(Reuters) – Aston Martin said on Wednesday it expected to improve its profitability this year and turn positive free cash flow in the second half, after 2022 losses came in better than market expectations.
The London-listed company forecast wholesale volumes of about 7,000 units for 2023, slightly below average market expectations of 7,134. But its outlook of about 20% adjusted core profit margin came in ahead of analysts’ average view.
The British company reported a bigger adjusted operating loss of 118 million pounds ($142.20 million) for the year ended Dec. 31, compared with a loss of 74.3 million pounds for the same period a year earlier.
Analysts on average had expected adjusted operating loss to come in at 135 million pounds for 2022, according to a company-compiled consensus.
($1 = 0.8298 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu)
