The British luxury car brand Aston Martin Lagonda has secured a capital increase of 210 million pounds (264 million US dollars) to strengthen its balance sheet, while issuing another profit warning. This is already the second downgrade of the annual forecast within three months.

The company lowered its forecast for adjusted EBITDA in the full year 2024 to 270 to 280 million pounds, after a revision to just under 305.9 million pounds – the value for 2023 – was already made in September. At the same time, however, the company confirmed its target to achieve an adjusted EBITDA of around 500 million pounds by 2025.

The company's shares fell by up to 9.1 percent to a two-year low of 98.05 pence in early European trading on Wednesday and were last down 4.9 percent at 102.60 pence. The price loss for the year to date is 54.5 percent.

To secure funding, Aston Martin raised £111 million through a share placing led by Lawrence Stroll's Yew Tree Consortium. The new shares were issued at a price of 100 pence, representing a 7.3% discount on Tuesday's closing price. Stroll, who is also Executive Chairman of Aston Martin and majority owner of the Aston Martin F1 Team, contributed £50.5 million himself. Additionally, a private debt financing of £100 million will be raised.

Stroll, who currently holds around 9.8 percent of the issued shares, expressed optimism about the company's long-term prospects. "I am more convinced than ever that Aston Martin will create long-term value," he said in a statement.

Aston Martin struggles like many automakers with weakening global sales, especially in China, where an ongoing economic crisis is weighing on consumption. In September, the company had already revised its full-year production targets downwards.

There are also delays in the delivery of the strictly limited Valiant models. While Aston Martin initially planned to deliver most of the 38 vehicles by the end of 2024, it is now expected that about half will be handed over to customers at the beginning of next year.