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25 February 2021 Aston Martin Lagonda Global Holdings plc Preliminary results for the 12 months to 31 December 2020 FY 2020 results in - line with expectations New leadership team , technology partner and funding in place Successful DBX launch , 1,516 units wholesaled - Supply to demand rebalance for GT / Sport near completion , ahead of plan Q4 strongest quarter with revenue growth and positive adjusted EBITDA Strong demand for both DBX and GT / Sport £ m 31 - Dec - 20 31 - Dec - 191 % change Q4-20 Q4-191 % change Total retails² 4,150 6,136 ( 32 % ) 1,398 1,654 ( 15 % ) Total wholesales2 3,394 5,862 ( 42 % ) 1,839 1,923 ( 4 % ) Revenue 611.8 980.5 ( 38 % ) 341.8 330.5 3 % Adjusted EBITDA³ ( 70.1 ) 118.9 n.m. 47.5 55.2 ( 14 % ) Adjusted operating ( 224.9 ) ( 9.9 ) n.m. ( 9.7 ) 14.4 n.m. ( loss ) / profit³ Total adjusting operating items before tax4 ( 98.0 ) ( 42.1 ) n.m. ( 84.1 ) ( 36.7 ) n.m. Operating loss ( 322.9 ) ( 52.0 ) n.m. ( 93.8 ) ( 22.3 ) n.m. Loss before tax ( 466.0 ) ( 119.6 ) n.m. ( 158.1 ) ( 24.8 ) n.m. Net debt5 ( 726.7 ) ( 987.6 ) ( 726.7 ) ( 987.6 ) 12019 restated see note 2 of the Financial Statements for detail ; 2Number of vehicles including specials ; 3 Alternative performance measures are defined in the Appendix ; 4 Adjusting items are detailed in note 5 of the Financial Statements ; 5 Includes lease liabilities ( 31 December 2020 : £ 103m , 31 December 2019 : £ 111m ) Financial Highlights • • • • Retail¹ sales of 4,150 vehicles ( down 32 % ) with Covid - 19 impacting dealer operations ; improved performance in Q4 with full quarter of DBX sales Wholesales2 of 3,394 vehicles ( down 42 % ) reflected action to reduce dealer stock levels and Covid - 19 impact ; Q4 included 1,171 DBX to meet customer demand and deliver dealer stock Revenue declined to £ 612m and adjusted EBITDA to £ ( 70 ) m , principally due to reduced wholesales Q4 strongest quarter , material improvement versus Q3 , with 3 % revenue growth and positive adjusted EBITDA due to full quarter of DBX , 32 Specials ( Q3 : 10 ) and reduction in total customer and retail financing support Operating loss of £ ( 323 ) m includes £ 98m of adjusting operating items , largely the impairment of capitalised R & D due to technology and cycle plan changes Free cashflow³ of £ ( 539 ) m reflects the operating loss , a working capital outflow of £ 109m , capital expenditure of £ 261m and net interest paid of £ 80m ; Q4 free cashflow £ ( 26 ) m Refinancing to strengthen financial resilience and support growth ambitions resulted in increased year - end cash of £ 489m ( December 2019 : £ 108m ) and net debt substantially lower at £ ( 727 ) m ( December 2019 : £ ( 988 ) m ) with extended debt maturity profile to 2025 and 2026 ; Shareholders ' equity increased to £ 804m ( December 2019 : £ 330m ) . Operational Progress • • Transformation plan - " Project Horizon " - launched to drive growth , agility and efficiency Significant progress rebalancing supply to demand and transitioning to a build to order model . GT / Sport dealer stock reduced by 1,580 units ; de - stock due to be largely complete in Q1 2021 , ahead of original expectations Successful DBX launch with strong customer demand and first new variant planned for Q3 2021 Initial efficiency programme well underway with headcount c.300 lower than April 2020 ¹Dealers sales to customers ( some Specials are direct to customer ) ; 2 Company sales to dealers ( some Specials are direct to customer ) 3 Operating cashflow less capital investment and net cash interest 1