Nov 2 (Reuters) – British luxury carmaker Aston Martin said on Wednesday global supply chain issues have delayed an expected improvement in its results, while cutting its 2022 delivery and margin forecasts .
The Aston Martin title fell by more than 12% on Wednesday at the start of the session.
Automakers and manufacturers around the world have suffered from long-standing problems with the supply of parts and chips used in production during the pandemic, and these difficulties have only worsened after the invasion of the Ukraine by Russia.
The group, which is also a sponsor of Formula 1, on Wednesday estimated the additional costs linked to the latest supply problems at around 20 million pounds (23.24 million euros).
“Although the supply chain issue had a short-term impact on our results, I am confident that the actions we are taking will allow us to emerge from the year in a better position to achieve our objectives for 2023 and beyond. beyond,” said general manager Amedeo Felisa.
The London-listed group now plans to deliver between 6,200 and 6,600 vehicles this year, compared to more than 6,600 vehicles previously planned.
In September, Aston Martin raised about $660 million to reduce debt and invest in new models.
However, logistical challenges in the third quarter impacted more than 400 vehicle deliveries that had been planned for the period, executive chairman Lawrence Stroll said.
Aston Martin expects margins to improve to around 100-300 basis points from around 350-450 basis points previously.
The group’s operating loss in the third quarter widened to 58.5 million pounds from 30.2 million a year earlier. (Written by Pushkala Aripaka; French version Elena Smirnova, editing by Kate Entringer)