Carmaker Bentley announces increased profits

Bentley Motors has today announced its financial results for the year ending 31 December 2012, and reported a significantly increased operating profit of €100.5m compared to €8m in 2011. Bentley boosted its total turnover by 29.9 percent to €1.453 billion and its profit margin increased to 7 percent. Demonstrating the global reach of Bentley’s business, exports accounted for 87.3 percent of Bentley’s total turnover, equating to a total export value of €1.269 billion.  The company’s market share in the luxury segment rose by 4.9 percentage points to 20.1 percent. Bentley also made a strong start to the New Year. Deliveries to customers grew by 39.5 percent in the first two months of 2013. "With the new Flying Spur due to arrive with customers in the middle of the year, we expect to see a double digit growth rate for the rest of 2013," Dr Wolfgang Schreiber, Bentley’s Chairman and CEO told reporters in London. The global growth and expansion of the Bentley brand was driven by 16 new global dealers in 2012, taking the total number to 173 dealerships in 50 countries. This year, 40 more new Bentley showrooms will open around the world. Commenting on the results, Dr Schreiber said: "Our performance in 2012 and in the beginning of 2013 underlines Bentley’s position as the leading manufacturer of luxury vehicles and a truly global brand. Through sound investment and product planning, we now have our strongest model line-up ever and are increasing our market share." The results follow another successful year in 2012 in which the company achieved global growth of 22 percent with 8510 cars delivered to customers, with the top three regions comprising the US (2,457), China (2,253) and the UK (1,031). These sales were driven by the introduction of a host of new models such as the Continental GT and GTC V8.  The Continental family accounted for 62 percent of total sales, the Flying Spur contributed 25 percent and the Mulsanne 13 percent.