Jaguar Land Rover's Q1 FY25 results show record revenue of £7.3 billion, a 5% increase year-over-year. Profit before tax rose 59% to £693 million, driven by their Reimagine strategy.

JLR Reports Record-Breaking Q1 Revenue

Jaguar Land Rover’s Q1 FY25 results show record revenue of £7.3 billion, a 5% increase year-over-year. Profit before tax rose 59% to £693 million, driven by their Reimagine strategy.

Jaguar Land Rover Automotive plc (JLR) has released its financial results for the three months ending 30 June 2024 (Q1 FY25), showcasing strong performance driven by its Reimagine strategy.

Financial Highlights:

Revenue: £7.3 billion, marking a 5% increase year-over-year and the highest Q1 revenue on record for JLR.
Profit Before Tax and Exceptional Items (PBT): £693 million, up 59% from the previous year.
EBIT Margin: 8.9%, a 0.3 percentage point increase year-over-year.
Free Cash Flow: £230 million.

Operational Highlights:

New Range Rover Electric: Generating significant interest with around 41,000 clients on the waiting list.
Defender OCTA: The most powerful Defender to date, revealed to select clients before its public debut at the Goodwood Festival of Speed in July.
New Jaguar Development: Progressing well with prototypes now in road testing.

Strategic Investments and Initiatives:

Increased Investment: JLR has raised its investment from £15 billion to £18 billion over five years to support its Reimagine strategy.
Partnerships: JLR and Chery have signed an agreement to license the Freelander brand to the CJLR joint venture, aiming to create a portfolio of electric vehicles in China based on Chery’s EV architecture.
Employee Training: JLR has trained 20,000 employees in electrification and digital skills, with 95% of retail partner technicians now EV trained.

Sustainability Efforts:

Jaguar TCS Racing: Made history by winning the Teams’ and Manufacturers’ World Championships of the 2024 ABB FIA Formula E World Championship.
Sustainable Materials: Partnering with Pirelli to market FSC-certified natural rubber and rayon tyres, debuting on the new Range Rover Electric.

CEO Statement:

Adrian Mardell, CEO of JLR, expressed pride in the company’s performance, highlighting record revenues and a nearly 60% increase in quarterly profits year-over-year. He emphasized the progress in delivering the Reimagine strategy, with the Jaguar TCS Racing team’s success in Formula E contributing to advancements in their luxury electric vehicles.

Additional Financial Details:

Profit After Tax (PAT): £502 million, compared to £323 million in the same quarter last year.
Cash Position: Ending the quarter with a cash balance of £3.8 billion and net debt of £1.0 billion, reflecting a year-on-year improvement of £1.5 billion.
Liquidity: Total liquidity stood at £5.3 billion, including a £1.5 billion undrawn revolving credit facility maturing in April 2026.

Outlook:

Looking forward, JLR anticipates constrained production in Q2 and Q3 due to the annual summer plant shutdown and disruptions from floods at a key aluminium supplier. Despite these challenges, the company maintains its full-year financial targets of over 8.5% EBIT and achieving net cash.

JLR’s continued focus on strategic investments, innovation, and sustainability underscores its commitment to transforming into a leading modern luxury and electric vehicle manufacturer.

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