Bentley announces its 2024 half-year Results
London, July 26, 2024, (Oilandgaspress) –– Bentley Motors announced its financial results for the first six months of 2024, with the luxury British brand posting an operating profit of €261 million. This compares to the same period in 2023 where the company reported an operating result of €390 million.
Overall revenue for this six-month period was €1.388 billion against the €1.681 billion figure reported for the first half of 2023. Return on sales reached 18.8 per cent, from the 23.2 per cent figure for the same period last year.
Commenting on these results, Jan-Henrik Lafrentz, Member of the Board for Finance and IT, said:
“Despite a challenging first half of 2024, our half-year results provide a platform to remain focused on delivering our key strategic initiatives and investment plans, including the transformation of our product portfolio to fully-electric in the years to come.
“We do remain cautious and anticipate continued difficult trading conditions in some key markets, however we are seeing a great deal of optimism for the recently launched Continental GT Speed and expect this to have a significant, positive impact on our order bank numbers later this year and early in 2025 as the car enters global markets.”
Of the half-year deliveries of 5,476 cars, the Bentayga SUV (including Bentayga EWB models) accounted for 41 per cent of total sales, with Continental GT and GTC recording 34 per cent and the Flying Spur making up the remaining 25 per cent of sales.
Global sales were 23 per cent lower on the same period in 2023, with the Americas remaining the company’s strongest market, followed by China and Europe.
Half-year financial figures
| Financial result | 2024 HY | 2023 HY |
|---|---|---|
| Revenue | €1.388 billion (-17%) | €1.681 billion |
| Operating Result | €261 million (-33%) | €390 million |
| Return on Sales | 18.8 per cent | 23.2 per cent |
Half-year sales figures
| Market | 2024 HY | 2023 HY | 2024 HY (% of total sales) |
|---|---|---|---|
| Americas | 1,652 (-20%) | 2,065 | 30% |
| Chinese mainland, Hong Kong and Macau | 1,311 (-13%) | 1,512 | 24% |
| Europe | 1,054 (-21%) | 1,340 | 19% |
| Asia Pacific | 679 (-29%) | 963 | 13% |
| United Kingdom | 428 (-38%) | 688 | 8% |
| Middle East | 352 (-33%) | 528 | 6% |
| Total | 5,476 (-23%) | 7,096 | 100% |
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