The group comprises a Formula One (F1) racing team (76% FY18 revenues) and Williams Advanced Engineering (WAE; 24% revenues). The F1 racing team placed 10th in the 2018 FIA F1 Constructors’ Championship. WAE specialises in the commercial application of aerodynamics, materials and battery technologies.
Investment summary
In terms of the Formula One racing performance, 2019 was another challenging year on the track as well as financially. Williams also disposed of a majority stake in Williams Advanced Engineering (WAE) on 31 December 2019 for £37.8m. The 2020 racing season is being severely disrupted by COVID-19, the relationship with the ROK Group of companies is being terminated early and new bank facilities have been secured. On 29 May 2020, the company started a strategic review and entered a formal sale process under the UK’s Takeover Code.
