Jaguar Land Rover (JLR) has recently shared a remarkable financial report for Q2 FY24, showcasing sustained upward momentum with a revenue leap to $8.4 billion, a 30% year-over-year increase. The impressive figures reflect the British automaker’s strength and stability, marking a 42% surge in six-month revenues to a record $16.2 billion, compared to last year’s $11.8 billion. This substantial revenue boost comes thanks to the ease of supply conditions, enabling a 29% rise in vehicle deliveries and a favorable sales mix.
The quarter’s profitability mirrored this positive trajectory, flipping a past loss to a pre-tax profit of $538 million, with an EBIT margin soaring to 7.3%. Profit after tax proved strong at $331 million, demonstrating the brand’s turnaround from previous downturns. JLR’s strategic financial management was further highlighted by a successful $365 million free cash flow and a proactive debt reduction, showcased by a significant bond buyback move.
JLR’s order book remains packed with over 168,000 client orders, primarily driven by high demand for luxury models like the Range Rover, Range Rover Sport, and the iconic Defender, which jointly contribute to 77% of total orders. With anticipations set for a gradual rise in H2 FY24 production volumes, JLR projects its commitment to surpass $2.4 billion in free cash flow and taper net debt to below $1.2 billion by the end of FY24. View all Jaguar and Land Rover models currently for sale on duPont REGISTRY by clicking the link below.
Source: Jaguar Land Rover
