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ReprintsSpyker Cars posts big 2007 loss
Company sales up in first quarter of 2008
Automotive News Europe
March 28, 2008 12:29 CET
AMSTERDAM (Thomson Financial) -- Spyker Cars said its full-year net loss widened to 72.075 million euros from 1.341 million euros in 2006, but said production and sales rose sharply in the first quarter of this year. The Dutch luxury carmaker said 12 cars were produced and 18 sold in the first quarter, adding that it expects sales and production will again rise sharply in the second quarter. It said production and sales are primarily benefiting because the flow of parts and components has been restored. For 2008, Spyker Cars said the Spyker C8 Aileron model will go in production in the third quarter. Spyker Cars also said it will seek "an aggressive expansion" in its global dealer base in 2008 to prepare distribution for its Spyker D8 Peking-to-Paris, which will go into production in 2009. The company said its 2007 results were marked by heavy losses in the sale of its Formula One business and car business as well as in the GT racing activities. "2007 was a dramatic year, the likes of which the company had never seen before and which we would like to leave behind us as soon as possible," CEO Victor Muller said. He added that now that Spyker Cars has been recapitalized, through loans and a capital contribution from Snoras Bank in Lithuania, the company has seen a remarkable turnaround in just three months. "The Company is better positioned than ever before and ready for its next phase: controlled growth leading to profitability," Muller said. |
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