April 20, 2014 5:33 AM ET

Automobiles

Company Overview of SEAT, S.A.

Company Overview

SEAT, S.A. designs and manufactures cars in Spain. It serves customers in Europe, Asia, America, Africa, and the Middle East. The company sells its products through its dealerships. SEAT, S.A. was formerly known as The Sociedad Española de Automóviles de Turismo, S.A. The company was founded in 1950 and is based in Barcelona, Spain. SEAT, S.A. operates as a subsidiary of Volkswagen International Finance N.V.

Autovía A-2, Km.

585, Martorell

Barcelona,  08760

Spain

Founded in 1950

Phone:

34 93 402 85 00

Fax:

34 93 708 55 36

Key Executives for SEAT, S.A.

Chairman of Executive Committee
Age: 51
Vice-President for Finances
Executive Vice President of Research & Development and Member of Executive Committee
Age: 51
Compensation as of Fiscal Year 2013.

SEAT, S.A. Key Developments

Seat Reports Production and Earnings Results for the Year of 2013

Seat reported production and earnings results for the year of 2013. For the year, the company narrowed its operating loss by 2.9% to EUR 152 million (USD 211.2 million) in 2013. Sales revenue came in at EUR 6.9 billion, up 6% on the year, with volume and mix improvements as well as lower material costs considered to be positive factors for the financial performance. For the year, the company produced 145,041 units of the Ibiza model, down 9.8% on the year, while the output of the Leon and Altea models came in at 114,568 and 43,055 vehicles, respectively. The number of Seat vehicles sold to customers last year came in at 355,000, up 10.6%, while output grew by 9.8% to 353,000 units.

SEAT, S.A. Announces Executive Changes

Jurgen Stackmann is to take over as Chairman of SEAT, S.A. effective May 1, 2013. In this function he succeeds James Muir, who will assume a senior management function within the Volkswagen Group and will report direct to the Board of Management. Stackmann joined the Volkswagen Group in 2010, initially holding responsibility for Sales and Marketing at SKODA AUTO a.s. Stackmann was placed in charge of Marketing at the Volkswagen Group and the Volkswagen Passenger Cars brand effective September 1, 2012.

Seat S.A. Unveils the All New Leon

Seat S.A. has unveiled the all-new SEAT Leon for the first time at the Volkswagen Group Media Evening. The new Leon is built on the Volkswagen Group’s new MQB platform and is 90kg lighter and despite being 52mm shorter than its predecessor, has more interior space. A range of six petrol and four diesel engines are available, guaranteeing an engine choice to meet all customer preferences. The new Leon will feature engine Start/Stop technology and the most efficient engine option will emit just 99g of Co2. The new model is the third iteration of Leon and previous generations have earned a reputation for delivering a rewarding and interactive driving experience and the new generation will continue that pattern, due to the lighter overall weight and longer wheelbase. The new model will be manufactured at the company's base in Martorell, near Barcelona in Spain. In total, 1.2 million Leons have been sold to date since the first model was introduced in 1999. The first markets to introduce the new Leon will be Germany, Austria and Switzerland, with sales beginning before the end of November.

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