Jaguar Land Rover (JLR) has once again proved its positioning in the automotive industry, reporting record-breaking revenue of $36.3 billion for the fiscal year ending March 31, 2024 (FY24). The fourth quarter alone saw revenue soar to $9.9 billion, marking an 11% increase compared to Q4 FY23 and a 6% rise from Q3 FY24. JLR’s stellar performance is highlighted by a profit before tax and exceptional items (PBT) of $2.75 billion for FY24, the highest since FY15. In the fourth quarter alone, PBT stood at an impressive $827 million, up from $460 million in the same period the previous year. Profitability reflects increased volumes and reduced material costs, offset by heightened marketing spend.
Additionally, free cash flow reached a record $2.9 billion for FY24, with $1.1 billion generated in Q4 alone. This solidifies JLR’s financial position, with net debt reduced to $880 million by the end of FY24. The brand’s success comes thanks to sustained global demand for its luxury, particularly the Range Rover and Defender brands. The Range Rover Electric, launched in December 2023, has seen significant interest with over 28,700 sign-ups to the waiting list.
JLR remains focused on sustaining its order book, which stood at approximately 133,000 vehicles at the end of FY24, comprising of Range Rover, Range Rover Sport, and Defender models. Adrian Mardell, CEO of JLR, expressed appreciation to his clients, employees, suppliers, and partners for their contributions to the company’s success. He emphasized JLR’s dedication to delivering modern luxury electric vehicles and enhancing the overall client experience as part of its ongoing Reimagine strategy. View all Jaguar and Land Rover models for sale on duPont REGISTRY by clicking the link below.
Source: Jaguar Land Rover (JLR)
