The years go by and the figures are still in the red for the Racing structure in Woking. McLaren has separated its activities into two: road cars and the “Racing” sector, which includes the Formula 1 team, the Formula E team, esports, and the Indycar team. In 2022, the McLaren Racing group saw its deficit slightly decrease compared to 2021 (\u20ac68 million), to reach \u20ac66 million in the latest balance sheet.<\/p>\n
The figures published on the website of the British Ministry of Finance are not impressive, despite an increase in revenue. In 2022, McLaren Racing group recorded \u00a3327 million in revenue, representing a 10% increase. However, it is important to note that McLaren Heritage sold a significant number of historic cars in 2021, artificially inflating this figure. If we exclude these sales, the revenue goes from \u20ac240 million in 2021 to \u20ac327 million in 2022, an increase of 47%.<\/p>\n
McLaren Racing explains this increase through the successful sponsorship contracts and the increase in hospitality to accommodate VIPs, as the year 2022 had more races than in 2021. As a result, Formula 1 activity incurred a loss of over \u20ac4M compared to a profit of \u20ac17M in 2021.<\/p>\n
The revenues linked to F1 brought in \u00a3305 million, or \u20ac350 million, in 2022, mainly from the redistribution of profits by Liberty Media and sponsors. The team that finished 5th in 2022 is estimated to have won over \u20ac120 million. Therefore, sponsors are responsible for nearly \u20ac230 million of revenue.<\/p>\n
Regarding the group, McLaren recorded a loss of 66 million euros, mainly weighed down by its interest expenses costing more than 50 million euros in 2022, compared to 21 million euros in 2021.<\/p>\n
In terms of its payroll, McLaren Racing is one of the largest structures when compared to Formula 1 teams, with over 1000 employees for the group and 914 for the main activities, including F1. The administration has 276 employees, while 638 are involved in production and design. In 2022, all employees represent over \u20ac105 million (\u20ac90 million for the F1 part).<\/p>\n
The Formula 1 team continues to generate an increase in its revenue, and this 2023 season, with a better position in the constructors’ standings, McLaren will see its share of F1-related income increase even further. If the team manages to stabilize its expenses and reduce the costs related to its credit interests, McLaren Racing could make profits as early as 2023. However, unlike Aston Martin, which is also heavily in deficit, McLaren does not have any investors to constantly bail out the company indefinitely.<\/p>\n
As of December 31, 2022, McLaren Racing Limited had provided specific amounts of guarantee to several entities. These guarantees remained unchanged from the previous year (2021) and include an amount of CHF 100,000 in favor of the Tribunal De Premiere Instance, EUR 16,873 in favor of Dresdner Bank AG, and EUR 90,060.30 in favor of Agenzia Delle Entrate, the Italian revenue agency. These guarantees are intended to anticipate any future legal or financial issues.<\/p>\n","protected":false},"excerpt":{"rendered":"
McLaren Racing has just released its 2022 financial report and it is still not very positive. The McLaren Racing group (F1, FE, and Indycar) saw an increase in revenue in 2022, but also an increase in losses, reaching a deficit of nearly \u00a358 million, which is approximately \u20ac66 million.<\/p>\n","protected":false},"author":4,"featured_media":32392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[113,245,947],"class_list":["post-1997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-business","tag-economie","tag-mclaren"],"acf":[],"yoast_head":"\n