Bentley reports record results

Bentley Motors has revealed record financial results for 2022, with operating profits up nearly €1bn compared to 2018.

The latest annual figures show a profit of €708m, representing an 82% growth in profit from a four per cent growth in volume.

Turnover reached €3.38bn, up 19% over the same period.

Adrian Hallmark, chairman and CEO of Bentley Motors, said: “Since the low point of 2018, the whole team at Crewe has been working intensively to restructure the business model, in parallel with launching successive segment leading new models and features. Last year marked a milestone in this journey. An almost €1bn profit turnaround has been achieved since 2018 despite an unprecedented period of disruptions and crises including Brexit, Covid, semiconductor supply, Ukraine and UK economic instability.

“We have built a sustainable financial basis for the long-term, a competitive cost structure and unique market positioning, resulting in an historically strong cash generative that is providing the funding for the most ambitious race to full BEV and carbon neutrality in the luxury sector.

“We will maintain focus on customer value rather than sales volume and adapt our plan according to the emerging market situation, however our well-balanced export success, disciplined cost management structure and ability to maximise personalisation in an industrialised way, driving profitability, are good foundations to continue this success.”