Bentley Motors has announced its financial results for the first half of 2024, revealing an operating profit of €261 million. This represents a decrease from the €390 million reported for the same period in 2023. The luxury British brand’s overall revenue for this period was €1.388 billion, down from €1.681 billion in the first half of 2023. Return on sales also saw a decline, reaching 18.8% compared to 23.2% last year.
Jan-Henrik Lafrentz, Member of the Board for Finance and IT, highlighted the resilience of Bentley Motors in the face of a challenging market. “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,” said Lafrentz.
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Bentley delivered 5,476 cars in the first six months of 2024, with the Bentayga SUV, including Bentayga EWB models, accounting for 41% of total sales. The Continental GT and GTC represented 34% of sales, while the Flying Spur made up the remaining 25%. Global sales were 23% lower than the same period in 2023. The Americas remained Bentley’s strongest market, followed by China and Europe.
“We do remain cautious and anticipate continued difficult trading conditions in some key markets,” Lafrentz added. “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.”
The half-year financial figures for 2024 show a revenue of €1.388 billion, a 17% decrease from 2023’s €1.681 billion. The operating result was €261 million, down 33% from €390 million, and the return on sales stood at 18.8%, compared to 23.2% last year.
Sales figures by market for the first half of 2024 show a significant decline across regions. The Americas saw a 20% drop to 1,652 units, China experienced a 13% decrease to 1,311 units, and Europe had a 21% fall to 1,054 units. Asia Pacific’s sales declined by 29% to 679 units, the United Kingdom by 38% to 428 units, and the Middle East by 33% to 352 units.
Despite these challenges, Bentley remains optimistic about the future, particularly with the introduction of new models and its strategic focus on electrification.
Source: Bentley Unveils Impressive 2024 Half-Year Financial Results
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