The economy was supported by growth in sales volume and also higher prices. The parent concern Volkswagen announced this in its earnings report today. However, operating profit fell from January to September.
Sales of the Mladá Boleslav carmaker increased to 19.659 billion euros (485.8 billion CZK) from 15.181 billion euros a year ago. However, the company pointed out that exchange rate effects, higher costs and also a slowdown in activities in Russia had a negative impact on the results. Škoda previously stated that the sales of their cars increased by 17.9 percent year-on-year to 642,200.
Škoda Auto operates three production plants in the Czech Republic, it also has production capacities in other countries, for example in China and India. Last year, as a result of the invasion of the Russian troops in Ukraine, it ended its activities on the Russian market. In March, it announced that it lost almost 700 million euros last year due to the termination of business activities and production in Russia.
Operating profit for the entire Volkswagen Group fell by seven percent year-on-year to 16.2 billion euros in three quarters. However, the concern increased its revenue by 16 percent to 235.1 billion euros.