SEAT INVESTED 510 MILLION EUROS IN 2009

• Spain's economic crisis slows Company results (-187 million euros)
• SEAT posts a positive EBITDA figure of 16 million euros
• Two novelties for 2010 are the launch of the Ibiza ST and the new Alhambra

The 2009 economic crisis that shook the Spanish market did not stop SEAT from setting their sights on the future. By last year's closure, nearly 510 million euros had been invested (including 110 million euros on R&D&I), and the company took advantage last year to strengthen the balance sheet. As a result of this enormous effort, the Spanish brand's net result was -187 million euros, compared to the +44 million euros of the previous year. In spite of everything, 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.

The operating result was -391 million euros (-141 million euros in 2008), according to the Spanish Accounting Plan. The Company took a direct hit due to the weak situation of Spain, which provides 34% of its income. For this reason, SEAT's 2009 invoicing went down by 15% to 4,101 million euros. The company delivered 8.5% fewer cars than the previous year (337,000 units) around the world, but SEAT sales went up in the UK and France, and even more considerably in Germany. In Europe, SEAT's main market, the success of the brand's cars translated into gaining market share.

The 2009 exercise saw a major product offensive, which meant the arrival of several important novelties to the vehicle line-up, including the addition of 18 new models and versions. A few examples include 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 Ibiza range saw the addition of the sportiest FR, CUPRA and Bocanegra versions, the spectacular León FR, CUPRA and CUPRA R were revamped, and several models were fitted with new engine variants. All in all, SEAT today features the most modern and up-to-date range currently available on the market.

In 2010, the family of SEAT products will continue to grow, with two significant novelties besides the addition of new engines – the arrival of the new Ibiza ST, the family-sized version of the best-selling Ibiza, which will make its way onto the market before summer, and the new Alhambra, the brand's popular monospace car, which is going 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.”

Muir also stressed SEAT's environmental concern. The company tops the list in Spain in terms of vehicle registrations of units that register CO₂ levels beneath 120 g/km, with an increase over last year's figures of nearly 42%. The Ibiza was the best-selling passenger car in this segment.