After you have closed a 2019 scoring a double-digit growth in sales, Seat is preparing to face one of the most challenging in the history of the automotive industry, where the energy transition now joins the unexpected emergency Coronavirus, which prevents any reliable estimate as to the impact that you will have on the world economy.
Last year the house Martorell has maintained the positive line of the last four years, recording a profit after tax of 346 million euros, 17.5% higher than in 2018 (294 million). The operating profit increased by 57.5 percent, up to 352 million euros (compared to 223 million in 2018) and sales has increased 11.7% compared to 2018 for a total of 11.157 billion, (9.991), driven by increased sales.
In the past year, Seat has designed 1.259 million for accelerating your investment plan, mainly focused to the development of new models, including the cars electrified; this figure represents a 3% more than in 2018 (1.223) and it is the highest amount in the history of the company. Of this volume, with 705 million euro, i.e. 6.4% of the total, have been fully allocated to research and development (+7.5% compared to the year 2018, 656 million). Almost 5% of the total expenditure in Research and Development carried out in Spain in 2019 corresponded to the Seat, the main industrial investor in the Country in Research and Development.
In addition, the operating cash flow increased by 56,2%, amounting to eur 1,092 billion (in 2018 amounted to 699 million euro), 9.8% of the turnover. The sales have registered a record volume for the second year in a row, with a total of 574.078 cars delivered in 2019, which is the +10.9% compared to the previous year.
The positive evolution of this result is linked mainly to the marketing of cars with a higher contribution margin. Also good for the export sector, both of cars and of spare parts, which reached 81% of the business volume (9.014 billion euros), a figure that consolidates the company as the main exporter of industrial Spain, with approximately 3% of the total exports of the Country.
Among the Countries to which you ‘look’ carefully in this sector, the company focuses on Latin America, with the ambition to grow here in the future, and in particular to Mexico is the first market in Latin America with 24.314 cars sold last year, 5.4% more than in 2018.
In the last year, Seat has launched its operations in Chile and launched the plan of expansion in Colombia. In February 2020, the brand has given the go-even to our growth strategy in Peru.
In Europe, the automaker has established a new sales record in Germany, with 132.537 units sold (+16,1%), while in Spain, he again led the market with 107.954 cars delivered and a growth stood at 0.2%. In the United Kingdom, the third largest market for the brand, the sales rose by 9.5%, reaching the record figure of 68.822 unit. Seat has also seen its volume of sales highest ever in key markets such as Austria, Switzerland, Poland, Israel, Sweden and Denmark.