Skoda Reports Positive Results For The First Quarter of 2011

Skoda Yeti

Skoda Yeti

For the first quarter of 2011, Skoda has reported increases in deliveries, production and financial result.

Between January to March 2011, worldwide deliveries to customers rose 21.4 per cent to 217,124 vehicles, up from 178,901 in the previous year. Production also increased by 28.4% to 174,970 vehicles. Sales revenue rose to 2.7 Billion EUR in the first three months of the year. Operation profit grew to 187 million EUR in the same period.

Skoda's operating profit was 87% above 2010's period, reaching 187 million EUR, last year's profit was 100 million EUR. Before income tax, profit totaled 173 million EUR, 84% rise compared to January to march 2010. In the first quarter, net liquidity improved to 1.9 billion EUR, compared to 1.6 billion EUR at 31st December 2010.

"Skoda continues to keep its foot on the gas pedal in 2011 and has shown an excellent performance in the first quarter," emphasised the chairman of the board of Skoda, Prof. Dr. h.c. Winfried Vahland. "The good financial results underscore the good overall condition the company is in and create the financial prerequisites for our future growth course." Within the framework of a comprehensive growth strategy, Skoda wants to double its worldwide sales to 1.5 million vehicles by 2018.

The Skoda board member for Commercial Affairs, Winfried Krause, added: “The financial situation of the company has continued on its positive course during the first three months of 2011. Higher sales volumes, in particular of the Fabia, Yeti, and Superb models, have contributed significantly to this development.”

Published 10 May 2011 Staff

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