Bentley Motors has announced encouraging financial results for the first six months of 2022, despite continued global economic uncertainty. While the outlook for the second half of the year remains challenging, the luxury British marque posted operating profits of €398 million, up 124 per cent on the same period last year. The half-yearly figures compare favourably to €389 million for the whole of 2021, the company’s previous record year.
Turnover increased from €1.324 billion during the first half of 2021 to €1.707 billion, while revenue per car climbed from €186,000, to €213,000, largely due to increased levels of personalisation. No luxury brand now sells more cars over €200,000 or €250,000 than Bentley. Return on sales also reached a record 23.3 per cent during the first six months of 2022, up from 13.4 per cent the previous year.
The best-selling Bentayga luxury SUV claimed 40 percent of total sales, with the latest Flying Spur sedan accounting for 27 per cent, and the Continental GT Grand Tourer recording 33 per cent.
The latest figures support Bentley’s forward-looking Beyond100 strategy, as the British brand reinvents its entire product range to embrace an electrified future, achieving carbon neutrality by 2030. This includes a €3 billion ten-year investment programme in future products and at the Pyms Lane factory in Crewe, where all Bentley models are built.
Adrian Hallmark, Chairman and CEO of Bentley Motors, commented: “Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company in line with our Beyond100 strategy and form a basis to withstand further external shocks. In particular, a significant increase in demand and capitalisation of our Mulliner personalisation programme drove record return on sales, and continued global interest in the freshest model line in the luxury sector resulted in record high revenues. I would like to thank our hard-working colleagues for their continued efforts, as Bentley continues its ground-breaking transformation towards an electrified future, financial independence and to be the leader in sustainable luxury mobility.”
Jan-Henrik Lafrentz, Member of the Board for Finance & IT, at Bentley Motors, added: “Bentley continues to focus its efforts on building sustainable, long-term profitability. These results reflect a strong base pricing position, increased revenue through optionality and favourable foreign exchange rates. In parallel, we continue to maintain our lower cost base which is leading to a restructured business model that is delivering strong returns on our investment and sales.”
Half-year financial figures
Financial Result2022 HY2021 HY
Revenue€1.707 billion (+29%)€1.324
billionOperating Result€398 million (+124%)€178
millionReturn on Sales23.3 per cent13.4 per cent