Yesterday at 15:25
Red Bull has recorded an increase in its profits for 2024, allied
to Max Verstappen winning a fourth consecutive F1 drivers'
championship. In Red Bull Racing Ltd's latest annual accounts,
through to December 31, 2024, the team generated a £7million rise
in turnover, from £307.472 million in 2023 to £314.409m last year.
With gross profit rising by £4 million, it has resulted in overall
profit after tax of £1.681 million, up from £1.296 million in 2023.
It was a year in which Verstappen scored his fourth title, beating
McLaren's Lando Norris by 63 points. This landmark was noted in the
statement of accounts. "The directors consider exceptional on-track
performance, evidenced by race and championship wins, strong
strategic and commercial partnerships and a controlled cost base to
be the principal key performance indicators to assess progress
towards strategic goals," the statement read. "Success in the above
manifests itself in strong revenues from both prize money and
sponsorship. 2024 has been a landmark season, with Max Verstappen
achieving his fourth consecutive drivers' world championship, with
nine race wins and five additional podium finishes whilst
accumulating 437 points, 63 ahead of his closest championship
rival. "The season started strongly, with five wins in the first
seven races, before our competitors improved relative performance
to pose a substantial challenge in the second half of the season."
The statement noted the strength of its commercial partnerships,
notably welcoming VISA on board, signing "a record-breaking apparel
partnership in F1 for both size and duration with Castore and
significant commitments from AT&T, Tag Heuer and Exxon to
long-term agreements". The statement also records that in his final
full year as a director, before his sacking in July, Christian
Horner enjoyed a rise of £46,000, taking home £7.046m in 2024,
compared to £7m in 2023.
