Despite a stunning year on track, Red Bull actually saw its profits drop in 2023.
In the 2023 F1 season, Red Bull Racing experienced a significant drop in profits despite achieving remarkable success on the track, securing 21 victories and setting a new constructors’ championship points record with 860 points over 22 grands prix. Max Verstappen’s dominant performance, winning 19 races, led to one of the most dominating championship victories in history. However, the separate entity from Red Bull GmbH reported a profit of only £1.296 million for the year, a notable decrease from the previous year’s £2.057 million profit. Despite a higher turnover of £307 million in 2023 compared to £278 million in 2022, increased operating expenses resulted in a before-tax profit of £3.050 million, slightly higher than the £2.272 million in the previous year. Director remuneration saw a significant increase, with the two directors, Christian Horner and Helmut Marko, seeing their total remuneration rise from £3.447 million in 2022 to £7.190 million in 2023, with the highest-paid director, likely Horner, receiving a salary of £7 million in 2023.
