Operating profit increased to record £139.7 (€167.7) million
• Strong result from Bentley’s record sales year
• Profit margin reaches 10%
• Strong growth expectation for 2014
Bentley Motors today posted a significant growth in profit and turnover, its strongest ever performance, as the company outlined its financial results for the year ending 31 December 2013.
Operating profit improved to a record £139.7 (€167.7) million, up 66.9% on the 2012 figure of £83.7 (€100.5) million. Turnover grew by 15.5% to £1.40 (€1.68) billion, the highest in Bentley’s history. Profit margin increased from 7% to 10%.
Bentley’s continued success across the globe gathered pace, with exports contributing to 88% of total turnover, with a total export value of £1.23 (€1.48) billion.
This success has continued into 2014, with global deliveries to customers growing by 13% to 1,408 cars by the end of February.
Dr Wolfgang Schreiber, Chairman and Chief Executive of Bentley Motors, said: “Customers all over the world continue to be very enthusiastic about Bentley. The luxury car market is not static. We will continue to make sure that Bentley will meet the changing needs of our discerning customers. Just two weeks ago we introduced the new Continental GT Speed and the new V8 Flying Spur. In 2016 we will offer the first SUV in the luxury sector and one year later we will bring plug-in-hybrid technology into the luxury market. We are on the back of a record year and given the start we have made to 2014, we are confident that Bentley will have another good year, with strong growth.”
Bentley delivered more cars than ever before in 2013, 10,120 cars, a global growth of 19% over the 2012 figure of 8,510 cars.
The US remains Bentley’s largest market, with a share of 31% of global deliveries, followed by China with 22%, with Europe accounting for 15%.
Bentley’s home market, the UK, also performed extremely well, taking 14% of global deliveries, while the increasingly important Middle East region delivered 12% of the 10,120 cars.
To the end of 2013, Bentley had 193 dealerships, up by 20 over 2012, in 54 territories, and expects to increase this to 220 by the end of 2014.