Skoda sales and profit grow over first quarter

The Czech Republic's biggest car manufacturer saw a substantial increase in both sales and profits over the first three months of this year (178.9 thousand vehicles delivered, i.e. a 25 % increase when compared with the same period last year). The operating profit totalled CZK 2.6 billion, a substantial improvement over First Quarter 2009 (CZK 787 million).

The driving forces behind the increase in deliveries are the growth of the Chinese market, where Skoda Auto sold 42,700 vehicles (+ 121.9 %) and the positive trend in Central Europe (28,000 units, + 12.9 %) where the main factor was the domestic market (13,200 vehicles delivered to customers, + 26.6 %). The key model lines in terms of the growth were the Octavia (+ 32.4 %), the Superb (+ 119.3 %) and the Yeti.

Revenues of Skoda Auto over the reviewed period totalled CZK 52.5 billion (+ 32.0 %). The operating profit grew from CZK 0.8 billion to CZK 2.6 billion. The main factor behind this increase was new vehicle sales (142,400 vehicles, + 31.7 %). Other factors include a good model mix (growing sales of the Octavia, Superb and Yeti) and the generally positive impact of exchange rates.

“The sales results show that the markets in Western Europe are recovering from the economic recession. The only exception is Germany, where the automotive market slumped by nearly 25 % over the first three months as compared with the same period of last year. As for our deliveries to customers, the decision to produce vehicles in China is apparently paying off, as the country continues growing very dynamically. Sales in the Czech Republic, the domestic market, are also positive – our market share has reached 33.5 %,“ said Reinhard Fleger, Skoda Auto BOD Member for Sales and Marketing, and went on to say: “Despite the continuing uncertainty in markets worldwide, we expect the number of deliveries over the rest of this year to remain higher than in 2009.”