A recently signed deal between Mercedes' AMG division and Aston Martin should ease the financial burden
Aston Martin has posted a post-tax loss of £24.9 million in the year to December 2012.
According to The Telegraph, the firm posted pre-tax losses of £21.2 million during the previous financial year. EBITDA (earnings before interest, taxes, depreciation and amortisation) for Aston Martin in 2012 was £69.3 million.
According to media reports, in documents filed with Companies House, Aston Martin blames its situation on operating in a market that "has been severely affected by recession". The company also believes its earnings were affected by “vehicle launches in the fourth quarter”.
Aston Martin has also recently halted production of the Cygnet, in an effort to focus on its core range of sports cars.
The Financial Times reports that the recently signed deal between Aston Martin and Mercedes' AMG division will ease the costly burden of technology development for the Gaydon-based manufacturer. The deal allows Aston access to AMG resources to develop bespoke V8 powertrains and new architectures.
The deal also heralds the beginning of a new generation of Aston Martin models.
Aston Martin owner The Investment Dar bought the company as part of a consortium from Ford in 2007 for almost £500 million. Former Ducati owners Investindustrial took a 37.5 per cent stake in Aston Martin last December for a reported £150 million.