ŠKODA AUTO closes first quarter with record sales revenue. Photo by Škoda AUTO
ŠKODA AUTO increased its sales revenue in the first quarter of the year by 8.2% to 4.92 billion euros. Operating profit remains high at 410 million euros, as does the operating return on sales of 8.3%. Investments in tangible assets increased by 74.3% compared to the same period of the previous year – ŠKODA AUTO is investing heavily and expanding its capacity in component manufacturing for electric vehicles.
Klaus-Dieter Schürmann, ŠKODA AUTO Board Member for Finance and IT, says: “Despite the demanding and challenging market environment, we achieved a sound result in the first quarter of 2019. The slight decline in operating profit is mainly due to negative exchange rate effects and higher upfront costs for new products and future technologies. By contrast, volume increases in Europe and price measures through our active sales management and cost optimisation measures had a positive effect.”
The car manufacturer delivered 307,600 vehicles to customers in the first three months of the year, slightly below the previous year’s level (January to March 2018: 316,700 vehicles, -2.9%). The ŠKODA OCTAVIA remains the brand’s bestseller (January to March 2019: 92,500 vehicles), and the KAROQ continues to be an important growth driver: in the first quarter of the year, ŠKODA delivered 35,800 of the compact SUV – more than twice as many as in the same period last year.
ŠKODA AUTO is diversifying for the future Through Strategy 2025, ŠKODA AUTO has defined clear guidelines to transform the far-reaching change in the automotive industry – specifically regarding electromobility and connectivity – into further growth. Other key areas of action include digitising products and processes, entering new markets, and expanding the traditional car manufacturing business to include a variety of mobility services. ŠKODA AUTO intends to grow in two dimensions – firstly by continuing to increase vehicle sales and secondly by developing new business areas such as digital mobility services.
Source: Škoda AUTO
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