P1racenews AI automatic summary:
Alpine F1 team boasts £26.2M profit in 2022
Alpine’s profits saw a significant increase from 2021 to 2022, rising from £201,485,000 to £249,038,000. This improvement was attributed to a disciplined approach to cost control and an operating margin improvement of 37%. However, overall spending by the team also increased by 21.6%. While the operating profit of £33.6m was higher than the previous year, the post-tax profit of £26.2m actually decreased. Despite the departure of key technical personnel in 2023, including the Team Principal, Alpine’s F1 team is not up for sale, according to Renault Group CEO Luca De Meo. Additionally, Alpine sold a 24% stake to investors, including Ryan Reynolds and Rob McElhenney, to raise funds for merchandising, sponsorship, and hospitality. Although Alpine’s success on the track remains uncertain, the newfound investment and profitability provide reasons for optimism in the future.
Source: Motorsport Week
