McDonald
Well-known member
- Lid geworden
- 18 nov 2010
- Berichten
- 11.923
? Company improves results by 44.4%
? SEAT doubles positive EBITDA, hitting 35 million
? Spanish brand allocates 518 million euros in 2010 for solid basis for future
? Leads car sales in Spain after 31 years
? Market success of Ibiza ST and new Alhambra
The crisis in the Spanish market did not dampen SEAT?s plans for growth or jeopardize its future. The Spanish multinational car manufacturer grew almost 14% in 2010, thanks to an upturn in sales and the market success of its products. The VW subsidiary saw turnover of 4,663 million euros compared to last year?s 4,101 million euros. It also devoted 518 million euros, 11 million more than last year, so as to provide a solid basis for its future. In spite of this heavy effort, SEAT improved its results by 44.4%, and closed 2010 with a profit after taxes result of -104 million euros, compared to last year?s -187 million euros.
SEAT showed again that it has the capability to generate resources from its core business (production, sales of cars and components), and achieved a positive EBITDA (earnings before interest, taxes, depreciation and amortization) of 35 million euros, more than twice the figure for 2009.
The company also improved its operating results (-330 million euros, applying the Spanish Accounting Plan*) by more than 60 million euros thanks to an increase in sales performance and efficiencies in material costs.
?SEAT has a very bright future ahead of it. For the time being, this year, it will see an improvement in results, sales and production?, said SEAT President James Muir during the presentation of the annual results. ?For SEAT, 2010 means growing. Although we are still in a transition period, we have improved all our key indicators. Morever, we continue with a significant level of investments, optimizing costs and improving the profitability of our products to lay the foundations for the future. We are on the right track?, stressed the Vice-president of Finance, Holger Kintscher.
SEAT delivered 1% more vehicles world-wide (almost 340,000 units), while achieving a historic record on its 60th Anniversary ? winning back registration leadership in the competitive Spanish market for the first time in 31 years.
The strategy of concentrating its efforts on Euro 5 (Spain, Germany, France, UK and Italy) has paid off, by achieving an increase of turnover of more than 6%. In the ?Old World?, the major destination for its products, SEAT managed to marginally increase market share in the main countries.
SEAT?s success with its products meant that the company increased production at Martorell, its main factory, by 11%, reaching a total number over 335,000 vehicles.
In 2010 the SEAT family of products grew with two new additions as well as new engines ? the new Ibiza ST (the family version of the megasales star) and the new Alhambra MPV, which has garnered awards in several European countries. The year was also notable for new versions, such as the new generation of the Ibiza Ecomotive (89 grams CO2 per kilometer), the most eco-friendly car in its segment, or else the use of TSI and TDI common rail technology in all engines in the SEAT range.
The SEAT range of products will continue to grow and be updated throughout 2011 ? adding the multitronic gearshift EXEO TDI and the Alhambra 4WD.
Additionally, production of the Audi Q3 is due to start up within a few weeks. This project means the hiring of 700 new employees, and will also contribute to increase production in the Martorell facility.
?Over the next few years we will continue to work on the brand?s positioning and on getting ready to open up new markets like China, as well as the large-scale offensive of products we shall be launching in 2012 ? four new models, something never seen before. Thanks to the Volkswagen Group?s confidence in us, we are right on schedule with our plan to fill Martorell and reach profitability?, added James Muir.
The President also highlighted SEAT?s commitment to the environment, both in the sphere of products and processes. SEAT is head of the greencar league (vehicles with CO2 emissions equal to or below 130 grams per kilometer) of brands and models, according to the TNS consultancy agency. Thanks to its Ecomotive technology, 55% of SEAT models registered in 2010 were green; in the case of the Ibiza, the proportion is 7 of every 10 vehicles.
The company has also brought the first phase of the ?SEAT al Sol? project to a successful conclusion, installing two roof-top photovoltaic plants on workshops and temporary vehicle holding areas. The plants have a nominal joint power output of 4Mw, and produce roughly 6 million kWh of clean electrical energy per year. SEAT has also kept up the pace of its rail transport strategy, which enables the company to eliminate 57,000 heavy goods vehicles road trips per year, eliminating 2,600 tonnes of CO2 in the process. The company has a rail link between Martorell and the port of Barcelona as well as the Zona Franca.
(*) SEAT reports according to the Spanish Accounting Plan and prepares its accounts individually, without including its subsidiaries. Volkswagen applies international rules (IAS/IFRS) and consolidates SEAT brand figures.
Link to Annual Report 2010
SEAT is the only company in its sector with the full-range capacity to design, develop, manufacture and market cars in Spain. A member of the Volkswagen Group, the multinational has its headquarters in Martorell (Barcelona), exporting approximately 75% of its production to 72 countries. SEAT is market leader in Spain, and in 2010 reached a trade volume amounting to 4.7 billion euros, with total sales of 339,501 vehicles.
SEAT Group employs 13,000 professionals at its three production centres in Barcelona - Zona Franca, El Prat de Llobregat and Martorell, where it manufactures the highly successful Ibiza and Leon, amongst other models. A fourth centre, the Volkswagen Group production facility at Palmela in Portugal, supplies the Alhambra.
The Spanish multinational also has a Centre of Excellence or ?knowledge hub?, bringing together more than 900 engineers whose remit is to be the driving force behind innovation for the number one industrial investor in R&D+i in Spain. In line with its declared commitment to environmental protection, SEAT undertakes and bases its core activity on criteria of sustainability, namely reduction of CO2 emissions, energy efficiency, as well as recycling and re-use of resources.
? SEAT doubles positive EBITDA, hitting 35 million
? Spanish brand allocates 518 million euros in 2010 for solid basis for future
? Leads car sales in Spain after 31 years
? Market success of Ibiza ST and new Alhambra
The crisis in the Spanish market did not dampen SEAT?s plans for growth or jeopardize its future. The Spanish multinational car manufacturer grew almost 14% in 2010, thanks to an upturn in sales and the market success of its products. The VW subsidiary saw turnover of 4,663 million euros compared to last year?s 4,101 million euros. It also devoted 518 million euros, 11 million more than last year, so as to provide a solid basis for its future. In spite of this heavy effort, SEAT improved its results by 44.4%, and closed 2010 with a profit after taxes result of -104 million euros, compared to last year?s -187 million euros.
SEAT showed again that it has the capability to generate resources from its core business (production, sales of cars and components), and achieved a positive EBITDA (earnings before interest, taxes, depreciation and amortization) of 35 million euros, more than twice the figure for 2009.
The company also improved its operating results (-330 million euros, applying the Spanish Accounting Plan*) by more than 60 million euros thanks to an increase in sales performance and efficiencies in material costs.
?SEAT has a very bright future ahead of it. For the time being, this year, it will see an improvement in results, sales and production?, said SEAT President James Muir during the presentation of the annual results. ?For SEAT, 2010 means growing. Although we are still in a transition period, we have improved all our key indicators. Morever, we continue with a significant level of investments, optimizing costs and improving the profitability of our products to lay the foundations for the future. We are on the right track?, stressed the Vice-president of Finance, Holger Kintscher.
SEAT delivered 1% more vehicles world-wide (almost 340,000 units), while achieving a historic record on its 60th Anniversary ? winning back registration leadership in the competitive Spanish market for the first time in 31 years.
The strategy of concentrating its efforts on Euro 5 (Spain, Germany, France, UK and Italy) has paid off, by achieving an increase of turnover of more than 6%. In the ?Old World?, the major destination for its products, SEAT managed to marginally increase market share in the main countries.
SEAT?s success with its products meant that the company increased production at Martorell, its main factory, by 11%, reaching a total number over 335,000 vehicles.
In 2010 the SEAT family of products grew with two new additions as well as new engines ? the new Ibiza ST (the family version of the megasales star) and the new Alhambra MPV, which has garnered awards in several European countries. The year was also notable for new versions, such as the new generation of the Ibiza Ecomotive (89 grams CO2 per kilometer), the most eco-friendly car in its segment, or else the use of TSI and TDI common rail technology in all engines in the SEAT range.
The SEAT range of products will continue to grow and be updated throughout 2011 ? adding the multitronic gearshift EXEO TDI and the Alhambra 4WD.
Additionally, production of the Audi Q3 is due to start up within a few weeks. This project means the hiring of 700 new employees, and will also contribute to increase production in the Martorell facility.
?Over the next few years we will continue to work on the brand?s positioning and on getting ready to open up new markets like China, as well as the large-scale offensive of products we shall be launching in 2012 ? four new models, something never seen before. Thanks to the Volkswagen Group?s confidence in us, we are right on schedule with our plan to fill Martorell and reach profitability?, added James Muir.
The President also highlighted SEAT?s commitment to the environment, both in the sphere of products and processes. SEAT is head of the greencar league (vehicles with CO2 emissions equal to or below 130 grams per kilometer) of brands and models, according to the TNS consultancy agency. Thanks to its Ecomotive technology, 55% of SEAT models registered in 2010 were green; in the case of the Ibiza, the proportion is 7 of every 10 vehicles.
The company has also brought the first phase of the ?SEAT al Sol? project to a successful conclusion, installing two roof-top photovoltaic plants on workshops and temporary vehicle holding areas. The plants have a nominal joint power output of 4Mw, and produce roughly 6 million kWh of clean electrical energy per year. SEAT has also kept up the pace of its rail transport strategy, which enables the company to eliminate 57,000 heavy goods vehicles road trips per year, eliminating 2,600 tonnes of CO2 in the process. The company has a rail link between Martorell and the port of Barcelona as well as the Zona Franca.
(*) SEAT reports according to the Spanish Accounting Plan and prepares its accounts individually, without including its subsidiaries. Volkswagen applies international rules (IAS/IFRS) and consolidates SEAT brand figures.
Link to Annual Report 2010
SEAT is the only company in its sector with the full-range capacity to design, develop, manufacture and market cars in Spain. A member of the Volkswagen Group, the multinational has its headquarters in Martorell (Barcelona), exporting approximately 75% of its production to 72 countries. SEAT is market leader in Spain, and in 2010 reached a trade volume amounting to 4.7 billion euros, with total sales of 339,501 vehicles.
SEAT Group employs 13,000 professionals at its three production centres in Barcelona - Zona Franca, El Prat de Llobregat and Martorell, where it manufactures the highly successful Ibiza and Leon, amongst other models. A fourth centre, the Volkswagen Group production facility at Palmela in Portugal, supplies the Alhambra.
The Spanish multinational also has a Centre of Excellence or ?knowledge hub?, bringing together more than 900 engineers whose remit is to be the driving force behind innovation for the number one industrial investor in R&D+i in Spain. In line with its declared commitment to environmental protection, SEAT undertakes and bases its core activity on criteria of sustainability, namely reduction of CO2 emissions, energy efficiency, as well as recycling and re-use of resources.