Lotus Clawing Back to Financial Soundness

Since Dany Bahar’s ousting and the arrival of new Lotus CEO, Jean-Marc Gales, I have been a huge supporter of the brand. It’s been making great decisions and, more importantly, creating amazing cars the world loves. So, it shouldn’t come as a surprise that Lotus has announced it’s on financial solid ground and working toward profitability.

In the 2016-17 fiscal year, Lotus pulled off a positive earnings before interest, tax, depreciation and amortization (EBITDA) of £2 million. While that’s not much relative to the big-boys, it is huge considering Lotus showed a £16.3 million EBITDA loss in 2015-16.

Not as great, but still a significant improvement, Lotus also has improved from a £41.2 million profit before tax loss in 2015-16 to just an £11.2 million loss overall in 2016-17. In the last six months of 2016-17 alone, the company showed a massive £10 million improvement in PBT.

With it back on solid ground, Lotus plans to return to PBT profitability by the end of the 2017-18 fiscal year. And if Lotus continues developing amazing new vehicles like the Evora GT430 and Exige Cup 380, I couldn’t imagine this being much of a struggle.

Stay tuned for updates.