P1racenews AI automatic summary:
Red Bull’s continued success on track in 2024 was mirrored off track in its latest financial accounts
Red Bull’s profits increased in 2024 due to Max Verstappen winning his fourth consecutive F1 drivers’ championship. The team’s turnover rose by £7 million to £314.409m in 2024. Gross profit also increased, resulting in an overall profit after tax of £1.681 million.
Verstappen’s impressive performance was highlighted as he clinched his fourth title, outscoring Lando Norris by 63 points. The directors emphasized that exceptional on-track performance and strong partnerships were key indicators of success.
The team celebrated a successful season with Verstappen’s nine race wins and five podium finishes, totaling 437 points. Despite facing a challenge in the second half of the season, Red Bull maintained a strong performance.
Increased revenues from prize money and sponsorships, along with new commercial partnerships, contributed to Red Bull’s success in 2024. Former director Christian Horner saw a salary increase to £7.046m before his departure in July 2024.
