Aston Martin Lagonda, the British luxury carmaker, has held its full-year guidance after deliveries of its Valhalla hybrid supercar lifted margins.
Revenue for the nine months to September rose 38% to £1,017.3 million.
Gross margin improved to 35.2% from 28.3% a year earlier, with the third quarter reaching 37.4%.
Adjusted EBIT, a measure of operating profit before one-off items, showed a loss of £133.8 million, narrowing from £172.1 million.
The company delivered 127 Valhalla coupes in the third quarter, taking the year-to-date total to about 350.
It still expects roughly 500 of the cars in 2026 and gross margin in the high 30s%.
Core sales soften
Total wholesale volumes rose 12% to 3,762 over the nine months, but were flat in the third quarter at 1,431.
Core volumes, which exclude limited-run Specials such as the Valhalla, fell 9% in the quarter to 1,304.
Aston Martin said this reflected a deliberate move to a more balanced production pace, and that retail sales continued to outpace wholesale by more than 20%.
Europe excluding the UK fell 20% in the quarter, and the SUV range dropped 14%.
The UK and the Americas grew 26% and 11% respectively.
Average selling price across all cars rose 25% to £243,000 over the nine months.
Cash and debt
Free cash outflow fell 46% to £225.2 million for the nine months, against £415 million a year earlier.
Net debt rose to £1,572.3 million from £1,380.3 million at the end of 2025.
That followed a new £550 million debt financing in July, led by HPS Investment Partners, which carries interest at 6.75% over the SONIA benchmark rate.
Liquidity stood at £321.6 million.
Pre-tax loss narrowed to £231.3 million from £252.7 million, helped by a gain on selling the Aston Martin F1 naming rights.
Higher financing costs, including a £11 million non-cash loss on revaluing US dollar debt, partly offset the operating gains.
The company said the Middle East conflict and US tariff uncertainty remain risks.
Two new Specials were announced: the Valhalla Spider, with deliveries from the third quarter of 2027, and Valen, billed as the world's most powerful front-engined production car.
Adrian Hallmark, chief executive, said the results showed "tangible and consistent progress towards the financial transformation of Aston Martin".
