Operating profit of €389 million – more than double previous highest
Bentley Motors today announced the luxury marque’s financial results for 2021, complementing the company’s record sales performance during the same 12-month period. Operating profits rose to €389 million, which was €369 million more than in 2020.
Turnover last year reached €2.845 billion, while an increased level of personalisation and a model mix dominated by Speed, Mulliner and Hybrid models resulted in the average revenue per luxury car rising by eight per cent over 2020. This contributed to an impressive return on sales of 13.7 per cent.
Bentley had already announced that it had delivered 14,659 extraordinary cars in 2021, a 31 per cent increase on the previous record year of 2020. Furthermore, there was a steady increase of customer interest in new models resulting in an order bank at record levels at the start of 2022.
The figures are also a vindication of customer appreciation of the freshest model line-up in the luxury segment and of Bentley’s ground-breaking Beyond100 strategy, to be end-to-end carbon neutral by 2030. The initiative has been underpinned by a ten-year investment programme at the Crewe factory, a €3 billion sum representing the biggest transformation and investment programme in Bentley’s history. The company plans to build one new electric model each year for five years from 2025 onwards, as the entire model range undergoes electrification.
Commenting on the figures, Adrian Hallmark, Chairman and CEO of Bentley Motors, said:
“These results were achieved against a continued backdrop of economic uncertainty. They represent a major achievement for everybody involved at Bentley Motors, as we push forward with our Beyond100 programme to reinvent our entire product range in the build-up to carbon neutrality by 2030.”
Jan-Henrik Lafrentz, Member of the Board for Finance and IT, Bentley Motors, added:
“Brand strength has been key to Bentley’s financial performance in 2021, with new models such as Bentayga Hybrid helping to drive profit to a record €389 million. Increasing demand for our hybridised models, supported by €3 billion of sustainable investment in our Crewe factory, will ensure we remain the benchmark manufacturer in sustainable luxury mobility.”
Past ten year performance:
| YEAR | RETAILS | TURNOVER (€) | OPERATING (€) |
|---|---|---|---|
| 2021 | 14,659 | 2,845 million | 389 million |
| 2020 | 11,206 | 2,049 million | 20 million |
| 2019 | 11,006 | 2,092 million | 65 million |
| 2018 | 10,494 | 1,548 million | -288 million |
| 2017 | 11,089 | 1,843 million | 55 million |
| 2016 | 11,023 | 2,031.1 million | 112.1 million |
| 2015 | 10,100 | 1,935.9 million | 110.4 million |
| 2014 | 11,020 | 1,746.4 million | 170 million* |
| 2013 | 10,120 | 1,678.7 million | 167.7 million |
| 2012 | 8,510 | 1,453.2 million | 100.5 million |
*Previous record operating result.
SOURCE: Bentley
Keyword: Bentley posts record financial performance in 2021