HALF-YEAR 2007 RESULTS
SEAT improves operating result by 54 million euros

SEAT has improved substantially its operating result by 54 million euros, according to IFRS standards, in the first half of 2007. During the first six months of 2007, the Spanish car maker registered operating losses of 7 million euros, while in the same period of 2006 a loss of 61 million euros was accounted. Even though the Spanish brand sold 222.110 vehicles in the first half of 2007, slightly less compared to sales in the equivalent period in 2006, this decline was compensated by higher revenues per vehicle sold. Therefore, the consolidated income of SEAT reached 3.11 billion euros in the first half of 2007, attaining the same level of the past year.

The SEAT top sellers in the first six month were the Ibiza model with 90.000 registered units and the León with 63.000 units. The Spanish brand benefited also by the good market reception of the Altea XL that attracted 23.000 clients, and its sister model Altea with 20.000 newly registered vehicles. The increased 2007 results derive from the “plan de mejora” improvement plan that was initiated by the company’s chairman, Erich Schmitt. The plan aims at returning to profitability in 2008.