McLaren Automotive tops list of Britain’s growing companies
1 Oct 2017
McLaren Automotive has been announced as Britain’s leading mid-market growth company in a national survey released today.
Following another record-breaking year for vehicle sales and financial performance, the world-renowned creator of luxury sports and supercars has been ranked as the number one company overall in The Sunday Times Top Track 250 league table.
The Top Track 250 ranks some of Britain’s biggest companies by sales, growth and profitability.
McLaren Automotive saw sales rise 44% to £650M in 2016 with profits more than doubling to £66M due to rising demand from North America and Europe.
Last year, the company sold a record 3,286 cars. A 2,100-strong workforce designs, develops and hand-assembles cars at its global headquarters at the McLaren Production Centre, in Woking, Surrey.
Profit before tax of £9.2M from an annual sales revenue of £649.8M in 2016 meant McLaren Automotive achieved a fourth consecutive year of profitability in only six years, since start of sales in 2011. This was an increase in profit before tax of 70% compared to the £5.4M reported in 2015.
Operating profit of £65.8M in 2016 was the company’s highest ever, standing at 10% of turnover and representing a 180% increase over 2015.
As part of its long-term Track22 business plan, the company plans to release 15 new models or derivatives by the end of 2022. The first car launched under the Track22 plan was the McLaren 720S which has already sold out for this year with 1,500 orders taken.
Given McLaren’s proven track-record for technology firsts - from introducing carbon-fibre into Formula 1 to the P1TM hypercar, the world’s first hybrid in that segment - the company is committed to investing heavily in research and development.
During 2016 alone, McLaren Automotive invested £129.1M in new projects for its three defined product families, the Sports Series, Super Series and Ultimate Series.
This will take the company towards its objective of producing more than 4,500 vehicles annually by the end of 2022, with at least 50% featuring hybrid powertrain technology.
McLaren Automotive is the largest part of the newly formed McLaren Group, a single corporate structure that also includes a Formula 1 racing team and technology business.
“Following a record 2016 and successful new product launches this year, to be ranked top of the Top Track 250 is fantastic further recognition for McLaren Automotive. It’s also testament to each and every one of our dedicated and skilled 2,100 strong workforce, and indeed our valued global Partners and dedicated suppliers, that we have been able to achieve this and something we should all justifiably be proud of.”
Mike Flewitt, Chief Executive Officer, McLaren Automotive.
Notes to Editors:
A selection of high resolution images accompanying this release is available to download from the McLaren Automotive media site – cars.mclaren.press
About McLaren Automotive:
McLaren Automotive is a British manufacturer of luxury, high-performance sports and super cars, located at the McLaren Technology Centre (MTC) in Woking, Surrey. For the past 30 years, McLaren has pioneered the use of carbon fibre in vehicle production and since introducing a carbon chassis into racing and road cars with the 1981 McLaren MP4/1 and 1993 McLaren F1 respectively, McLaren has not built a car without a carbon fibre chassis.
Following the global launch of McLaren Automotive in 2010, the groundbreaking 12C was revealed in 2011, the 12C Spider in 2012, and the limited-run McLaren P1™ went into production in 2013. In keeping with its plan to introduce a new model each year, the company unveiled the 650S, in Coupé and Spider form in 2014, while 2015 proved to be a year of unprecedented growth of the product portfolio with five new models launched across the full range. The strictly limited edition 675LT Coupé premiered at the Geneva Motor Show alongside the track-only McLaren P1™ GTR which, with 1,000PS, became the most powerful model ever produced by the brand. The much-anticipated Sports Series became the third – and final – model tier in the McLaren range with the 570S Coupé and 540C Coupé debuting in New York and Shanghai respectively, less than one month apart. The end of 2015 saw the launch of the fifth model, the 675LT Spider, which was as a direct response to customer demand. The year also saw the end of production for the first model in the Ultimate Series as the 375th McLaren P1™ was completed, closing what had become a defining year for the British brand. 2016 continued where 2015 had left off with the introduction of the 570GT - a second bodystyle for the Sports Series and the most luxurious car McLaren has ever built, as well as the 570S GT4 and 570S Sprint track variants. 2016 also marked the introduction of the company’s new business plan, Track22, which sees the company investing £1B in Research and Development to deliver 15 all new cars or derivatives by the end of 2022, of which at least 50% will feature hybrid technology. The uplift in sales in 2016 also saw the launch of the second shift at the McLaren Production Centre as well as the company’s third year of profitability in just six years of trading. In March 2017, the second-generation Super Series was introduced at the Geneva Motor Show with the global premiere of the McLaren 720S. The first convertible model in the Sports Series, the 570S Spider, was revealed in June 2017 and made its public debut at the Goodwood Festival of Speed.
McLaren Automotive Partners
To support the development, engineering and manufacture of its range of innovative and highly acclaimed sports cars, McLaren Automotive has partnered with world leading companies to provide specialist expertise and technology including, AkzoNobel, Kenwood, Pirelli, Richard Mille and SAP.
Visit cars.mclaren.com for more details.
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