Sdoka records sales lift in the first half of 2011

ŠKODA is celebrating its most successful six months of trading following record sales and profit in the first six months of 2011. Sales revenue rose more than a quarter (+ 25.7%) to 5.4 billion EUR between January and June 2011. During the same period, operating profit increased 81.5% to 412 million EUR. The number of vehicles delivered to customers year-to-date has continued to increase, reaching 454,698, a year-on-year increase of 20.1% (up from 378,747 units).“In the first six months of this year, ŠKODA experienced rapid growth in all areas,” says the Chairman of the Board of ŠKODA, Prof. Dr. H.C. Winfried Vahland. “The team is successfully delivering the growth strategy which we launched last year. We will continue to build on our success in the second half of 2011 and in subsequent years, with the clear goal of increasing worldwide sales to at least 1.5 million units a year by 2018.” In order to deliver this growth, ŠKODA will expand its presence in international markets as well as building on the current model range. “We will begin to broaden our product offering with the launch of the ŠKODA Citycar later this year,” said Dr. Vahland. The ŠKODA board member for Commercial Affairs, Winfried Krause, commented: “In the first half of 2011, ŠKODA continued to strengthen its financial position and build market share globally. This is a direct result of a significant increase in sales and an improved model range. ŠKODA has built a solid financial foundation for ambitious growth planned in the coming years.” Overall sales revenue for the Czech manufacturer rose 25.7% to 5.4 billion EUR (up from 4.3 billion EUR in 2010). Operating profit was up 81.5% when compared with the same period last year, reaching 412 million EUR (227 million EUR recorded in 2010). Profit before income tax amounted to 388 million EUR, an increase of 81.3% year-on-year. Net liquidity was also up, as ŠKODA reported 2.0 billion EUR in the first six months of the year (previously 1.6 billion EUR recorded on December 31st, 2010). ŠKODA continues to invest in its future, having already injected 118 million EUR into growth plans in 2011. The funds were used to develop new models as well as for the expansion of production capacities at the Czech plants.