Williams has recorded a loss of more than USD 50 million in 2014. Williams claim that the main reasons for this financial blow was due to low revenue and high cost.
In a statement made by Williams, the team made a turnaround strategy in 2013, after many years of performance that was not up to the mark.
Williams claim that 2014 was a year of change, when they lacked sponsorships after finishing 9th in 2013.
The team says that high input costs were mainly due to the introduction of the hybrid power unit in Formula One. Now, Williams say that 2015 will be more favourable to them compared to 2014, due to better track performance.
Mike O'Driscoll, the Chief Executive of Williams says that they have made good progress in 2014, by investing in people, facilities and technology which he believes is a strong foundation for the future.