Apr 29, 2013, 12:04 PM EST
Williams posted a $7.8m loss last year despite scoring its first F1 victory since 2004. The Formula One team reported its annual results for 2012 on Monday.
Chief executive officer Alex Burns noted that $14.59m in income from Formula One “has not been included in these results because of the technical interpretation of today’s accounting standards”.
Founder and team principal Sir Frank Williams said: “2012 saw Williams make encouraging progress on and off the track and we are determined to continue that upward trend in 2013.”
“The win at the 2012 Spanish Grand Prix was a particular highlight and we continue to develop strong sponsorship partnerships and engineering relationships. At the end of the year the Williams F1 Team finished eighth in the FIA Formula One World Constructors’ Championship.”
“There is still a way to go for the team to get to where we should be, but improvements on previous seasons are evident.”
It’s been a period of mixed fortunes for Williams. Their win in Spain came after the surprise resignation of chairman Adam Parr. Over the remainder of the season they generally failed to deliver on the potential of the FW34.
The team has also lost chief operations engineer Mark Gillan since then and executive director Toto Wolff, who moved to Mercedes.
The loss of Sir Frank’s wife Virginia to cancer came on the eve of the new season. The team is yet to score a point in four races this year, but has a major upgrade planned for the next race at the scene of its 2012 triumph.
Mar 2, 2015, 7:31 PM EST
Mercedes F1: Road to Repeat premieres this Thursday, March 5, at 8 p.m. ET on NBCSN.
Mar 2, 2015, 5:16 PM EST
Jam-packed schedule for inaugural GP of NOLA weekend.
Mar 2, 2015, 3:00 PM EST
Toyota Racing’s trio of Davidson, Buemi and Nakajima tour Tokyo.
Mar 2, 2015, 2:00 PM EST
RHR’s image on Indianapolis 500 tickets to be unveiled on Thursday.
Mar 2, 2015, 1:00 PM EST
With 114 cars total and a manufacturer overload, things look promising for Pirelli World Challenge heading into 2015.
Mar 2, 2015, 11:00 AM EST
F1 and IndyCar kick off; NHRA, sports cars and ladder series also have a busy month of March ahead.
Mar 2, 2015, 9:30 AM EST
Mercedes leads in pace, and lap count as F1 preseason testing is in the books for 2015.
Mar 2, 2015, 8:59 AM EST
Mick Schumacher to advance from karting into cars this season.
Mar 2, 2015, 8:21 AM EST
With potential Indy Lights success there for the taking, Max Chilton instead opts for the LMP1 route with Nissan.
Mar 2, 2015, 7:45 AM EST
Max Chilton and Alex Buncombe round out the Nissan LMP1 lineup; Chilton full season and Buncombe at Le Mans.
Mar 2, 2015, 7:34 AM EST
Red Bull takes off the camo, comes back in color.
Mar 1, 2015, 5:00 PM EST
Here’s the final recap from the Circuit de Barcelona-Catalunya as pre-season testing comes to a close.
Mar 1, 2015, 3:30 PM EST
Team principal Maurizio Arrivabene calls for “concentration and discipline” at Maranello in the lead-up to the start of the 2015 season.
Mar 1, 2015, 3:00 PM EST
The Team Penske pilot turns 34 years old today.
Mar 1, 2015, 2:30 PM EST
Maldonado is still able to find the positives out of his final test run before the beginning of the 2015 season in Australia on March 15.
Mar 1, 2015, 2:00 PM EST
Should Mercedes drop the ball in 2015, Williams could be the team to pick up the pieces and snatch a race win.
Mar 1, 2015, 1:30 PM EST
17-year-old will become the youngest driver in the history of F1 to start a race in Australia.
James Courtney wins season-opening V8 Supercars feature in Adelaide; ex-NASCAR driver Marcos Ambrose 12th
Mar 1, 2015, 1:00 PM EST
Ambrose cracks Top 10 on feature grid, but fuel strategy hinders an otherwise decent run for him.
Mar 1, 2015, 12:45 PM EST
German driver posted the fastest time of winter testing in Barcelona on Friday.
Mar 1, 2015, 12:30 PM EST
With the ban on motorsport in Switzerland being lifted, the door has been opened to an ePrix in Geneva.
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