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Alpine F1 team posts profits for 2022 season

The Alpine Formula 1 team posted a profit of over £26.2m in 2022 as it continued to generate good income while keeping a lid on costs.

Pierre Gasly, Alpine A523

Photo by: Alpine

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Boosted by the arrival of new title sponsor BWT and the prize money associated with fourth place in the world championship the team increased its income from £201,485,000 in 2021 to £249,038,000 last year, representing a gain of 23.6%.

Cost of sales, the measure of what the team spent on its overall operation, rose at a slower rate of 21.6% from £145,264,000 to £170,395,000.

The team notes that “while operations have been impacted by inflation a second year of financial regulations coupled with a disciplined approach to cost control has led to an improvement in operating margin of 37%, resulting in an operating profit of £36.6m.”

That figure was some £9.5m higher than in 2021, but the final post-tax profit figure of £26,214,000 was actually down by £2.9m.

The numbers also show that Renault’s marketing contribution to the team’s turnover fell from £60.6m to £42.2m, reflecting the fact that it had increased revenue from other sources.

Enstone headcount figures showed an increase from 820 in 2021 to 871 in 2022 as the team continued its expansion, although the rise was mostly in administration, with only 14 people added in engineering and production.

The headline number makes for an interesting comparison with Alpine’s close on-track rival Aston Martin, which officially employed only 504 people in 2022.

Esteban Ocon, Alpine A523

Esteban Ocon, Alpine A523

Photo by: Mark Sutton / Motorsport Images

However, that is explained by the fact that the Silverstone team currently buys transmissions and other systems from Mercedes, and outsources manufacturing and other services, resulting in a smaller full-time staff.

The 2022 season also saw Renault briefly take full ownership of the team via its subsidiary Grigny (UK).

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In March it acquired the small shareholding that had been retained by Genii after the sale of the then Lotus outfit to the French manufacturer in 2015.

As previously reported as of this summer the team has new shareholders following the purchase of 24% by three financial entities, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, with Hollywood star Ryan Reynolds among those involved.

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