Promising Financial Results, Bentley’s First Half Of 2022

Prospects for the second half of the year are looking strong, as Bentley’s financial results for the first six months of 2022 have been reported to be encouraging.

Outstandingly, the company posted operating profits of EUR 398 million (RM 1,814,634,104), which is an increase of 124% from the same period last year. 

The half-yearly figures compare favourably to EUR 389 million (RM 1,773,824,852) for the whole of 2021, the company’s previous record year.

On top of that, the turnover increased from EUR 1.324 billion (RM 6,043,502,359) during the first half of 2021 to EUR 1.707 billion (RM 7,791,644,832). 

Meanwhile, the revenue per car climbed from EUR 186,000 (RM 849,002) to EUR 213,000 (RM 972,244), largely due to increased levels of personalisation. 

Currently, no other luxury brands sell more cars over EUR 200,000 (RM 912,914) or EUR 250,000 (RM 1,141,142) than Bentley.

Return on sales also reached a record 23.3% during the first six months of 2022, up from 13.4% from the previous year.

Specifically, the best-selling Bentayga luxury SUV claimed 40% of total sales, with the latest Flying Spur sedan accounting for 27% and the Continental GT Grand Tourer recording 33%. 

Bentley sales were up 33% in Europe and 44% in the United Kingdom year-to-date, helped by the introduction of the Continental GT Speed. 

Elsewhere, the Americas remained the company’s strongest market, while China was impacted by extended Covid-19 lockdowns. 

Globally, the total year-to-date sales increased 3% to 7,398 extraordinary cars, up from 7,199 during the same period in 2021.

That said, the latest figures strengthen Bentley’s Beyond100 strategy, as the company reinvents its entire product range to embrace an electrified future, achieving carbon neutrality by 2030. 

This includes a EUR 3 billion (RM 13,696,448,340) ten-year investment programme in future products and at the Pyms Lane factory in Crewe, where all Bentley models are built.

Bentley Motors’ board member for finance and IT, Jan-Henrik Lafrentz, concluded, “Bentley has continued 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.”