Skoda continues on its successful path in the first quarter

Skoda has continued its successful course in the first quarter of 2011 and significantly increased its deliveries, production, and the financial result. From January to March 2011, deliveries to customers worldwide rose 21.4% to 217,124 vehicles (previous year: 178,901 units). At the same time, production was increased by 28.4% to 174,970 vehicles. Sales revenues rose 32.7% to 2.7 billion EUR in the first three months of the year. During the same period, the operating profit grew 87% to 187 million EUR.
 
“SKODA continues to keep its foot on the gas pedal in 2011 and has shown an excellent performance in the first quarter,” emphasisedthe 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, the Czech automobile manufacturer 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.”
 
Overall, the sales revenues of the Czech manufacturer rose 32.7% to 2.7 billion EUR (previous year: 2.0 billion EUR). At the same time, the operating profit was 87% above last year’s period and reached 187 million EUR (previous year’s period: 100 million EUR). Profit before income tax amounted to 173 million EUR, a plus of 84% compared to the first three months of 2010. Net liquidity continued to improve to 1.9 billion EUR in the first quarter (1.6 billion EUR at 31.12.2010).