Aston Martin says profitability to improve this year after tough 2022 – Reuters

Aston Martin says profitability to improve this year after tough 2022 – Reuters

March 1 (Reuters) - Aston Martin (AML.L), a London-listed luxury carmaker, said it expects profitability to improve this year and to turn free cash flow positive in the second half as it begins deliveries of its next-generation sports cars in the third quarter.

The company on Wednesday forecast wholesale volumes of about 7,000 units for 2023, slightly below average market expectations of 7,134, but its outlook of for an adjusted core profit margin of about 20% came in ahead of analysts' average view.

Shares in the company jumped 7% to their highest level since July last year by 0816 GMT.