Haas have generated UK£26.2m in profit since 2020Cost of sales fall 60% in first season without former team boss Günther Steiner
The Haas Formula One team posted a profit of UK£6.5 million (US$8.7 million) for the year ended 31st December 2024, their highest since 2019.
The team has long followed a business model of purchasing the maximum number of car parts allowed under the regulations from Ferrari. This strategy remains logical for the smallest outfit on the Formula One grid, which has turned a profit despite administrative expenses of UK£111.3 million (US$149.7 million).
Indeed, these expenses would have been the highest among teams in the series, had Williams and Aston Martin not heavily invested in infrastructure over the past few years.
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Haas generated the lowest revenue out of all the Formula One teams that base the majority of their operations in the UK, with UK£119.4 million (US$160.6 million), but still made a profit for the fifth consecutive year. In total, the team has generated UK£26.2 million (US$35.2 million) in profits since 2020, more than Aston Martin, Red Bull and Williams.
Haas also managed to reduce their cost of sales by 60 per cent year-over-year (YoY) to UK£502,000 (US$675,140), a reduction of UK£755,000 (US$1 million). Every other team on the grid saw their cost of sales rise in 2024.
The financial accounts state that ‘the costs for the year were in line with expectations’, but it remains unclear what contributed to such a significant decline. Notably, the 2024 season was Haas’ first without enigmatic team principal Günther Steiner, who reportedly earned an annual salary of around US$1 million.