Motor Racing: Despite the dismal F1 season, SPORTS Williams report increased revenues
Williams Group's revenue grew from a previous 166.2 million to 176.5 million pounds ($ 230.79 million). Interest, tax, depreciation, and amortization (EBITDA) earnings were 12.9 million, up from 10.8 million in 2017.
Despite enduring one of their worst seasons on the track, the Williams Formula One team reported increased revenues in 2018, helped by an unspecified item
The British - based group, the third most successful in the sport's winning history, said on Friday that both Formula One and Williams Advanced Engineering had improved financial performance.
Group revenue increased from a previous 166.2 million to 176.5 million pounds. Interest, tax, depreciation amortization (EBITDA) earnings were 12.9 million, up from 10.8 in 2017.
Compared to a previous 125.6 million, the Formula One business generated revenue of 130.7 million pounds, with EBITDA at 16 million, unchanged.
Williams said there was no recurrence of the item, but gave no details.
They have a line - up this season, replacing Canadian Lance Stroll and Russian Sergey Sirotkin with Mercedes - backed British rookie George Russell and Poland's Robert Kubica.
Stroll joined Racing Point, now controlled by his billionaire father Lawrence's former Force India team, and took with him a number of sponsors.
Williams, who hasn't won a race since 2012 and who finished last in 1997, finished last in 2018 with just seven points out of 21 races.
In 2019, they still have to score a point with a car that's off the pace again.
"Unfortunately, we struggled to maintain the pace of technical development and endured a difficult season", said Group Chief Executive Mike O’Driscoll.
"There is a very large gap in competitive expenditure between the leading teams and the rest of the grid",he added.