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Williams Revenue Increases
Gunk (IP Logged)
13 April, 2019 14:05
Tthe problems at Williams haven't spread to the balance sheets - yet

Grand Prix Engineering Limited and Williams Advanced Engineering Limited, announced the group's financial results for the year ended 31 December 2018.

Group revenue increased to £176.5m, from £166.2m in 2017. EBITDA for 2018 was £12.9m, compared to £10.8m in 2017.

According to the team this represents "solid results at our Formula One operation and continued progress at Williams Advanced Engineering".

Financial performance improved across both Formula One and Williams Advanced Engineering last year. The Formula One business generated revenue of £130.7m in 2018 (2017: £125.6m), supported by a non-recurring one-off item, with EBITDA unchanged at £16.0m (2017: £16.0m).

Williams Advanced Engineering revenue increased to £44.8m in 2018 (2017: £39.5m), with EBITDA of £5.1m (2017: £5.0m).


From Pitpass

 
Re: Williams Revenue Increases
Williams-123 (IP Logged)
13 April, 2019 14:45
Results at the end of 2018???

Not sure if the results will be as good at the end of 2019.

 
Re: Williams Revenue Increases
Gunk (IP Logged)
13 April, 2019 15:34
Quote:
Williams-123
Results at the end of 2018???
Not sure if the results will be as good at the end of 2019.

Maybe not. But Rokit and Orlen was not small change.

The 'one-off non-recurring item' was presumably the pay out from Stroll. Wonder how much that was?

 
Re: Williams Revenue Increases
j-s (IP Logged)
13 April, 2019 16:32
Either you get the one-off payment or you get the normal rate for giving him a seat. Either way, the group level results seem healthy. WAE growing, race team shrinking...

 
Re: Williams Revenue Increases
Mikef1 (IP Logged)
13 April, 2019 17:11
Quote:
j-s
Either you get the one-off payment or you get the normal rate for giving him a seat. Either way, the group level results seem healthy. WAE growing, race team shrinking...

How long ago did William's lose the Formula E battery contract?

 
Re: Williams Revenue Increases
j-s (IP Logged)
13 April, 2019 18:16
No idea. 2 years?

 
Re: Williams Revenue Increases
Gunk (IP Logged)
13 April, 2019 18:28
I think McLaren started this year with the Gen 2 cars. Has to be said, they did a good job with the whole-race-capable units.

 
Re: Williams Revenue Increases
Andrew Hooper (IP Logged)
14 April, 2019 04:59
Yes the battery changed occurred this year. The WAE part of the business seems really encouraging with all the technology areas that they are working in. Now developing applications in the military area. Despite the loss of the battery contact I feel that their future is looking pretty good.

 
Re: Williams Revenue Increases
IanSmithISA (IP Logged)
14 April, 2019 06:01
Good morning,

Quote:
Gunk
The 'one-off non-recurring item' was presumably the pay out
from Stroll. Wonder how much that was?

The one off payment was for £8 million but it was specified as partnership income not explicitly as a contract termination payment.

I did post some more thoughts towards the bottom of

[www.f1network.net]

The stand outs for me are WAE although profitable is consuming more group resources and increasing staff costs/number.

Off course my hobby horse of debt popped up again, Williams still has £20 million of which £10 millions is theory due in 2019, but I expect it to be rescheduled again. :-)

Unfortunately the amount RokIt are paying isn't hinted at, I know that many are saying up to £20 million, but without confirmation I ain't buying that as RokIt were in a terribly strong position.

Rich Energy had just gone to Haas and there were no other options for Williams, I could easily believe a deal where space has been loaned, you can have the rear wing unless we can sell it elsewhere. Filling the car makes it look more successful, a similar sort of thing to testing whilst underweight to impress a sponsor.

Bye

Ian



Edited 1 time(s). Last edit at 14/04/2019 06:05 by IanSmithISA.

 
Re: Williams Revenue Increases
Gunk (IP Logged)
14 April, 2019 18:57
Any thoughts on what a settlement with Mr Lowe might cost the company?

 
Re: Williams Revenue Increases
Williams-123 (IP Logged)
15 April, 2019 11:45
Quote:
Villeneuve said Williams is "no longer a racing team".
"It's a public entity that must report at the end of the year, and all they have to do is make a profit, which they have done. So they are fine," the French Canadian added.

"But if the company made $16 million in 2018, it is because not enough was spent on the racing team. The president does not want to win in F1, he just wants to make sure he makes the most for the shareholders.

"That's all that matters now," Villeneuve alleged.

 
Re: Williams Revenue Increases
Williams-123 (IP Logged)
15 April, 2019 11:48
LOOK at my above post^^^^LOOK what Villeneuve is saying.

 
Re: Williams Revenue Increases
Williams-123 (IP Logged)
15 April, 2019 11:51
Why did Williams decide to float on the stock exchange???

What a rubbish move from a once great racing team.

Williams floating on the stock exchange = dumb move (Sm8)

 
Re: Williams Revenue Increases
IanSmithISA (IP Logged)
16 April, 2019 06:19
Good morning,

Quote:
Gunk
Any thoughts on what a settlement with Mr Lowe might cost the company?

Nope, not a clue. :-)

Without knowing what sort of contractual relationship exists between Paddy and Williams it is impossible to access the loss to Paddy of losing his job, damage to his professional reputation and the potential shareholding in Williams. This would be the basis of any compensation due.

Any losses incurred by Paddy as a result of leaving a good job at Merc would in my mind only be relevant if you could show intent to never offer the shareholding and to fire Paddy before he became eligible. I see absolutely no reason to believe this to be the case.

If Paddy wants to stay in F1 I would have thought that any legal action would make him unemployable, it may be that he can explain the Williams situation at interview and possibly a bit via the press and paddock gossip.

if he doesn't want to stay in F1 then a long and nasty legal action would be possible but surely he would have to convince a court that Williams unreasonably denied him resources or the reasonable level of freedom needed to do his job? I would expect that to be a pretty hard thing to do even it were true.

My suspicion is that he will be paid whatever his contract says he is entitled to and both parties will move on as legal action would simply be too expensive and time consuming.

The only way this wouldn't happen is if Paddy is so annoyed that he is willing to burn future F1 opportunities and has money to burn in a very unclear legal case. The big problem for Paddy is that both this and last year's cars were clearly in layman's term bad as they were mostly coming last.

Bye

Ian

 
Re: Williams Revenue Increases
AlanJones (IP Logged)
16 April, 2019 06:44
And let's be fair, although the chances are real that Paddy will leave us, there are no official statements on this. So he could actually be staying. The media frenzy made it that Lowe was sidelined due to the failure over the winter. But what if he actually has personal issues? A divorce? Some medical emergency? We would all have egg on our faces. I'm not saying this is likely, but it is still a possibility.




http://oi60.tinypic.com/24eyh6f.jpg

 
Re: Williams Revenue Increases
IanSmithISA (IP Logged)
16 April, 2019 09:27
Good morning,

I certainly agree that it is possible, but I would have thought that if this were the case that some journalist somewhere would know and be willing to publish a confirmation of that fact.

Whether there is a plan for Paddy to take on a different role, such as within WAE doesn't seem to have been suggested so far as I can see, but may make sense for both sides.

Bye

Ian

 
Re: Williams Revenue Increases
j-s (IP Logged)
16 April, 2019 17:22
Villenueve's comments are interesting. Being publicly listed may require Williams to be much more careful when it comes to packaging yearly results. But come on, if you make more profit by building a better car then why in the world would they operate the business like Villenueve is implying? Doesn't make much sense.

I have no problem with being listed. If anything, it gives sponsors the peace of mind that the team is a robust ongoing concern. Not that it matters much to them, but...

Regarding the Rich Energy... there is a good article in Jalopnik about them. Lots of smoke and mirrors, bank accounts with 500 euros on them, undetectable product in the marketplace, stuff like that. I think they're a risky sponsor, at least from the very limited information we have available on them.

 
Re: Williams Revenue Increases
IanSmithISA (IP Logged)
17 April, 2019 10:59
Good morning,

Its not really worth responding to Villeneuve but.....

It strikes me as inevitable that Williams would make a substantial profit in 2018 if they could, although I am bit surprised that they did, I am pleased.

Williams knew that they were going into 2019 without Martini sponsorship and no certainty of a replacement so retaining some cash from 2018 to help the 2019 budget doesn't strike me a greed but simple planning and common sense.

JV's idea does of course ignore the fact that once you take Sir Frank's shares and then Brad's there isn't any shareholder clout to do anything that those two don't want to do.

As WGPH doesn't pay dividends it is not clear what BH gets out of it, unless he is the highest paid director not MO'D. I did note that BH's shareholding dropped last year this may be shares allocated/to be allocated to PL?

If JV was on the inside I could cite him to support my pet argument about WAE but I don't think that doing so would help. :-)

Bye

Ian

 
Re: Williams Revenue Increases
GroveF1 (IP Logged)
18 April, 2019 00:53
Villeneuve is just an over rated arrogant prat who likes the publicity of winding ppl and teams up in the media.

He needs to be put into hibernation.

 
Re: Williams Revenue Increases
shriekback (IP Logged)
18 April, 2019 08:26
Quote:
AlanJones
And let's be fair, although the chances are real that Paddy will leave us, there are no official statements on this. So he could actually be staying. The media frenzy made it that Lowe was sidelined due to the failure over the winter. But what if he actually has personal issues? A divorce? Some medical emergency? We would all have egg on our faces. I'm not saying this is likely, but it is still a possibility.

No offense, but there is no chance Paddy will remain with Williams in any capacity. None. It is “possible” only in the sense that it is not a logical contradiction to think it.

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