◾The improved sales mix, thanks to the results obtained by the Ateca and the Alhambra, is one of keys to obtaining the result

◾Turnover increased by 2.3% up to September to stand at over 6.5 billion euros, the highest figure in SEAT's history

Martorell, 28/10/2016 - SEAT's financial results keep progressing. In the first nine months of 2016, the brand achieved an operating profit of 137 million euros, a figure which is eleven times higher than the profit obtained in the same period in 2015 (12 million euros). The improved sales mix, mainly due to the initial financial impact of the Ateca, the solid growth of the Alhambra and versions with a greater contribution margin, and cost reduction were the key factors leading to this result.

SEAT's commercial evolution in the first three quarters of the year amounted to the highest turnover in history for this time period. With an increase of 2.3%, the carmaker's business revenue reached 6.535 billion euros (same period in 2015: 6.388 billion euros).

SEAT President Luca de Meo underlined that 'we are satisfied with the operating profit obtained in the first nine months of the year. The success of the Ateca can already be seen in these results and proves that our biggest product offensive in history will have a huge positive effect on strengthening the brand. The Leon, Ibiza and Arona will drive performance'.

Furthermore, SEAT Vice-President for Finance, IT and Organisation, Holger Kintscher highlighted that 'we are still on the path to sustainable profitability and will end 2016 with profits'. Kintscher added that 'in the final quarter of the year we will step up our rate of investment to boost the industrialisation of the new models and the installation work for the MQB-A0 platform, as well as the commercial launch of the Ateca'.

SEAT is the only company that designs, develops, manufactures and markets cars in Spain. A member of the Volkswagen Group, the multinational has its headquarters in Martorell (Barcelona), exporting more than 80% of its vehicles, and is present in over 75 countries. In 2015, SEAT's turnover amounted to over 8.3 billion euros, the highest in its history, and the company achieved worldwide sales of more than 400,000 units for the first time since 2007.

SEAT Group employs more than 14,000 professionals at its three production centres – Barcelona, El Prat de Llobregat and Martorell, where it manufactures the highly successful Ibiza and Leon. Additionally, the company produces the Ateca and the Toledo in the Czech Republic, the Alhambra in Portugal and the Mii in Slovakia.

The multinational has a Technical Centre, which operates as a knowledge hub that brings together 1,000 engineers who are focussed on developing innovation for Spain's largest industrial investor in R&D. SEAT already features the latest connectivity technology in its vehicle range and is currently engaged in the company's global digitisation process to promote the mobility of the future.

Photo credit: SEAT
posted on conceptcarz.com

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