McLaren generated a profit of 30 million euros in 2023
After a deficit year in 2022, McLaren's 2023 year has been much more successful, both in terms of the car's performance and outside the track, as it generated a profit of nearly $30 million.
It’s definitely a tedious period for McLaren. Since the mid-season of 2023, the British team has been riding a very positive wave on the track, where it now has the fastest car in the field, but also off-track, as it recently revealed its financial figures for 2023. Compared to 2022, the balance sheet is much more positive, which undoubtedly explains McLaren’s performances this season, with the Woking team dominating the top spot in the constructors’ championship.
A growing budget in 2023
Last year, the McLaren Racing group, which also includes IndyCar and Formula E teams in addition to Formula 1, increased its revenue by 31% compared to the previous season. A success that lies in a sharp increase in turnover, rising from 361,069,720 euros in 2022 to 464,361,600 euros in 2023, an increase of 24.32%. Growth is due to several factors, which have allowed the Woking team to consider the 2024 season more serenely.
First of all, the main reason is due to its position in the constructors’ standings, with revenues proportional to its place in the championship. In 2022, McLaren had experienced a rather difficult season with a fifth position, which earned them 120 million euros according to estimates. During the 2023 season, the British team finished one place higher, which offered them additional gains. The team also attributes this increase to higher sponsorship revenue for all its teams as well as a decrease in interest on loans, which was the main source of deficit for McLaren in 2022. All these elements ultimately allowed the company created by Bruce McLaren to make a profit of nearly 30 million euros, while it was incurring a loss of 9 million the previous year.
At the same time, she revealed that her energy consumption remained relatively stable between 2022 and 2023, with even a slight decrease observed between these two years (from 20.7 million kWh to 20.4 million), evidence of the team’s commitment to being environmentally friendly. However, her greenhouse gas emissions increased, going from 4,159 tons of CO2 to 4,264 in 2023, a situation that McLaren will have to address in 2024.
This season, the team occupies the first position in the team standings, which should give them a lot of additional revenue. The team also acquired seven new sponsors during the winter break, who have since been joined by others, such as MasterCard or NTT Data. It would therefore not be surprising to see the British team generate even more profits and turnover this season, which would demonstrate its renewal over the past two years.
