Aston Martin declares £53m loss despite increased Turnover in 2022 F1 season

Aston Martin are a team on the up in the 2023 Formula 1 season. However, recently their on-track performances have stalled a bit, accepted by Team Principal Mike Crack as well. Fernando Alonso can only do so much as Lance Stroll tries to catch up. However, one thing that their shareholders wouldn’t have been expecting is their balance sheet. They have reported a loss of a staggering $53 million for the 2022 Formula 1 season.

A Greater Loss Despite Better Turnover

A loss is not a big deal in today’s world. If a company can show they are growing, most investors will handle losses. However, Aston Martin would be worried because their loss increased in a year when they had better turnover.

Aston Martin had generated a turnover of $150 million in 2021, which increased to $188 million in 2022. However, their losses also increased from $43 million in 2021 to $53 million in 2022. This is not a trend Aston Martin and its shareholders would like.

Also Read:

Sebastian Vettel says “You can never rule out” on Formula 1 return

Felipe Massa & legal team extend deadline for Formula 1 & FIA Response

On-track Performance Slump

Mike Crack hasn’t shied away from admitting Aston Martin have been outdeveloped by other Formula 1 teams. Lance Stroll has had a slump in form, while Fernando Alonso is doing everything he can in that car.

At the start of the season, Aston Martin had the second-quickest car after Red Bull. Now, they are struggling on the fringes of the points, fighting with Alpine. Such has been their downfall that McLaren might actually pass them for 4th in the standings this season.

Jessica Hawkins completed a test for Aston Martin at the Hungaroring last week, becoming the first woman to drive a modern F1 car in almost 5 years 👏 pic.twitter.com/AfXliywA8P

— WTF1 (@wtf1official) September 26, 2023

Morale Still Strong

Mike Crack recently said in an interview that the team morale at Aston Martin is still strong. The dip in the performance of Lance Stroll and the harsh words of Fernando Alonso haven’t hurt the team.

He said, “It’s surprisingly strong with all of them, especially in the garage. You can see everybody wants to get back to the podium, everybody liked this experience from the beginning of the year, so the morale is strong, and it is something that we need to keep up also.”

Also Read: McLaren getting closer to Toyota as Formula 1 rumours solidify in F1 paddock

Can Aston Martin bounce back in the last 6 races? Or will McLaren overhaul them? Keep following us to find out.