Motorsport Week
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

McLaren Group reveals 61 per cent revenue reduction

by Phillip Horton
5 years ago
A A
0
FIA to closely monitor McLaren’s Mercedes switch
Share on FacebookShare on Twitter

McLaren Group has posted a substantial year-on-year reduction in revenue for the first quarter, with its Formula 1 team also suffering, ostensibly due to the coronavirus pandemic.

McLaren Group is composed of Automotive, Applied and Racing, with its Formula 1 team operating in the latter of the three.

The Group revenues for Q1 2020, released on Thursday, stand at £109m, a reduction on £284 compared to the same period in 2019.

Its reported EBITDA now stands at -£81m, down from £22m while post-tax losses increased from £20m to £110m.

RelatedPosts

Max Verstappen has dismissed doubts regarding Red Bull's 2026 prospects

Max Verstappen denies doubt over 2026 Red Bull F1 prospects behind Mercedes talks 

9 hours ago
Charles Leclerc (MON) Ferrari SF-25. 06.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Race Da

Ferrari to test long-awaited F1 upgrade ahead of Belgian GP

9 hours ago

McLaren Racing’s revenues were down £4.4m on Q1 2019, a figure the team attributed to the lower Formula 1 prize fund due to the season having yet to start, as well as last year’s figure being swelled by the sale of three heritage cars.

It noted that this loss has been partially offset by a year-on-year increase of £4.1m in sponsorship.

It was confirmed earlier this week that the Group will be making over a quarter of its 4,000-strong staff redundant, with approximately 70 of these personnel being axed from the Formula 1 team.

The company has outlined further cost-saving initiatives, including a reduced spend in sales and marketing, events, motorsport and travel.

Staff that have not been furloughed under the UK government’s scheme have been asked to take a reduced salary, while no bonuses will be paid for 2020.

The company is also working with suppliers in order to help its cash flow during the Q2 2020 period.

A corporate restructure process is also underway in order to safeguard the company’s future.

It has warned that its Q2 figures are “expected to be in line with Q1” and is optimistic of stronger Q3 and Q4 results that will be “dependant on global recovery from Covid-19.”

Tags: F1McLaren
Share234Tweet125Share

Related Posts

Max Verstappen has dismissed doubts regarding Red Bull's 2026 prospects
Formula 1

Max Verstappen denies doubt over 2026 Red Bull F1 prospects behind Mercedes talks 

9 hours ago
Charles Leclerc (MON) Ferrari SF-25. 06.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Race Da
Formula 1

Ferrari to test long-awaited F1 upgrade ahead of Belgian GP

9 hours ago
Mohammed Bin Sulayem (UAE) FIA President. 18.05.2025. Formula 1 World Championship, Rd 7, Emilia Romagna Grand Prix, Imola, Italy, Race Day
Formula 1

FIA president confident F1 return to V8 engines ‘is happening’

10 hours ago
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Upcoming Races

#EventDate
13Belgian GP25-27 July
14Hungarian GP01-03 August
15Dutch GP29-31 August
16Italian GP05-07 September
17Azerbaijan GP19-21 September

Click here for the full 2025 F1 calendar

Drivers’  Standings

#DriverPts
Oscar Piastri234
Lando Norris226
Max Verstappen165
George Russell147
Charles Leclerc120
Lewis Hamilton103
Andrea Kimi Antonelli63
Alexander Albon44
Nico Hulkenberg37
Isack Hadjar28

Click here for full Drivers’ Standings

Latest Articles

Max Verstappen has dismissed doubts regarding Red Bull's 2026 prospects
Formula 1

Max Verstappen denies doubt over 2026 Red Bull F1 prospects behind Mercedes talks 

July 15, 2025
Charles Leclerc (MON) Ferrari SF-25. 06.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Race Da
Formula 1

Ferrari to test long-awaited F1 upgrade ahead of Belgian GP

July 15, 2025
Mohammed Bin Sulayem (UAE) FIA President. 18.05.2025. Formula 1 World Championship, Rd 7, Emilia Romagna Grand Prix, Imola, Italy, Race Day
Formula 1

FIA president confident F1 return to V8 engines ‘is happening’

July 15, 2025

Follow Motorsport Week

Join our daily motorsport newsletter

* indicates required

Motorsport Week

© 2024 Motorsport Media Services Ltd

Other Links

  • About & Contact
  • Privacy Policy
  • Motorsport Monday

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Home
  • Formula 1
    • Latest News
    • 2025 F1 Calendar
    • 2025 F1 Championship Standings
  • Formula E
    • Latest News
    • 2025 FE Calendar
    • 2025 FE Championship Standings
  • MotoGP
    • Latest News
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
    • World Superbikes
  • WRC
    • Latest News
    • 2025 WRC Calendar
    • 2025 WRC Standings
  • IndyCar
    • Latest News
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WEC
    • Latest News
    • 2025 WEC Calendar
  • Live Updates
  • Other
    • IMSA
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
  • Galleries
  • About/Contact
  • Privacy Policy

© 2024 Motorsport Media Services Ltd