Seat Announces First Profitable Year Since 2008

VW Group’s Spanish brand last year returned to profitability for the first

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by Michael Karkafiris

March 18, 2016 at 09:54

VW Group’s Spanish brand last year returned to profitability for the first time since 2008, posting an after-tax six million euros profit.

The results were today,with the company also announcing a turnover of 8.3 billion euros, 11 percent more than the previous year.

This was Seat’s best ever result and double the revenue posted in 2009. On average, the it has increased earnings per vehicle by 3.5 percent, while investments and R&D costs totaled 586 million euros, 28 percent more than 2014.

“Progress in 2015 was twofold – not only did we obtain a positive result for the first time since 2008, but we achieved it during a year of major challenges,” said Luca de Meo, President of the SEAT Executive Committee. “We are implementing the right strategy that enables us to face the challenge of sustaining long-term profitability with optimism.”

Seat is currently launching the Ateca, the first SUV in its history. It made its first appearance at the Geneva Motor Show and is expected to assist the brand into maintaining its momentum in the market.