Gaydon, UK, 29 January 2025: Jaguar Land Rover Automotive plc (“JLR”) today reports its financial results for the three months to 31 December 2024 (Q3 FY25).
JLR delivered a robust third quarter in FY25, with record Q3 revenue, the highest EBIT margin in a decade and a ninth successive profitable quarter.
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Jaguar Land Rover Automotive plc today reports its financial results for the three months to 31 December 2024 (Q3 FY25)
JLR delivered a robust performance in Q3 FY25 with record Q3 revenue, the highest EBIT margin in a decade, and a ninth successive profitable quarter. Revenue for the quarter was £7.5 billion, up 2% versus Q3 FY24, while YTD revenue at £21.2 billion was flat year‑on‑year. Compared to the prior quarter, revenue was up 16%, driven by higher wholesales following supply disruptions in the second quarter of FY25.
Profit before tax and exceptional items (“PBT”) in the quarter was £523 million, down from £627 million a year ago, while YTD profit before tax was £1.6 billion, up 7% YoY and the best Q3 YTD PBT in a decade. EBIT margin was 9.0%, up 0.2 percentage points compared to Q3 FY24 and the best Q3 EBIT margin in a decade. The increase in profitability year‑on‑year reflects higher volumes, improved mix and a reduction in depreciation and amortisation (D&A) driven by Castle Bromwich production cessation and ICE end of life extensions, partially offset by an increase in VME, warranty costs and unfavourable FX revaluation. Profit after tax (“PAT”) in the quarter was £375 million, compared to a profit after tax of £592 million in the same quarter a year ago.
Free cash flow for the quarter was £157 million. At the end of the quarter, the cash balance was £3.5 billion and net debt was £1.1 billion, with gross debt of £4.6 billion. Total liquidity was £5.1 billion, including the £1.6 billion undrawn revolving credit facility.
Looking ahead, while mindful of the challenging economic backdrop, the Company is on track to achieve its profitability and cash flow targets in FY25, with EBIT margin ≥8.5% and positive net cash.