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McLaren Group's 2013 financial results show strong financial performance

From McLaren Group

Financial results of the McLaren Group show that revenues were up 7.5% in 2013.

The results made public show that the Group recorded an £18.8m pre-tax profit, resulting from increased revenues of £268m.

The Group made significant progress towards becoming a global and increasingly diversified high-technology company. It is on a solid financial footing, is continuing to invest heavily in R&D and is well placed to deliver future growth.

McLaren Group revenues grew by 7.5% in 2013 as the businesses continued to apply its cutting-edge technologies into new markets, while also increasing income from sponsorship and Formula 1 prize money.

The McLaren Mercedes Formula 1 team continued to be extremely well supported by its partners, who include blue chip companies such as SAP, ExxonMobil, Santander, Hugo Boss, GSK, Hilton, AkzoNobel, Tag Heuer and Diageo, many of whom have partnered with McLaren for decades.

During 2013 McLaren engaged in exciting technology projects, including participating in a deep technology partnership with GSK, supporting Team GB in its build up to the Winter Olympics and supplying electronic systems to all teams in Formula 1, NASCAR and IndyCar.

In May 2013 Honda Motor Company announced its planned re-entry into F1 with McLaren in 2015. This signals a significant transition for McLaren from its arrangements with Daimler to its new and exciting partnership with Honda.

McLaren operates a unique F1 business model achieving high revenues from both prize monies and sponsorship. Remaining independent whilst maintaining a strong partnership with a global automotive OEM has been key to the company’s success and will continue to be so in future.