The Martorell manufacturer returns to positive numbers, thanks to a turnover of 10,513 million, 14% more than in 2021, the second best in its history.
After a 2021 in the red, with more than 256 million losses, Seat has closed a positive 2022, with a profit of 67.5 million euros after taxes. Likewise, the company has revealed its plans for 2023, the year in which it will step on the accelerator of electrification and will strengthen the Cupra brand.
Seat has presented the results report for the 2022 financial year and the balance could not be more positive.
The Martorell manufacturer returns to positive numbers, thanks to a turnover of 10,513 million, 14% more than in 2021 and the second best for the Spanish manufacturer in its 73-year history, after the 2019 financial year, when it billed 11,157 million euros.
Seat closed 2022 with benefits of 67.5 million euros
According to the report presented this Wednesday, the Spanish brand has achieved an operating profit of 179 million euros, 550 million more before the provision of extraordinary costs of 293 million. And all this, despite the supply crisis and the increase in the cost of raw materials.
During the press conference, the CEO of Seat, Wayne Griffiths, assured that “in the midst of a perfect storm of challenges, Seat made historic decisions in 2022 that will define our history in the coming years.”
In addition, the company closed last year with a production of about 480,000 cars, very similar to that of 2021 and below that of before the pandemic.
Has sold 4% less
The closing of the 2022 financial year with positive numbers has occurred despite a 4% drop in sales compared to 2021, but with an increase in turnover of 14% and with 18% higher revenue per vehicle.
Gross profit went from €278 million to €798 million before extraordinary restructuring costs, which is the highest level in the last five years.
In the first two months of 2023, Seat sold 71,500 cars, 27% more than in the same period of 2021, thanks to the normalization of the supply of semiconductors. If this trend continues, Griffiths is confident that sales will increase in 2023.
Cupra rises 75%
By brand, Seat deliveries increased by 12%, while those of Cupra did so by 75%, exponential growth. In fact, Cupra has represented 40% of the total sales of the Spanish brand in 2022 and plans to reach 50% in 2023.
In this sense, Griffiths has expressed his ambition for Cupra to be “one of the 100 best global brands” in 2030, for which they have projected an offensive with six levers of impulse to launch the Tavascan and Terramar models in 2024 and, in 2025 , the Urban Rebel, with which they intend to achieve 500,000 annual sales.
In another order of things, the CEO of Seat has also highlighted the Spanish company’s commitment to electrification and has promised to electrify “our range of products before 2035.
A bet that will focus on Cupra, since, as the top leader of Seat has explained, “the two brands cannot be electrified at the same time.” Although we will also see electric models of Seat.
