At 36,000 units sold, the Roomster
posted an 11.4 per cent growth.
ŠKODA’s number six and seven model lines, the Citigo
subcompact and the Rapid Indian compact saloon, were off to an excellent start. The Citigo had its sales debut in its Czech home market in late 2011 and will be rolled out to European markets from May this year. The Rapid
, first marketed from late 2011 in India, opens up the second-largest segment in the Indian market for the brand. The car was immediately voted India’s “Family car of the Year”. 2011 financial results
ŠKODA’s success in sales is reflected in the brand’s financial figures, showing a company in excellent health again in 2011. Revenues rose 18.1 per cent to 10.3 billion euros, topping the ten-billion euro mark for the first time. Operating profit reached 743 million euros, and advance of 66.1 per cent or 296 million euros as against the previous year. Operating return on sales was 7.2 per cent. “More than 10 billion euros in revenue and almost three quarters of a billion in operating profit, those are figures that confirm ŠKODA profitability and financial solidity,” said Winfried Krause, ŠKODA Chief Financial Officer
. Profit before income tax was 783 million euros (plus 87.2 per cent), and 652 million euros after taxes.
On the revenue side, ŠKODA’s favourable financial performance was based on increased sales, but also an improved model mix. On the expenditure side, additional cost reductions have helped. At the same time, the brand has increased its investments, with spending on plant rising by 165 million euros as against 2010 to reach 568 million euros. “Investment in products, structures and capacity will be the basis for further growth,” said Krause. An impressive start to 2012 and a confident look ahead
“2011’s solid performance and a great team means we are well prepared for the years ahead,” said ŠKODA CEO Vahland. “Dedication, sales performance and profitability will form the basis for ongoing success,” Vahland went on. “Our future is profitable growth, and this will be our mission in 2012 as well.” 147,500 cars sold, representing a plus of 11.6 per cent, means the brand had a good start to 2012 in the first two months. There are, however, some economic uncertainties regarding the rest of this year, especially in several European markets.
This year and next, ŠKODA will be expanding its model palette. Following the successful introduction of the Rapid in India and the Citigo, the brand will launch a new compact saloon for European markets in the course of the year. The close-to-series “MissionL
” study, on display at the 2011 IAA in Frankfurt, provided a preview.
In addition, the company is continuing its internationalisation and strengthening its global presence, both in Asia and Eastern Europe, but also in the key markets of Europe. “Despite a slight dulling of the overall business environment in Western Europe and some countries of Central Europe, we remain cautiously optimistic for the future,” said Vahland.
||Change in %|
|Deliveries to customers
|Deliveries excluding China
|Production excluding China
as % of revenues
|Profit before income tax
|Profit for the year
(in fix assets)
* Excluding temporary employees; apprentices included