Škoda Auto reports results strong sales and profit growth in 2007

The Škoda Auto Group launched into its hundredth market (Australia) shortly before the end of 2007, achieved its best-ever sales figures and, as a result, achieved record financial results. Revenues grew by 9.0% to CZK 222.0 billion; at CZK 19.8 billion, operating profit grew by 35.5% year on year; consolidated pre-tax profit totalled CZK 19.9 billion (+39.9% year on year); growing by 29.5%, net liquidity as at 31 December, 2007 was CZK 27.4 billion.
 
Holger Kintscher, Škoda Auto finance director, said: ¡°The year 2007 was not an easy one in terms of external economic conditions. We had to put up with a number of negative factors, particularly the continuing appreciation of the Czech crown against the euro, growing salaries, as well as changes in the commodity markets, primarily steel and synthetic materials. We are, therefore, very pleased that the Škoda Auto Group has managed to achieve the best results in its entire history.¡°
 
Škoda Auto exported vehicles, spare parts and other components including accessories worth CZK 184.9 billion in 2007, a 7.5% share of the Czech Republic's total exports, Škoda Auto thereby defending its position as the country's leading exporter.
 
Škoda ended last year with 29,141 employees. The number of full-time employees of the parent company grew by 2.3 % to 23,559; the number of agency-provided staff grew by 13.2 % to 4,194. As of year-end, the company's subsidiaries employed 1,388 people including agency-provided staff (+47.3% year on year).
 
The company delivered a total of 630,032 vehicles to its customers in 2007. The Octavia sold 237,422 vehicles, +18.,1% year on year), the old then the new Fabia, 232,890 vehicles. The Roomster sold 62,527, and the Škoda Superb 20,530. European market share for the brand grew 8.9 points to 2.2%.
From: auto industry.uk/news
 

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