The crew at Crewe went on a serious sales and profit rampage in 2007 as it raced against a faltering world economy, and came out the winner. Bentley Motors says last year was a record year for it as it raised revenues by 2.7 percent to €1.37 billion. Operating profit went to an unprecedented €155 million.
“2007 was a milestone in the history of Bentley as we passed the 10,000 units for the first time,” commented Bentley Chairman and CEO Dr Franz-Josef Paefgen, “Five years ago we were selling only 1000 units but the development of a strong product line has seen the Company attract new customers in greater numbers. 2007 saw strong growth both in mature markets, such as Germany, the UK and the US, as well as in emerging markets, such as China and Russia.”
Bentley says it’s confident of another profitable year in 2008, despite an economic downturn in most major markets in the world. Models Continental, brand new Brooklands and Arnage ranges promise even greater success for the coming year. Paefgen does not feel this model flood is in any way eroding his brand’s exclusivity.
Bentley Motors has announced its financial results for the year ending 31 December 2007, reporting record revenue and operating profit. For the calendar year, Bentley increased its net revenue by €36m or 2.7% compared with 2006, to set a new record of €1.37bn. Operating profit increased by €18m or 13.1% to a new operating profit record of €155m.
These results reflect Bentley’s record sales performance last year when the company surpassed the 10,000 unit mark for the first time. Global sales increased by 7% in 2007 to reach 10,014 units. Increases were seen in almost all major markets: +7% in the UK, +4% in North America, +7% in Europe, +18% in the Asia Pacific region, and +93% in China alone.
These excellent results were driven by growth across both the Arnage and Continental ranges. Thanks to the introduction of the Azure convertible, sales grew by 45% in the Arnage line, whilst the Continental family sales increased by around 5%, with the GTC convertible proving the most popular model.
Commenting on these financial results, Bentley Chairman and CEO, Dr Franz-Josef Paefgen, said: “2007 was a milestone in the history of Bentley as we passed the 10,000 units for the first time. Five years ago we were selling only 1000 units but the development of a strong product line has seen the Company attract new customers in greater numbers. 2007 saw strong growth both in mature markets, such as Germany, the UK and the US, as well as in emerging markets, such as China and Russia.”
Looking ahead to 2008, Dr Paefgen said: “We expect to maintain this momentum despite the financial instability that has been affecting the world economy. We hope to take advantage of a complete line-up, with the full Continental range, and the full Arnage range, including the recently launched Brooklands, which has already been very well received. Our plan has always been to achieve a sales volume around the current levels as it gives us excellent profitability whilst maintaining brand exclusivity”.
