Williams F1 announces a €101M loss, reflecting continued investments in infrastructure and long-term performance improvements for future competitiveness.
Alexander Albon and Logan Sargeant scored 28 points, placing Williams seventh in the standings, ahead of AlphaTauri (now RB F1), Alfa Romeo (now Stake F1), and Haas F1.
The financial statements for Williams Grand Prix Engineering reveal that while revenue declined, the team continued to heavily invest in upgrading its facilities to remain competitive with its rivals.
The 101 million euro loss in 2023 contrasts with a 22 million euro loss the previous year. Revenue dropped from 171 to 152 million euros, reflecting the team’s 2022 performance, when it finished last in the championship.
“Although the losses have increased compared to 2022, this aligns with expectations and the company’s strategy to continue investing across all areas to drive on-track and commercial performance in the pursuit of medium- and long-term success,” the team explained in a statement.
“Revenue was lower in 2023 due to reduced commercial rights income tied to the team’s 10th-place finish in the 2022 Constructors’ Championship.”
“The significant on-track performance improvement in 2023 is a result of continued investment in infrastructure, transformation, and people since 2020. The team’s long-term goal remains returning to the front of the grid through ongoing investment in leading-edge technology and personnel.”
Williams, acquired by Dorilton Capital in 2020, is currently eighth in the championship after the first 18 rounds of 2024. The team highlighted that its 81 million euros in assets provide “a strong financial base to pursue its long-term strategy of returning to the front of the grid and becoming financially viable.”
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Williams F1 Reports Major Loss, Focuses on Future Gains Williams F1 Reports Major Loss, Focuses on Future Gains
