Parent company Volkswagen already reported on Thursday that Škoda increased its operating profit by 47 percent to 1.26 billion euros (about 31 billion crowns) from January to the end of September. Increased sales of the Enyaq electric model contributed in particular to the growth. Total sales rose by 29.5 percent to 19.659 billion euros (roughly 485 billion crowns). Return on sales increased by 0.8 percentage points to 6.4 percent.
“This result is still affected by the termination of Škoda Auto’s activities in Russia. With investments of over EUR 500 million in tangible assets, such as updating the IT infrastructure, we have laid a solid foundation for the development of our portfolio with advanced digitalization,” said Board Member for Finance Holger Peters.
“In addition, we have invested in expanding the range of electric cars to meet customer needs and further intensify our efforts in the field of sustainable development. But we expect the remaining months to be challenging and if 2023 is to be a successful year overall, we need to maintain the current pace and effort,” he added.
For the full year, the company expects that the limited availability of parts from a supplier in Slovenia, which was affected by the floods, will have a negative impact on the economy.
In total, the automaker delivered 642,200 cars to customers worldwide, which is 17.9 percent more than in the same period last year. “Demand for the Enyaq family has grown particularly strongly, up 47.6 percent compared to the same period last year. The best-selling Octavia model achieved growth of 35.8 percent to 145,000 vehicles. Sales figures for the Kodiaq and Superb models have also increased and the new generations of both models will be another successful chapter in their history,” said Martin Jahn, member of the board of directors for marketing and sales.
Škoda currently offers customers 11 model lines of passenger cars – Fabia, Scala, Octavia, Superb, Kamiq, Karoq, Kodiaq, Enyaq, Enyaq Coupé, Slavia and Kushaq. As a brand of the Volkswagen Group, it independently develops and manufactures components such as battery systems for the MEB platform, engines and transmissions for other Group brands.
The automaker operates three production plants in the Czech Republic; has production capacities in China, Slovakia and India, mostly through group partnerships, and also in Ukraine in cooperation with a local partner. The automaker recently entered the market in Vietnam and intends to enter other countries in the ASEAN region (Association of Southeast Asian Nations).