SEAT POSTS 137 MILLION EURO PROFIT

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Rob
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Joined: Mon Mar 31, 2014 2:38 pm

SEAT POSTS 137 MILLION EURO PROFIT

Post by Rob » Sat Oct 29, 2016 9:56 am

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.

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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”.


Dannyboy
Posts: 13
Joined: Fri Jul 07, 2017 9:36 am

Re: SEAT POSTS 137 MILLION EURO PROFIT

Post by Dannyboy » Sat Jul 08, 2017 9:11 am

Whew. You gotta give em hands up for that kind of profit and improvement. Especially given how everything seems to be growing in a recession this last year and everything.


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