Škoda Auto delivered
378.7 thousand cars, which translates into a year on year growth of 49.1 thousand cars (+ 14.9%). Operating income reached CZK 5.9 billion, which by comparison with last year represents an improvement of CZK 1.7 billion (+40.6 %).
The increase in deliveries was mainly due to growth in the
Chinese market. 84.1 thousand vehicles (+82.3%) alone were sold there. The company also improved its sales to
Western European markets excluding Germany (117.3 thousand vehicles sold, +34.5%). Sales in Germany, however, decreased as expected due to the end of the vehicle scrappage scheme (58.0 thousand vehicles sold, -33.8%). With 30.4 thousand vehicles (+16.6%) sold, the company managed to increase significantly its sales in the Czech Republic as well. Developments in the
Superb (+149.6%),
Yeti (+> 500%) and
Octavia (+20.0%) model ranges have been particularly encouraging.
In the first half of 2010,
Škoda Auto group revenues increased to CZK 109.7 billion (+22.3 %).
Operating income reached CZK 5.9 billion, which represents an improvement of CZK 1.7 billion (+40.6 %). The financial result growth was not only due to the underlying increase in car sales (298.2 thousand vehicles +13.6%), but also due to a positive model mix, continued cost optimization and gains from exchange rate differences.
"While the positive development in the number of vehicles sold in the first half of 2010 was mainly due to favourable market developments, Škoda's expanded model range also contributed to the increase in market share. Moreover, the Škoda brand benefited from the particularly strong market in China. This was reflected in the results achieved," said
Reinhard Jung, Chairman of the Board of Directors of Škoda Auto, adding: "On the back of economic uncertainty in many markets and the end of government sponsored environmental schemes our expectations for the second half of the year are more conservative. Nevertheless, for the full year 2010 we expect a significant improvement in sales and financial results."
|
|
January-June |
|
|
|
2010 |
2009 |
2010/2009 (%) |
Deliveries to Škoda customers |
vehicles tsd.
|
378.7
|
329.6 |
14.9 |
| Sales total* |
vehicles tsd. |
298.2 |
262.4 |
13.6 |
| Production total** |
vehicles tsd. |
289.3 |
247.1 |
17.1 |
| Number of employees*** |
persons |
25 840 |
27 257 |
- 5.2 |
| Sales |
CZK millions |
109 707 |
89 696 |
22.3 |
| Gross profit |
CZK millions |
13 557 |
10 493 |
29.2 |
| Operating profit |
CZK millions |
5 855 |
4 163 |
40.6 |
| Profit before income tax |
CZK millions |
5 521 |
3172 |
74.1 |
| Profit after income tax |
CZK millions |
4 766 |
2 736 |
74.2 |
| Investment (incl. activated development costs) |
CZK millions |
1 682 |
4 858 |
- 65.4 |
| Cash flow from operating activities |
CZK millions |
12 573 |
15 688 |
- 19.9 |
| Net liquidity |
CZK millions |
38 751 |
26 345 |
47.1 |
*) the sales figure also includes sales of vehicles of SEAT sold by SAS, VW and AUDI vehicles sold by SAIPL
**) the total production figure also includes production of vehicles of Volkswagen and Audi manufactured by SAIPL
***) Headcount as of 30 June of the relevant year, including agency staff