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VOLKSWAGEN - SKODA increases deliveries, sales revenue and operating profit in first half of 2014

August 4, 2014



ENP Newswire - 04 August 2014

Release date- 01082014 - .Record half year: 522,500 deliveries; up 12.5%

.Sales up 20.3% to six billion euros by the end of June

.Operating profit increases 74.9% to 425 million euros

.The most comprehensive model campaign in SKODA's history continues

SKODA has significantly increased deliveries, sales revenue and operating profit in the first half of 2014.

Selling 522,500 vehicles, this was the first time that the Czech carmaker has delivered more than half a million vehicles worldwide in the first half of a year (January to June 2013: 464,600; up 12.5%). Sales revenue also increased in the same period, setting a new record for the first half of a year of six billion euros (5.974 billion euros). This is an increase of 20.3% over the first half of 2013 (4.966 billion euros). Operating profit increased compared to the same period last year by 74.9% to 425 million euros.

'SKODA did very well in the first half of the year and continues on a stable path of growth,' says SKODA CEO Prof. Dr. h.c. Winfried Vahland. 'The brand's strength has been demonstrated through the best first-half sales year in corporate history and the significant increases in sales and revenue. Our model campaign is now showing its full power, and we are even conquering new consumer groups. The new Octavia, the heart of the brand, has been a great hit in every respect, and has exceeded our expectations. We plan to continue along this path of growth and energetically continue the most comprehensive product campaign in our corporate history.'

SKODA's sales revenue reached 5.974 billion euros in the first half of the year - 20.3% higher than the first six months of 2013 (4.966 billion euros). Over the same period, operating profit increased 74.9% to 425 million euros (first half of 2013: 243 million euros). The operating margin, at 7.1%, was above the previous year's figure of 4.9%. The increased profit was due in part to the higher number of deliveries and also to the enhanced model line-up and more favourable product costs. Net liquidity rose by 41.9% to 1.855 billion euros. Investments amounted to 149 million euros (January to June 2013: 265 million euros).

'SKODA has grown profitably in the first half of the year,' says SKODA CFO Winfried Krause. 'The investments we made into the new models are paying off. Besides the higher profit, the increase in net liquidity also demonstrates the company's financial strength. SKODA also expects increases in sales, sales revenue and profit for the full year. In light of the fiercely competitive environment, strict cost discipline remains our central concern.'


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Source: ENP Newswire


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