Luxury automotive manufacturer Aston Martin has announced its revenues surpassed £500m last year as sales climbed by 13%.
The company, based in Gaydon, Warwickshire, confirmed turnover amounted to £519m in the year to 31 December 2013, with adjusted pre-tax earnings rising by 22% to £84.4m.
In a further boost to the company, global retail volumes also increased by 11% to £4,200, following Aston Martin’s £100m investment drive – the largest in its history.
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The outlay of the loan includes investment in new models such as the Lagonda SUV in an attempt to target the Chinese market, where demand for British made goods has risen considerably in the last five years.
The announcement comes just days after the carmaker’s credit rating was downgraded by agency Standard & Poor, which said it will face “continued substantial negative free operating cashflow” as a result of capital expenditure during 2014- and 2015.
Hanno Kirner, Aston Martin chief financial officer, said 2013 was a year of progress for the company as it marked its centenary year.
“We will, in the next few years, be implementing the biggest investment programme in our 101-year history, preparing the ground for new and exciting products in the future,” he said.
“Our strong ownership structure and strategic partnership with Daimler AG, finalised in December 2013, provides us with a solid foundation for the unprecedented investment programme that will underpin our future growth.”
