Marking a major milestone in the history of Lotus Group International Limited, the company finished their financial year 2016/17 on plan. This is a major achievement for the company which recorded a positive EBITDA of £2.0m compared to 2015/16 which had a £16.3m EBITDA loss. Looking ahead, it allows Lotus to concentrate on the next stage of the business’ development, and a return to full year Profit Before Tax for 2017/18.

“This is a proud moment for Lotus and to have achieved so much is testament to the hard work of all our staff,” said Jean-Marc Gales, CEO of Group Lotus plc. “Our vastly improved profitability, together with an increase in revenue means that for the first time in many years Lotus is now a self-sufficient and sustainable business.”

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Comprising of Lotus Cars and Lotus Engineering, the Norfolk based company with 850 employees worldwide, improved quality, reduced costs and increased margins resulting in the best sustainable performance for the business for many years.

“We have emerged from the last three years a fitter and more effective business, where we are fast in bringing new sports cars to market and agile in adapting to new opportunities,” said Jean-Marc Gales. “We are now in a perfect position to develop the next generation of Lotus sports cars and the 850 highly skilled staff at our headquarters in Norfolk and around the world who have such passion for the business and are ready to take the next steps in the exciting history of the company. The recent announcement that the Zhejiang Geely Holding Group Co. Ltd has acquired a majority stake holding in Lotus provides an environment in which the company can flourish. This includes continuing the development of new vehicles and technologies, as well as growing sales internationally.”

With an unsurpassed pedigree of building some of world’s best and most revered sports cars, Lotus has recently developed new, highly desirable and profitable products. With its completely revised model range Lotus has reclaimed its position as the leader in pure, high performance benchmark sports cars centered on light weight, efficiency and driver engagement.

A vital part of the return to profitability has been the introduction of sensational new models, based on Lotus’ renowned vehicle architecture. Reflecting the company’s turnaround, these are not only faster and more focused than the previous generation of sports car; they distill the essence of Lotus’ approach to intelligent engineering. From the new Lotus Elise line up, including the sublime Elise Sprint 220, to the mighty Exige Cup 380 and Lotus’ most potent road going sports car ever, the Evora GT430, each clearly demonstrates the company’s ambitions for the future.