yr’s F1 marketing campaign seventh within the Constructors’ Championship.