The Aston Martin Formula 1 team has declared a loss of $53m for the 2022 season, an increase of almost $9m on the deficit accrued the previous year.

The team made a bigger loss despite upping its turnover from sponsorship and prize money by over $32m, with the numbers reflecting an overall increase in costs in the first year of the new regulations.

Following a reorganisation, the team now operates under the banner of AMR GP Limited, which is a subsidiary of AMR GP Holdings Limited, although the headline numbers across the two entities are in effect the same.

Figures released to the public domain this week show that AMR GP generated turnover in 2022 of $188,728,000, up from $150,438,000 in 2021.

The overall cost of sales, a measure of what the team actually spent to go racing, rose to $152,046,00 from $107,735,000.

With administrative expenses and other income such as government grants taken into account, that resulted in a loss for 2022 of $52,915,000, compared with $43,332,000 in 2021.

Overall staff costs for the group were listed as $54,983,000, an increase of around 10% on the previous year.

Aston Martin logo on the nose at Spanish GP 2021

The group declared an overall headcount of 504, with 81 people in administration and 423 employed in “design, production and technical,” up from 401 in 2021, reflecting the team’s ongoing expansion.

In a reference to the substantial investment in the new facilities at Silverstone, the company noted that “as of December 31 2021 the group was committed to capital expenditure of $64,985,490 relating to the development of the Aston Martin F1 Campus.”

The marketing contribution to the F1 team from the Aston Martin Lagonda road car company for 2022 is listed as £19,208,000, which was down by £844,000 on the previous year.

One intriguing detail is that in 2022 the team paid Falcon Racing Services Inc $1,835,000 for the provision of the racing services of Lance Stroll, an amount that was actually $225,000 less than in 2021. Falcon in turn provided $1,125,000 in sponsorship income in 2022.

The company also made it clear that like other F1 teams it is now broadening its horizons with the recently created Aston Martin Performance Technologies division, which “takes our learnings from the racetrack and applies them to real world problems.”

It added that the new entity “took on its first contract during the year [2022] and has a robust pipeline of opportunities as part of its future growth plan.”

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