Skoda Reports Record Sales and Profit During First Half of 2011

Skoda Superb Estate
Skoda Superb Estate

Skoda has reported that the first half of 2011 as their most successful six months of trading following record sales and profit. Sales revenue rose 25.7per cent to 5.4 billion EUR between january and June 2011. Operating profit increased to 412 million EUR - an 81.5 per cent increase. A year on year increase of 20.1 per cent on the number of vehicles delivered totalled 454,698, up from 378,747 units.

"In the first six months of this year, Skoda experienced rapid growth in all areas," says the Chairman of the Board of Skoda Prof. Dr. H.C. Winfried Vahland. "The team is successfully delivering the growth strategy which we launched last year. We will continue to build on our success in the second half of 2011 and in subsequent years, with the clear goal of increasing worldwide sales to at least 1.5 million units a year by 2018.

"We will begin to broaden our product offering with the launch of the Skoda Citycar later this year."

Winfried Krause, the Skoda board member for Commercial Affairs, commented: "In the first half of 2011, Skoda continued to strengthen its financial position and build market share globally. This is a direct result of a significant increase in sales and an improved model range. Skoda has built a solid financial foundation for ambitious growth planned in the coming years."

Skoda's overall sales revenue reached 5.4 billion EUR, a 25.7 per cent rise from 2010's 4.3 billion. Operating profit was up 81.5 per cent compared to the same period during 2010, reaching 412 million EUR - 227 million during 2010.

Before income tax, profit totalled 388 million EUR, which is an increase of 81.3 per cent year on year. Skoda reported a net liquidity of 2.0 billion EUR for the first half of 2010.

Skoda has already invested 118 million EUR in growth plans in 2011, which was used to develop new models as well as for production capacity expansions at Czech plants.

Published : 02/08/11 Author : Staff

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