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Luxury carmaker Aston Martin Lagonda reported a jump in car sales to dealers, but said it expected core earnings to fell short of expectations after selling fewer than planned Valkyrie models in the fourth quarter.
Adjusted earnings before interest, taxes, depreciation, and amortisation, or EBITDA, was anticipated to be about £15 million lower than expected as the company shipped 10 Aston Martin Valkyrie and Valkyrie AMR Pro vehicles in Q4, fewer than previously planned.
Wholesales grew 82% to 6,182 as planned, the company said..
'The Valkyrie programme is now running at rate for 2022 having focused on delivering with no compromises in the face of supply chain challenges and huge complexity in the production ramp-up which resulted in a timing impact for 2021,' the company said.
'With a full year of Aston Martin Valkyrie programme deliveries in 2022 we are expecting to deliver significant growth, in addition to the launch of our second DBX derivative, intended to disrupt the performance luxury SUV market and the final edition of the V12 Vantage.'