SEAT posts a 137 million euro profit between January and September 2016

SEAT posts a 137 million euro profit between January and September 2016

Release Date: 28 October 2016
  • The improved sales mix, thanks to the results obtained by the Ateca and the Alhambra, is one of keys to obtaining the result
  • Turnover went up by 2.3% until September to stand at over 6.5 billion euros, the highest figure in the history of SEAT
  • Deliveries rose by 4.5% in the third quarter, posting positive growth for the fourth consecutive year

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 in 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”.

The launch of the Ateca had a positive effect on the brand’s deliveries in the third quarter, which went up by 4.5%. From January to September deliveries grew by 1.5% and stood at a total of 312,900 cars (2015: 308,400). Increased sales of the Leon (+7.7%) and the Alhambra (+23.0%), as well as the recent market launch of the Ateca, have all boosted brand sales which have risen for the fourth year in a row. SEAT has so far received more than 30,000 purchase orders for the brand’s first ever SUV. By markets, developments in countries such as Turkey (+40.6%), Austria (+14.7%), Sweden (+39.4%), Poland (14.3%) and Mexico (+4.7%) have strengthened business results up to the third quarter.

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