Paris (AFP)
Mercedes-Benz will continue to power the British Formula 1 Williams team until the end of the 2025 season, the partners announced in a statement on Friday.
The initial partnership between Williams and Mercedes ran from the 2014 to the 2020 seasons.
Besides Williams, Mercedes is currently motoring its own team and Racing Point.
The Williams group released Tuesday poor financial results for the first half of 2019.
From January to June, the F1 team generated 46.3 million pounds (52 million euros) in sales, compared to 60.7 last year over the same period, a drop of nearly 24 %. Earnings before interest, taxes, depreciation and amortization (EBITDA) of 0.2 million pounds last year in the first half gave way to a loss of 16.8 million pounds.
"The financial results of Formula 1 reflect mainly our last position in the Constructors' Championship last year and the consequent reduction in premiums that came out of it," says Mike O'Driscoll, CEO of the group.
"There was also an overall reduction in revenue related to partnerships compared to the first half of 2018 (following the departure of title sponsor Martini and pilots Lance Stroll and Sergey Sirotkin, ed), although we have entered into new partnerships with ROKiT and Orlen, "he continues.
The increase in revenues related to its other activities, the extension until at least 2023 of its partnership with the ROKiT telephony brand and the renegotiation of the F1 trade agreements for 2021 are however presented by Williams as positive elements for the future. .
© 2019 AFP