26 billion euros in 2022-23

The financial year decided to be positive ended with Jaguar Land Rover. At the end of the financial year 2023 (April 2022-March 2023) the British car group Tata Motors recorded a revenue of 22.8 billion pounds (over 26 billion euros), up 25% compared to the previous year, thanks also to further improvements. of the chip offer.

Jaguar Land Rover numbers in fiscal year 2023

For the entire fiscal year 2023, the free cash flow was 521 million pounds (about 600 million euros) and a positive EBIT margin of 2.4%. Profit before tax and £161m of special items represented a loss of £64m, £348m better than a year ago. Loss after tax for the full year was £60m, £762m better than a year ago.

As a result of the strong cash flow, net debt was reduced to £3 billion and liquidity to £3.8 billion, even after paying off nearly £0.9 billion of debt in the fourth quarter. Total liquidity was £5.3bn including loan servicing rotating an unused sum of £1.52 billion.

The improved results in the quarter show a significant improvement in numbers as chip restrictions have continued to become easier. Total volume for the fourth quarter was 94,649 units (excluding the Chery Jaguar Land Rover China joint venture), up 24% from the same quarter last year. Compared to the previous year, sales volumes were higher in all markets, led by Overseas (+62%), UK (+24%), Europe (+22%), China (+17%) and North America ( +2% )

Forecast

“For the next financial year, while we are aware of the remaining headwinds, our aim is to grow EBIT margins to over 6% and generate good free cash flow, to further reduce our debt, while increasing investment to £3. billion,” he said. Adrian Mardell, interim managing director of Jaguar Land Rover. “With the combined strength of our people, we will continue to execute on our Reimagine strategy. Demand for our unique luxury vehicles remains strong and with a pipeline of in-demand electric models on the horizon, I am excited and confident about our future of the future.”

Investing in innovation: the Reimagine strategy

Meanwhile, the Jaguar Land Rover group continues to work on its electrification and digital transformation, where a £15 billion five-year plan has been launched. Already 11,300 employees and partners have been retrained based on the electrification of the model, while another 11,625 are now continuing their training.

Commenting on the company’s performance, JLR said, “JLR delivered many positive results for the fourth quarter. We increased production and delivered revenue, profit, free cash flow and revenue growth as the chip offering continued to improve.