user icon

Improved financial results for Williams in first half of 2017

  • Published on 26 Sep 2017 11:48
  • comments 1
  • By: Rob Veenstra

Williams Grand Prix Holdings PLC today announced the Group's interim results for the six months to 30 June 2017. WGPH is the holding company of the Williams group of companies, which includes Williams Grand Prix Engineering Limited.

Group revenue grew to £85.9m for the period, compared to £80.0m in the same period in 2016. EBITDA improved from a profit of £7.8m in 2016 to a profit of £10.4m in 2017. The Group generated operating free cash flow of £10.9m for the six-month period (2016: £13.0m).

The Formula One business generated revenues of £65.5m (2016: £51.3m), with an EBITDA of £10.1m (2016: £4.1m). Williams Advanced Engineering generated revenues of £19.9m (2016: £20.6m) with an EBITDA profit of £3.4m (2016: £3.5m).

Mike O'Driscoll, Group Chief Executive Officer, commented: "These results demonstrate our financial stability as a group, and represent a solid platform from which we can continue to develop our Formula One and advanced engineering operations."

"The Formula One business generated both increased revenues and profit versus the first half of 2016, largely driven by non-recurring one off items and the revenues associated with project work within that period. We are delighted to be celebrating our 40th year in Formula One during 2017, and we are confident that with recent additions to the team, coupled with investment in facilities we will accelerate our progress in the years ahead."

"We are pleased that Williams Advanced Engineering has consolidated its financial position, while simultaneously making further investments in its core capabilities. During the first half of this year we have secured government APC funding for a battery build programme and unveiled the FW-EVX, a ground-breaking lightweight electric vehicle platform concept that showcases our state-of-the-art innovation and proprietary technology. Our growing reputation and expanding customer base support our belief that we will continue to grow the business and create a sustainable and profitable future."

"We continue to face the cost pressures associated with our determination to enhance our Formula One performance and in growing Williams Advanced Engineering, however, we remain confident in our ability to meet these demands. Wider economic pressures and the evolving Formula One landscape will continue to impact our near-term results."

Replies (1)

Login to reply
  • Good, now they just need to improve their car in F1.

    • + 0
    • Sep 26 2017 - 16:09

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Team profile

Show full profile

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28 2021
Bahrain
16 - Apr 18 2021
Italy
30 - May 2 2021
Portugal
7 - May 9 2021
Spain
20 - May 23 2021
Monaco
4 - Jun 6 2021
Azerbaijan
18 - Jun 20 2021
France
25 - Jun 27 2021
Austria
2 - Jul 4 2021
Austria
16 - Jul 18 2021
United Kingdom
30 - Aug 1 2021
Hungary
27 - Aug 29 2021
Belgium
3 - Sep 5 2021
Netherlands
10 - Sep 12 2021
Italy
24 - Sep 26 2021
Russian
8 - Oct 10 2021
Japan
8 - Oct 10 2021
Turkey
22 - Oct 24 2021
United States of America
5 - Nov 7 2021
Mexico
12 - Nov 14 2021
Brazil
19 - Nov 21 2021
Qatar
3 - Dec 5 2021
Saudi Arabia
10 - Dec 12 2021
United Arab Emirates
-
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28 2021
16 - Apr 18 2021
30 - May 2 2021
7 - May 9 2021
20 - May 23 2021
Monaco Monte Carlo
4 - Jun 6 2021
Azerbaijan Baku City Circuit
18 - Jun 20 2021
France Paul Ricard
25 - Jun 27 2021
Austria Red Bull Ring
2 - Jul 4 2021
Austria Red Bull Ring
16 - Jul 18 2021
United Kingdom Silverstone
30 - Aug 1 2021
Hungary Hungaroring
27 - Aug 29 2021
3 - Sep 5 2021
Netherlands Circuit Zandvoort
10 - Sep 12 2021
Italy Monza
24 - Sep 26 2021
Russian Sochi Autodrom
8 - Oct 10 2021
8 - Oct 10 2021
Turkey Istanbul Park
22 - Oct 24 2021
United States of America Circuit of the Americas
5 - Nov 7 2021
12 - Nov 14 2021
Brazil Interlagos
19 - Nov 21 2021
3 - Dec 5 2021
Saudi Arabia Jeddah Street Circuit
10 - Dec 12 2021
United Arab Emirates Yas Marina Circuit
-
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar