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Bentley Motors posts record financial performance
Bentley Motors has announced its financial results for 2021, complementing the company’s record sales performance during the same 12-month period. Operating profits rose to £326m (€389m), which was £309m (€369m) more than in 2020.
Turnover last year reached £2.39bn (€2.845bn), 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%.
Previously announced in January, Bentley delivered 14,659 cars in 2021, a 31% increase on the previous record year of 2020. Furthermore, a steady increase of customer interest in new models resulted in an order bank at record levels at the start of 2022.
Bentley’s Beyond100 strategy, an initiative to be end-to-end carbon neutral by 2030, has been underpinned by a 10-year investment programme at its Crewe factory, a £2.5bn 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.
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.”