510 million euros invested by Seat in 2009

In 2009 Seat suffered the effects of the economic crisis that affected the Spanish market but the brand didn’t stop thinking in the future. During last year Seat made investments worth 510 million euros. Although these investments ended up in a negative net result of -187 milion euros Seat managed to generate resources through its core business of manufacturing and selling cars, as shown in the EBITDA results (earnings before interest, tax, depreciation and amortisation) of 16 million euros.

One of the main causes for the -391 million euros of operating result, according to the Spanish Accounting Plan, was the weakening of Seat’s domestic market, responsible for 34% of its income. In Spain Seat saw its income reduced by 15% to 4.101 million euros. The brand’s sales around the world also fell 8.5% to 337.000 units. Nevertheless, with sale increases in the UK, France and Germany, Seat saw its European market share rise.

Last year saw the growth of Seat’s vehicle line-up with the launch of 18 new models and versions, leaving Seat as one of the most modern and up-to-date ranges currently available on the market. 2009 saw, for example, the launch of the SEAT's new Exeo sedan, the family sized Exeo ST version and the extension of the green ECOMOTIVE range to the Altea and Altea XL. The FR, CUPRA and Bocanegra sport versions were also added to the Ibiza range and the Léon received restyled versions of the FR, CUPRA and CUPRA R. Several models also saw new powertrains variants added to their ranges.

This year the line-up of Seat will continue its growth with the launch of the new Ibiza ST, the family-sized version of the best-selling Ibiza, before the summer and the New Alhambra, to go on sale in October.

During a press conference to present the company's results, SEAT chairman James Muir stated that “SEAT is going to experience a significant improvement this year as far as results and sales are concerned. But 2010 is going to be a tough year due to the economic situation. We are going to work hard this year to gain better brand positioning, raise awareness and get ready for the great product offensive we are planning for 2012 with the main objective of capitalising on the Martorell facility's capacity and turning SEAT into a profitable company.”