Williams posts $67m loss despite revival

Williams has revealed another heavy annual loss, even as the historic team celebrates progress on and off the track.

Financial filings show a post-tax deficit of $67.5 million in 2024 - the Grove outfit’s fifth straight year in the red - bringing cumulative losses since 2020 to over $285m.

Revenue, however, rose sharply by $67.6m to $243.2m, though soaring administrative expenses of $238.3m left the bottom line unchanged. The team also bolstered its balance sheet by raising more than $747m in new capital late last year, strengthening liquidity with $25m cash in hand.

Williams said the result was "in line with expectations and the Group’s strategy to continue investing in all areas of the business to drive both on-track and commercial performance in pursuit of success in the medium and long-term."

Despite the financial pain, the team sits fifth in the standings after Carlos Sainz’s recent podium - a milestone Alex Albon described as validation for the rebuilding project.

"It’s more just a validation - to Grove and to everyone that we’re on the up," he said. "I think we’re the most improved midfield team by far.

"It feels like every year we’ve made a big step, and this year is clearly the bigger one of all the four years I’ve been in the team."

Albon credited the team’s leadership under James Vowles for a cultural turnaround. "When I first joined, there was an element of just being low down - they kind of expected ’this is where we belong.’ There’s been a huge shift in open-mindedness and a hunger to move and be a top team.

"That’s very much down to James and the key individuals within the team."

The Thai-British driver admits even he underestimated the progress. "I would never have said at the beginning of 2025 we would score a podium - and almost on pace as well. But what’s exciting to me is we’re only 60-70% in our journey, maybe even less, and yet we can score a podium at this time. It makes me believe even more that we can do a better job."