P1racenews AI automatic summary:
Alpine F1 team made profit of £26.2m in 2022
Thanks to the arrival of new title sponsor BWT and increased prize money, the team’s income rose from £201,485,000 in 2021 to £249,038,000 in the previous year, a gain of 23.6%. The cost of sales also increased, but at a slower rate of 21.6%, from £145,264,000 to £170,395,000. Despite inflation impacting operations, the team’s disciplined cost control led to an improved operating margin of 37%, resulting in an operating profit of £36.6m, surpassing the previous year’s figure by £9.5m. However, the final post-tax profit of £26,214,000 was actually down by £2.9m. Renault’s marketing contribution to the team’s turnover also decreased from £60.6m to £42.2m, reflecting increased revenue from other sources. The team’s headcount increased from 820 in 2021 to 871 in 2022, with most of the rise being in administration. Moreover, Renault briefly took full ownership of the team through its subsidiary Grigny (UK) and the team also gained new shareholders, including financial entities Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, with actor Ryan Reynolds among those involved. Additionally, the FIA approved Andretti’s application for an 11th F1 team slot.
Source: motorsport
