Williams made a loss of 101 million euros last year as the Formula 1 team achieved its best result in the constructors’ championship since 2017.
Alexander Albon and Logan Sargeant scored 28 points to put Williams seventh in the standings ahead of AlphaTauri (now RB F1), Alfa Romeo (now Stake F1) and Haas F1.
Group of company accounts for Williams Grand Prix Engineering reveal its revenues fell, but massive investment in upgrading its facilities to meet the standard of its rivals continued.
The loss of 101 million euros in 2023 contrasts with that of 22 million euros. His income decreased from €171 million to €152 million as his income was linked to his performance in the 2022 championship, when the team finished last.
“While losses increased compared to 2022, this is in line with the company’s expectations and strategy to continue to invest in all areas of the business to drive on-track and commercial performance in pursuit of success at medium and long term,” justifies the team in a press release.
“Revenues were lower in 2023 due to lower commercial rights revenues linked to 10th place in the 2022 Constructors’ Championship.”
“The strong improvement in on-track performance in 2023 is the result of continued investment in infrastructure, transformation and people since 2020. The team’s long-term objective remains to return to the front of the grid through continued investments to develop leading technology and people.”
Williams, which was acquired by Dorilton Capital in 2020, sits eighth in the championship after the first 18 rounds of 2024. The team stressed that its assets of €81 million give it “a solid financial foundation on which to continue the team’s long-term strategy to return to the top of the grid and be financially viable.”
