I just finished a blog looking at McLaren's 1st half 2020 results:
https://karenable.com/mclarens-1st-half-2020-results/
Comments?
McLaren's 1st Half 2020 results and outlook
Re: McLaren's 1st Half 2020 results and outlook
Always interesting to hear the story behind the marques finances.
Re: McLaren's 1st Half 2020 results and outlook
The £600 million in un-amortized new product development costs is a bit of a nasty surprise......
Re: McLaren's 1st Half 2020 results and outlook
Really interesting analysis!
Re: McLaren's 1st Half 2020 results and outlook
[mention]SSO[/mention] what's you take on this?
https://jalopnik.com/mclaren-wants-to-s ... oking site
I don't have a finance hat to wear but with engineers hat on I'd say it's mental unless they plan a short-medium term move to cheaper premises.
A lot of their test work happens at IDIADA and they've a centre there already so I suppose moving more development to Spain would be a gain for efficiency and costs.
Manufacturing could go East?
https://jalopnik.com/mclaren-wants-to-s ... oking site
I don't have a finance hat to wear but with engineers hat on I'd say it's mental unless they plan a short-medium term move to cheaper premises.
A lot of their test work happens at IDIADA and they've a centre there already so I suppose moving more development to Spain would be a gain for efficiency and costs.
Manufacturing could go East?
Re: McLaren's 1st Half 2020 results and outlook
If that's about the plan to sell off Woking HQ, it's a simple sale and leaseback arrangement. Just like, if you remember, MG-Rover did "so successfully" in their last years...
It frees up cash instantly but costs you more in the long run.
It frees up cash instantly but costs you more in the long run.
The artist formerly known as _Who_
Re: McLaren's 1st Half 2020 results and outlook
Link broken Rob
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Re: McLaren's 1st Half 2020 results and outlook
https://jalopnik.com/mclaren-wants-to-s ... 1845013006
Just like those dodgy equity release schemes.
Just like those dodgy equity release schemes.
Re: McLaren's 1st Half 2020 results and outlook
It's actually not that unusual. Many big multinationals don't own their HQs or factories. It frees up cash and the lease costs get written off as an expense on the P&L.RobYob wrote: ↑Thu Sep 10, 2020 8:02 pm @SSO what's you take on this?
https://jalopnik.com/mclaren-wants-to-s ... oking site
I don't have a finance hat to wear but with engineers hat on I'd say it's mental unless they plan a short-medium term move to cheaper premises.
A lot of their test work happens at IDIADA and they've a centre there already so I suppose moving more development to Spain would be a gain for efficiency and costs.
Manufacturing could go East?