Aston Martin Lagonda : Weak earnings, but we don’t expect the worst (yet)
>Poor Q3, revised guidance but still too optimistic in our view - AML released Q3 results yesterday morning which came out lower than expected. Profitability and FCF disappointed yet again, particularly concerning given the group’s fragile financial position (net debt of £ 0.8bn, i.e. 5x EBITDA). Following this release, the group has revised its 2022 guidance downwards but confirmed its medium-term targets. We, meanwhile, still consider these two guidance items too o...
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