Highlights

  • Aston Martin reports Q3 revenue of GBP 285.2m, down 27% year-on-year.
  • Deliveries of the Valhalla hybrid supercar commenced in October 2025.
  • The company cuts FY25 capex to GBP 350m and SG&A to GBP 275m.

Aston Martin Lagonda Global Holdings plc (LSE:AML) reported its third-quarter results for the three months ended 30 September 2025, reflecting lower wholesale volumes and weaker global demand. Total Q3 wholesale volumes declined 13% to 1,430 units, compared to 1,641 units in Q3 2024. Revenue for the quarter fell 27% to GBP 285.2m from GBP 391.6m in the same period last year.

The company attributed the decline to macroeconomic headwinds, including the sustained impact of U.S. tariffs and weak demand in China. The Q3 gross margin stood at 29%, down from 36.8% in the prior year, while adjusted EBIT decreased to negative GBP 50.6m from negative GBP 21.7m in Q3 2024.

Aston Martin reported an operating loss of GBP 56.1m and a loss before tax of GBP 111.9m for the quarter. Adjusted EBITDA declined to GBP 10.7m, representing a margin of 3.8%, compared to 12.9% a year earlier.

Cost Management and Capital Expenditure Reduction

In response to market conditions, the company announced immediate actions to reduce FY25 capital expenditure to around GBP 350m and selling, general and administrative (SG&A) expenses to approximately GBP 275m. It is also reviewing its future product cycle plan, targeting a five-year capex reduction to GBP 1.7bn from GBP 2bn.

YTD 2025 free cash outflow stood at GBP 415m, slightly higher than the GBP 394m outflow in the prior period. Net debt increased 14% to GBP 1.38bn compared with GBP 1.22bn in September 2024, primarily due to lower cash balances and higher bank loans and overdrafts.

Management Commentary on Market Conditions

Adrian Hallmark, Chief Executive Officer, said:
"This year has been marked by significant macroeconomic headwinds, particularly the sustained impact of US tariffs and weak demand in China. In response to these market dynamics, we have taken, and continue to take, proactive steps to strengthen our overall position."

He added that the company expects deliveries of Valhalla, DBX S, and Vantage S to improve sequential performance in Q4 2025, and that around 500 Valhalla units are planned for delivery in FY26.

Outlook for FY26

Aston Martin expects sequential improvement in Q4 2025 financial performance driven by new model deliveries and tighter cost controls. The company anticipates FY26 profitability and cash flow to materially improve compared with FY25, supported by Valhalla deliveries and disciplined operating management.

Share Performance

AML’s shares were trading at GBX 65.35 per share on 29 October 2025, up 0.38% from its previous close of GBX 65.10.